Rock Creek Group LP Buys 190,000 Shares of PAR Technology Corporation $PAR

Rock Creek Group LP lifted its stake in PAR Technology Corporation (NYSE:PAR) by 316.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 250,000 shares of the software maker’s stock after purchasing an additional 190,000 shares during the quarter. PAR Technology makes up about 1.0% of Rock Creek Group LP’s portfolio, making the stock its 19th largest holding. Rock Creek Group LP’s holdings in PAR Technology were worth $9,070,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Future Fund LLC boosted its position in shares of PAR Technology by 42.0% in the 4th quarter. Future Fund LLC now owns 30,369 shares of the software maker’s stock worth $1,102,000 after purchasing an additional 8,977 shares in the last quarter. SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of PAR Technology in the 4th quarter worth approximately $405,000. Redmond Asset Management LLC boosted its position in shares of PAR Technology by 6.2% in the 4th quarter. Redmond Asset Management LLC now owns 84,202 shares of the software maker’s stock worth $3,055,000 after purchasing an additional 4,946 shares in the last quarter. Handelsbanken Fonder AB bought a new stake in shares of PAR Technology in the 4th quarter worth approximately $501,000. Finally, ProShare Advisors LLC boosted its position in shares of PAR Technology by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 7,330 shares of the software maker’s stock worth $266,000 after purchasing an additional 471 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently commented on PAR. JPMorgan Chase & Co. began coverage on PAR Technology in a research report on Friday. They issued an “underweight” rating and a $12.00 price target on the stock. BTIG Research dropped their price target on PAR Technology from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of PAR Technology in a research report on Friday, March 27th. William Blair reissued an “outperform” rating on shares of PAR Technology in a research report on Friday, March 13th. Finally, The Goldman Sachs Group lowered their price objective on PAR Technology from $40.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $28.00.

PAR Technology Stock Performance

PAR stock opened at $15.47 on Friday. The stock has a market capitalization of $638.01 million, a PE ratio of -8.27 and a beta of 1.32. PAR Technology Corporation has a 12-month low of $11.59 and a 12-month high of $72.15. 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 stock’s 50 day simple moving average is $13.95 and its 200 day simple moving average is $24.26.

PAR Technology (NYSE:PAR) last released its quarterly earnings results on Thursday, May 7th. The software maker reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.03. The firm had revenue of $123.97 million for the quarter, compared to analysts’ expectations of $116.88 million. PAR Technology had a negative return on equity of 2.57% and a negative net margin of 16.04%.The company’s revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.01) EPS. As a group, research analysts forecast that PAR Technology Corporation will post -0.3 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Cathy A. King sold 6,109 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $17.49, for a total transaction of $106,846.41. Following the transaction, the insider directly owned 58,143 shares of the company’s stock, valued at $1,016,921.07. This represents a 9.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Bryan A. Menar sold 6,588 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $17.49, for a total value of $115,224.12. Following the transaction, the chief financial officer directly owned 64,893 shares in the company, valued at $1,134,978.57. The trade was a 9.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 90,689 shares of company stock worth $1,600,226. Insiders own 2.30% of the company’s stock.

PAR Technology 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.