Insider Buying: PAR Technology (NYSE:PAR) Major Shareholder Purchases 125,000 Shares of Stock

PAR Technology Corporation (NYSE:PAR) major shareholder Voss Capital, Lp purchased 125,000 shares of PAR Technology stock in a transaction dated Friday, May 15th. The stock was bought at an average price of $14.62 per share, for a total transaction of $1,827,500.00. Following the completion of the purchase, the insider owned 4,775,000 shares in the company, valued at $69,810,500. This represents a 2.69% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, May 14th, Voss Capital, Lp purchased 594,900 shares of PAR Technology stock. The stock was bought at an average price of $14.59 per share, for a total transaction of $8,679,591.00.

PAR Technology Price Performance

Shares of PAR traded down $0.68 during mid-day trading on Monday, reaching $14.03. The company had a trading volume of 1,446,666 shares, compared to its average volume of 1,400,699. The company’s 50 day simple moving average is $14.19 and its 200 day simple moving average is $25.46. The company has a market capitalization of $578.53 million, a price-to-earnings ratio of -7.50 and a beta of 1.32. PAR Technology Corporation has a 1-year low of $11.59 and a 1-year high of $72.15. 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 issued its quarterly earnings data on Thursday, May 7th. The software maker reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The business 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%. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.01) EPS. Analysts expect that PAR Technology Corporation will post -0.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PAR. William Blair reiterated an “outperform” rating on shares of PAR Technology in a report on Friday, March 13th. BTIG Research dropped their price objective on shares of PAR Technology from $60.00 to $45.00 and set a “buy” rating for the company in a report 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 report on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of PAR Technology in a report on Friday, March 27th. Finally, Needham & Company LLC dropped their price objective on shares of PAR Technology from $30.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, April 9th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.67.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new position in PAR Technology during the 3rd quarter worth approximately $26,000. Aster Capital Management DIFC Ltd bought a new position in PAR Technology during the 3rd quarter worth approximately $28,000. State of Wyoming bought a new stake in shares of PAR Technology in the 4th quarter valued at $34,000. Kestra Advisory Services LLC bought a new stake in shares of PAR Technology in the 4th quarter valued at $35,000. Finally, Central Pacific Bank Trust Division increased its stake in shares of PAR Technology by 50.0% in the 4th quarter. Central Pacific Bank Trust Division now owns 3,000 shares of the software maker’s stock valued at $109,000 after acquiring an additional 1,000 shares in the last quarter.

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.