Key Points
- Insider sale: Elizabeth Codner sold 653 PAR Technology shares for $12,596.37 under a pre-arranged Rule 10b5-1 plan to cover tax withholding, reducing her holdings by 2.08% to 30,789 shares.
- Stock and earnings: PAR shares opened at $18.32 after a reported 7.3% decline. The company exceeded quarterly earnings and revenue estimates, posting $0.18 EPS and $133.41 million in revenue, though it remains unprofitable.
- Analyst outlook: Analysts maintain a consensus “Moderate Buy” rating with an average price target of $24.61, while institutional investors—including BlackRock and California State Teachers Retirement System—have recently built positions.
PAR Technology Corporation (NYSE:PAR - Get Free Report) insider Elizabeth Codner sold 653 shares of the business's stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $19.29, for a total value 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 Down 7.3%
Shares of NYSE PAR opened at $18.32 on Wednesday. PAR Technology Corporation has a one year low of $11.59 and a one year high of $48.27. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.21 and a quick ratio of 1.89. The firm's 50 day simple moving average is $17.87 and its two-hundred day simple moving average is $16.08. The stock has a market capitalization of $757.67 million, a P/E ratio of -10.41 and a beta of 1.33.
PAR Technology (NYSE:PAR - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The software maker reported $0.18 EPS for the quarter, topping the consensus estimate of $0.12 by $0.06. The firm had revenue of $133.41 million for the quarter, compared to the consensus estimate of $124.66 million. PAR Technology had a negative net margin of 14.52% and a negative return on equity of 1.62%. The business's revenue was up 18.7% compared to the same quarter last year. During the same period last year, the firm posted $0.03 earnings per share. As a group, analysts expect that PAR Technology Corporation will post -0.13 EPS for the current fiscal year.
Institutional Investors Weigh In On PAR Technology
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in PAR Technology in the 2nd quarter worth $70,563,000. Greenstone Partners & Co. LLC bought a new position in shares of PAR Technology during the fourth quarter valued at approximately $36,981,000. California State Teachers Retirement System increased its position in PAR Technology by 2,290.0% during the 2nd quarter. California State Teachers Retirement System now owns 893,472 shares of the software maker's stock valued at $15,564,000 after buying an additional 856,089 shares in the last quarter. Bandera Partners LLC bought a new position in shares of PAR Technology during the first quarter valued at $9,331,000. Finally, Renaissance Technologies LLC purchased a new position in PAR Technology in the first quarter worth about $5,508,000.
Analysts Set New Price Targets
A number of brokerages recently commented on PAR. UBS Group set a $16.00 target price on shares of PAR Technology in a research report on Tuesday, June 9th. The Goldman Sachs Group raised their price objective on PAR Technology from $18.00 to $20.50 and gave the company a "neutral" rating in a research note on Thursday, July 9th. BTIG Research decreased their price objective on PAR Technology from $45.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, August 7th. Royal Bank Of Canada set a $16.00 target price on PAR Technology in a research note on Tuesday, June 9th. Finally, Weiss Ratings upgraded PAR Technology from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, August 27th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $24.61.
View Our Latest Research Report on PAR Technology
PAR Technology Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
