Polar Asset Management Partners Inc. Grows Stock Holdings in PAR Technology Corporation $PAR

Polar Asset Management Partners Inc. increased its position in shares of PAR Technology Corporation (NYSE:PAR) by 89.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,262 shares of the software maker’s stock after purchasing an additional 54,262 shares during the period. Polar Asset Management Partners Inc. owned 0.28% of PAR Technology worth $4,562,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new stake in PAR Technology during the 3rd quarter worth about $28,000. Manning & Napier Advisors LLC purchased a new position in shares of PAR Technology in the 3rd quarter valued at about $36,000. Advisors Asset Management Inc. increased its holdings in shares of PAR Technology by 68.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 563 shares of the software maker’s stock valued at $39,000 after acquiring an additional 229 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of PAR Technology during the 3rd quarter worth about $204,000. Finally, Pring Turner Capital Group Inc. lifted its stake in PAR Technology by 40.9% during the third quarter. Pring Turner Capital Group Inc. now owns 5,436 shares of the software maker’s stock worth $215,000 after purchasing an additional 1,577 shares during the last quarter.

PAR Technology Stock Performance

NYSE:PAR opened at $14.42 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.66 and a quick ratio of 1.46. The firm has a market cap of $593.30 million, a price-to-earnings ratio of -6.93 and a beta of 1.36. The firm’s fifty day moving average price is $24.51 and its 200 day moving average price is $33.28. PAR Technology Corporation has a 1-year low of $12.48 and a 1-year high of $72.15.

PAR Technology (NYSE:PAR) last announced its quarterly earnings data on Thursday, February 26th. The software maker reported $0.06 EPS 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 the consensus estimate of $116.39 million. PAR Technology had a negative net margin of 18.54% and a negative return on equity of 2.32%. The company’s revenue was up 14.4% on a year-over-year basis. On average, sell-side analysts expect that PAR Technology Corporation will post -1.47 EPS for the current year.

Insider Activity

In other PAR Technology news, CEO Savneet Singh sold 57,605 shares of PAR Technology stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $17.49, for a total value of $1,007,511.45. Following the sale, the chief executive officer owned 252,537 shares of the company’s stock, valued at approximately $4,416,872.13. The trade was a 18.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Voss Capital, Lp bought 182,862 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were acquired at an average price of $22.89 per share, for a total transaction of $4,185,711.18. Following the transaction, the insider directly owned 4,075,000 shares in the company, valued at $93,276,750. This trade represents a 4.70% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have purchased 722,237 shares of company stock valued at $21,772,998 and have sold 90,689 shares valued at $1,600,226. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

PAR has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PAR Technology in a report on Monday, December 29th. Stephens cut their price objective on shares of PAR Technology from $60.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. BTIG Research reduced their price objective on shares of PAR Technology from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, February 27th. The Goldman Sachs Group lowered their target price on shares of PAR Technology from $40.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. Finally, William Blair reaffirmed an “outperform” rating on shares of PAR Technology in a research report on Friday, March 13th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, PAR Technology presently has an average rating of “Moderate Buy” and an average price target of $34.20.

PAR Technology Company Profile

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.