Insider Buying: PAR Technology (NYSE:PAR) Major Shareholder Acquires $8,679,591.00 in Stock

PAR Technology Corporation (NYSE:PAR) major shareholder Voss Capital, Lp purchased 594,900 shares of PAR Technology stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average price of $14.59 per share, for a total transaction of $8,679,591.00. Following the transaction, the insider directly owned 4,675,000 shares of the company’s stock, valued at $68,208,250. The trade was a 14.58% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Voss Capital, Lp also recently made the following trade(s):

• On Friday, May 15th, Voss Capital, Lp purchased 125,000 shares of PAR Technology stock. The stock was acquired at an average price of $14.62 per share, for a total transaction of $1,827,500.00.

PAR Technology Trading Down 0.5%

Shares of PAR opened at $14.64 on Thursday. The company’s fifty day moving average is $14.02 and its 200 day moving average is $25.18. PAR Technology Corporation has a fifty-two week low of $11.59 and a fifty-two week high of $72.15. The stock has a market capitalization of $603.86 million, a PE ratio of -7.83 and a beta of 1.32. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.83 and a current ratio of 2.10.

PAR Technology (NYSE:PAR) last posted its quarterly earnings data on Thursday, May 7th. The software maker reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. The company had revenue of $123.97 million during the quarter, compared to analyst estimates of $116.88 million. PAR Technology had a negative net margin of 16.04% and a negative return on equity of 2.57%. PAR Technology’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.01) earnings per share. Sell-side analysts expect that PAR Technology Corporation will post -0.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PAR Technology in a research note on Friday, March 27th. Stephens dropped their price objective on shares of PAR Technology from $60.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. The Goldman Sachs Group dropped their price objective on shares of PAR Technology from $40.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Benchmark dropped their price objective on shares of PAR Technology from $42.00 to $33.00 and set a “buy” rating for the company in a research note on Monday, March 16th. Finally, William Blair reaffirmed an “outperform” rating on shares of PAR Technology in a research note on Friday, March 13th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.67.

Institutional Trading of PAR Technology

Large investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC purchased a new stake in shares of PAR Technology during the third quarter valued at $26,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of PAR Technology during the third quarter valued at $28,000. State of Wyoming purchased a new stake in shares of PAR Technology during the fourth quarter valued at $34,000. Kestra Advisory Services LLC purchased a new stake in shares of PAR Technology during the fourth quarter valued at $35,000. Finally, Central Pacific Bank Trust Division boosted its stake in shares of PAR Technology by 50.0% during the fourth quarter. Central Pacific Bank Trust Division now owns 3,000 shares of the software maker’s stock valued at $109,000 after purchasing an additional 1,000 shares during the period.

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.