Elizabeth Codner Sells 653 Shares of PAR Technology (NYSE:PAR) Stock

PAR Technology Corporation (NYSE:PAR) insider Elizabeth Codner sold 653 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $19.29, for a total transaction of $12,596.37. Following the completion of the sale, the insider owned 30,789 shares of the company’s stock, valued at $593,919.81. The trade was a 2.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PAR Technology Stock Performance

PAR traded down $1.45 during trading on Tuesday, hitting $18.32. The stock had a trading volume of 950,210 shares, compared to its average volume of 1,423,459. The firm has a market cap of $757.67 million, a PE ratio of -10.41 and a beta of 1.33. The company has a current ratio of 2.21, a quick ratio of 1.89 and a debt-to-equity ratio of 0.52. PAR Technology Corporation has a 12 month low of $11.59 and a 12 month high of $48.27. The company has a 50 day simple moving average of $17.85 and a 200-day simple moving average of $16.11.

PAR Technology (NYSE:PAR) last posted its quarterly earnings data on Thursday, August 6th. The software maker reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.06. The business had revenue of $133.41 million for the quarter, compared to analyst estimates of $124.66 million. PAR Technology had a negative return on equity of 1.62% and a negative net margin of 14.52%.The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 earnings per share. Analysts expect that PAR Technology Corporation will post -0.13 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on PAR. Weiss Ratings upgraded PAR Technology from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 27th. Royal Bank Of Canada set a $16.00 target price on shares of PAR Technology in a research note on Tuesday, June 9th. JPMorgan Chase & Co. lifted their price objective on PAR Technology from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, August 7th. BTIG Research lowered their price target on PAR Technology from $45.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Finally, UBS Group set a $16.00 target price on shares of PAR Technology in a research note on Tuesday, June 9th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $24.61.

Institutional Trading of PAR Technology

A number of hedge funds and other institutional investors have recently modified their holdings of PAR. T. Rowe Price Investment Management Inc. raised its position in PAR Technology by 3.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,916,459 shares of the software maker’s stock worth $214,650,000 after purchasing an additional 201,782 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of PAR Technology in the 2nd quarter valued at $70,563,000. Vanguard Group Inc. raised its position in shares of PAR Technology by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 3,304,052 shares of the software maker’s stock worth $119,871,000 after acquiring an additional 12,250 shares during the last quarter. Progeny 3 Inc. raised its position in shares of PAR Technology by 5.6% during the first quarter. Progeny 3 Inc. now owns 2,170,808 shares of the software maker’s stock worth $28,937,000 after acquiring an additional 114,500 shares during the last quarter. Finally, Reinhart Partners LLC. lifted its stake in shares of PAR Technology by 45.6% during the fourth quarter. Reinhart Partners LLC. now owns 1,309,860 shares of the software maker’s stock valued at $47,522,000 after acquiring an additional 410,183 shares during the period.

About PAR Technology

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.