PAR Technology (NYSE:PAR) Major Shareholder Acquires $2,741,576.65 in Stock

PAR Technology Corporation (NYSE:PAR) major shareholder Voss Capital, Lp bought 193,751 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $14.15 per share, for a total transaction of $2,741,576.65. Following the transaction, the insider directly owned 4,968,751 shares in the company, valued at $70,307,826.65. This trade represents a 4.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own at least 10% 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, June 12th, Voss Capital, Lp acquired 156,249 shares of PAR Technology stock. The shares were acquired at an average price of $14.85 per share, for a total transaction of $2,320,297.65.
• On Friday, May 15th, Voss Capital, Lp acquired 125,000 shares of PAR Technology stock. The shares were acquired at an average price of $14.62 per share, for a total transaction of $1,827,500.00.
• On Thursday, May 14th, Voss Capital, Lp acquired 594,900 shares of PAR Technology stock. The shares were acquired at an average price of $14.59 per share, for a total transaction of $8,679,591.00.

PAR Technology Stock Performance

PAR opened at $14.80 on Thursday. The company has a current ratio of 2.10, a quick ratio of 1.83 and a debt-to-equity ratio of 0.51. The company’s fifty day moving average price is $14.20 and its two-hundred day moving average price is $22.22. PAR Technology Corporation has a 1-year low of $11.59 and a 1-year high of $72.15. The company has a market cap of $610.50 million, a price-to-earnings ratio of -7.91 and a beta of 1.35.

PAR Technology (NYSE:PAR) last released its quarterly earnings data on Thursday, May 7th. The software maker reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.03. PAR Technology had a negative net margin of 16.04% and a negative return on equity of 2.57%. The firm had revenue of $123.97 million for the quarter, compared to the consensus estimate of $116.88 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The business’s revenue was up 19.4% on a year-over-year basis. On average, analysts expect that PAR Technology Corporation will post -0.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on PAR. Royal Bank Of Canada set a $16.00 target price on shares of PAR Technology in a report on Tuesday, June 9th. JPMorgan Chase & Co. upgraded shares of PAR Technology from an “underweight” rating to a “neutral” rating and increased their target price for the company from $12.00 to $16.00 in a report on Tuesday, June 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of PAR Technology in a report on Friday, March 27th. UBS Group set a $16.00 target price on shares of PAR Technology in a report on Tuesday, June 9th. Finally, William Blair restated 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, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.78.

Hedge Funds Weigh In On PAR Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC bought a new position in PAR Technology during the third quarter worth about $26,000. Aster Capital Management DIFC Ltd bought a new position in PAR Technology during the third quarter worth about $28,000. State of Wyoming bought a new position in PAR Technology during the fourth quarter worth about $34,000. Kestra Advisory Services LLC bought a new position in PAR Technology during the fourth quarter worth about $35,000. Finally, Central Pacific Bank Trust Division boosted its position in 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 worth $109,000 after purchasing an additional 1,000 shares during the period.

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.