PAR Technology Corporation (NYSE:PAR) Short Interest Update

PAR Technology Corporation (NYSE:PAR) was the recipient of a large increase in short interest in the month of 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 shares of the company are short sold. Based on an average daily volume of 1,909,470 shares, the days-to-cover ratio is currently 6.4 days.

PAR Technology Stock Up 3.9%

PAR Technology stock opened at $14.14 on Friday. PAR Technology has a twelve month low of $11.59 and a twelve month high of $72.15. The stock has a 50 day moving average of $16.52 and a two-hundred day moving average of $28.60. The company has a current ratio of 1.66, a quick ratio of 1.46 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $582.93 million, a price-to-earnings ratio of -6.80 and a beta of 1.48.

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

Insider Transactions at PAR Technology

In related news, CFO Bryan A. Menar sold 1,636 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $18.27, for a total value of $29,889.72. Following the completion of the sale, the chief financial officer directly owned 63,257 shares of the company’s stock, valued at $1,155,705.39. This represents a 2.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Michael Anthony Steenberge sold 2,342 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $17.49, for a total value of $40,961.58. Following the completion of the sale, the chief accounting officer directly owned 26,439 shares of the company’s stock, valued at approximately $462,418.11. This trade represents a 8.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders acquired 435,100 shares of company stock worth $11,115,692 and sold 90,689 shares worth $1,600,226. Company insiders own 3.70% of the company’s stock.

Institutional Trading of PAR Technology

Several hedge funds have recently modified their holdings of PAR. FNY Investment Advisers LLC acquired a new stake in shares of PAR Technology in the 3rd quarter valued at approximately $26,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of PAR Technology in the 3rd quarter valued at approximately $28,000. State of Wyoming acquired a new stake in shares of PAR Technology in the 4th quarter valued at approximately $34,000. Kestra Advisory Services LLC acquired a new stake in shares of PAR Technology in the 4th quarter valued at approximately $35,000. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of PAR Technology in the 3rd quarter valued at approximately $36,000.

Analyst Ratings Changes

PAR has been the subject of a number of research analyst reports. Stephens decreased their target price on PAR Technology from $60.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. The Goldman Sachs Group decreased their target price on PAR Technology from $40.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. Benchmark decreased their price objective on PAR Technology from $42.00 to $33.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PAR Technology in a research report on Friday, March 27th. Finally, Needham & Company LLC decreased their price objective on PAR Technology from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.20.

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.