PAR Technology Corporation (NYSE:PAR) Short Interest Update

PAR Technology Corporation (NYSE:PAR) saw a significant increase in short interest in March. As of March 31st, there was short interest totaling 12,232,224 shares, an increase of 29.3% from the March 15th total of 9,458,450 shares. Currently, 30.8% of the company’s shares are short sold. Based on an average trading volume of 1,909,470 shares, the days-to-cover ratio is currently 6.4 days.

PAR Technology Stock Up 3.9%

Shares of NYSE PAR traded up $0.54 during trading on Friday, reaching $14.14. The company had a trading volume of 1,504,529 shares, compared to its average volume of 1,800,126. PAR Technology has a 12-month low of $11.59 and a 12-month high of $72.15. The stock has a market cap of $582.93 million, a PE ratio of -6.80 and a beta of 1.48. The business’s 50-day moving average is $16.52 and its 200 day moving average is $28.60. The company has a quick ratio of 1.46, a current ratio of 1.66 and a debt-to-equity ratio of 0.45.

PAR Technology (NYSE:PAR) last released its earnings results on Thursday, February 26th. The software maker reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.16. PAR Technology had a negative return on equity of 2.32% and a negative net margin of 18.54%.The firm had revenue of $120.10 million for the quarter, compared to analysts’ expectations of $116.39 million. PAR Technology’s quarterly revenue was up 14.4% on a year-over-year basis. As a group, equities analysts forecast that PAR Technology will post -1.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Stephens reduced their price target on PAR Technology from $60.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. William Blair reaffirmed an “outperform” rating on shares of PAR Technology in a research note on Friday, March 13th. Benchmark reduced their price target on PAR Technology from $42.00 to $33.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. BTIG Research reduced their price target on PAR Technology from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PAR Technology in a research note on Friday, March 27th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $33.20.

Insider Activity at PAR Technology

In related news, CAO Michael Anthony Steenberge sold 2,342 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $17.49, for a total value of $40,961.58. Following the sale, the chief accounting officer directly owned 26,439 shares of the company’s stock, valued at $462,418.11. This represents a 8.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Cathy A. King sold 6,109 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $17.49, for a total value of $106,846.41. Following the completion of the sale, the insider directly owned 58,143 shares in the company, valued at approximately $1,016,921.07. The trade was a 9.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have purchased 435,100 shares of company stock valued at $11,115,692 and have sold 90,689 shares valued at $1,600,226. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On PAR Technology

A number of institutional investors have recently modified their holdings of the stock. ProShare Advisors LLC grew its stake in shares of PAR Technology by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 7,330 shares of the software maker’s stock worth $266,000 after acquiring an additional 471 shares during the last quarter. SkyView Investment Advisors LLC grew its stake in shares of PAR Technology by 3.3% in the second quarter. SkyView Investment Advisors LLC now owns 16,915 shares of the software maker’s stock worth $1,153,000 after acquiring an additional 548 shares during the last quarter. &PARTNERS boosted its position in shares of PAR Technology by 10.6% during the fourth quarter. &PARTNERS now owns 6,444 shares of the software maker’s stock valued at $234,000 after buying an additional 620 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of PAR Technology by 6.8% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 9,835 shares of the software maker’s stock valued at $357,000 after buying an additional 622 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of PAR Technology during the third quarter valued at $26,000.

PAR Technology Company Profile

PAR Technology Corp is a provider of enterprise software and hardware solutions for the hospitality, foodservice and retail industries. The company’s platforms are designed to streamline front- and back-of-house operations, covering point-of-sale (POS) systems, kitchen display and dispatch, inventory and labor management, and reporting tools. PAR’s integrated approach enables operators of full-service restaurants, quick-service chains, bars, hotels, casinos and retail outlets to centralize data and automate workflows across multiple sites.

Key offerings include PAR Brink, a cloud-native POS application that supports touchscreen, mobile and tablet devices; PAR Cloud Services, which delivers software updates, reporting and analytics through a subscription model; and hardware solutions such as payment terminals, handheld devices and self-service kiosks.