Short Interest in PAR Technology Co. (NYSE:PAR) Declines By 13.7%

PAR Technology Co. (NYSE:PAR) saw a large decrease in short interest in December. As of December 15th, there was short interest totalling 4,360,000 shares, a decrease of 13.7% from the November 30th total of 5,050,000 shares. Based on an average daily trading volume, of 493,100 shares, the days-to-cover ratio is currently 8.8 days.

PAR Technology Price Performance

PAR traded down $0.51 during midday trading on Tuesday, hitting $72.92. The company had a trading volume of 46,680 shares, compared to its average volume of 362,458. PAR Technology has a twelve month low of $37.74 and a twelve month high of $82.24. The company has a market capitalization of $2.65 billion, a PE ratio of -291.67 and a beta of 2.20. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.91 and a current ratio of 2.13. The firm’s 50-day simple moving average is $72.40 and its 200-day simple moving average is $59.04.

PAR Technology (NYSE:PAR) last posted its quarterly earnings data on Friday, November 8th. The software maker reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.01. The firm had revenue of $96.80 million during the quarter, compared to analysts’ expectations of $91.01 million. PAR Technology had a negative net margin of 0.66% and a negative return on equity of 8.99%. PAR Technology’s revenue was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.35) EPS. Equities research analysts predict that PAR Technology will post -1.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PAR. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of PAR Technology in a research note on Tuesday, November 26th. Craig Hallum raised their target price on PAR Technology from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Lake Street Capital upped their price target on PAR Technology from $57.00 to $77.00 and gave the company a “buy” rating in a research report on Monday, November 11th. StockNews.com raised PAR Technology to a “sell” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group upped their target price on shares of PAR Technology from $71.00 to $79.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $79.25.

Institutional Trading of PAR Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PAR. Arcadia Investment Management Corp MI bought a new position in shares of PAR Technology in the 2nd quarter valued at about $32,000. Amalgamated Bank grew its holdings in PAR Technology by 25.5% during the 2nd quarter. Amalgamated Bank now owns 1,166 shares of the software maker’s stock worth $55,000 after acquiring an additional 237 shares during the period. nVerses Capital LLC bought a new stake in shares of PAR Technology during the 3rd quarter valued at $125,000. Principal Financial Group Inc. acquired a new position in shares of PAR Technology in the 2nd quarter valued at $211,000. Finally, Victory Capital Management Inc. boosted its position in shares of PAR Technology by 5.1% in the 3rd quarter. Victory Capital Management Inc. now owns 4,524 shares of the software maker’s stock worth $236,000 after purchasing an additional 219 shares during the last quarter.

About PAR Technology

PAR Technology Corporation, together with its subsidiaries, provides omnichannel cloud-based hardware and software solutions to the restaurant and retail industries worldwide. The Restaurant/Retail segment offers PUNCHH, an enterprise-grade customer loyalty and engagement solution; MENU, an eCommerce platform for restaurant brands; BRINK POS, an open cloud, point-of-sale solution; PAR PAYMENT SERVICES, a merchant services business that enables electronic payment and processing services for businesses; and DATA CENTRAL, a back-office solution that leverages business intelligence and automation technologies.