PAR Technology Co. (NYSE:PAR) Short Interest Down 13.7% in December

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

PAR Technology Stock Down 0.7 %

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

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

Analyst Upgrades and Downgrades

PAR has been the topic of a number of recent analyst reports. StockNews.com raised shares of PAR Technology to a “sell” rating in a report on Thursday, November 7th. Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of PAR Technology in a report on Tuesday, November 26th. The Goldman Sachs Group lifted their price objective on PAR Technology from $71.00 to $79.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Benchmark increased their target price on PAR Technology from $69.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Craig Hallum upped their price target on shares of PAR Technology from $65.00 to $85.00 and gave the company a “buy” rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $79.25.

Institutional Trading of PAR Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. TimesSquare Capital Management LLC bought a new stake in PAR Technology during the third quarter worth $14,398,000. Bamco Inc. NY boosted its stake in shares of PAR Technology by 15.2% during the 3rd quarter. Bamco Inc. NY now owns 1,170,908 shares of the software maker’s stock worth $60,981,000 after acquiring an additional 154,921 shares during the period. Progeny 3 Inc. increased its holdings in shares of PAR Technology by 10.9% during the 2nd quarter. Progeny 3 Inc. now owns 1,320,858 shares of the software maker’s stock worth $62,199,000 after acquiring an additional 129,810 shares during the last quarter. Fred Alger Management LLC bought a new stake in PAR Technology in the 3rd quarter valued at $6,600,000. Finally, Magnolia Capital Advisors LLC acquired a new stake in PAR Technology during the 2nd quarter valued at $3,881,000.

PAR Technology Company Profile

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.