Capital Research Global Investors Boosts Position in PAR Technology Corporation $PAR

Capital Research Global Investors grew its position in PAR Technology Corporation (NYSE:PAR) by 17.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,237,004 shares of the software maker’s stock after buying an additional 476,839 shares during the quarter. Capital Research Global Investors owned 0.08% of PAR Technology worth $128,121,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Swiss National Bank boosted its position in shares of PAR Technology by 1.6% in the 3rd quarter. Swiss National Bank now owns 78,500 shares of the software maker’s stock worth $3,107,000 after buying an additional 1,200 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in PAR Technology during the 3rd quarter valued at about $961,000. First Trust Advisors LP increased its holdings in PAR Technology by 6.9% during the 3rd quarter. First Trust Advisors LP now owns 29,662 shares of the software maker’s stock valued at $1,174,000 after acquiring an additional 1,912 shares in the last quarter. Rovida Advisors Inc. raised its position in PAR Technology by 50.6% during the third quarter. Rovida Advisors Inc. now owns 750,000 shares of the software maker’s stock worth $29,678,000 after acquiring an additional 252,156 shares during the last quarter. Finally, Norwood Investment Partners LP raised its position in PAR Technology by 16.1% during the third quarter. Norwood Investment Partners LP now owns 108,000 shares of the software maker’s stock worth $4,275,000 after acquiring an additional 15,000 shares during the last quarter.

Analyst Ratings Changes

Several research firms have recently commented on PAR. Benchmark lowered their price target on shares of PAR Technology from $77.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. The Goldman Sachs Group cut their price objective on PAR Technology from $40.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. BTIG Research lowered their target price on PAR Technology from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Stephens cut their price target on PAR Technology from $60.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, February 27th. Finally, Needham & Company LLC decreased their price objective on PAR Technology from $55.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, PAR Technology presently has an average rating of “Moderate Buy” and a consensus target price of $36.00.

Insiders Place Their Bets

In other PAR Technology news, major shareholder Voss Capital, Lp purchased 65,100 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were purchased at an average cost of $22.44 per share, with a total value of $1,460,844.00. Following the purchase, the insider owned 4,140,100 shares in the company, valued at approximately $92,903,844. This represents a 1.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Bryan A. Menar sold 1,636 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $18.27, for a total value of $29,889.72. Following the completion of the sale, the chief financial officer directly owned 63,257 shares in the company, valued at approximately $1,155,705.39. The trade was a 2.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have bought 722,237 shares of company stock valued at $21,772,998 and have sold 90,689 shares valued at $1,600,226. Company insiders own 3.70% of the company’s stock.

PAR Technology Stock Down 0.4%

Shares of NYSE PAR opened at $16.73 on Thursday. The firm has a market cap of $688.23 million, a P/E ratio of -8.04 and a beta of 1.36. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.46 and a current ratio of 1.66. PAR Technology Corporation has a 1 year low of $15.44 and a 1 year high of $72.15. The firm’s 50 day moving average price is $26.59 and its 200 day moving average price is $34.57.

PAR Technology (NYSE:PAR) last issued its quarterly earnings results on Thursday, February 26th. The software maker reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.16. PAR Technology had a negative return on equity of 2.32% and a negative net margin of 18.54%.The company had revenue of $120.10 million during the quarter, compared to the consensus estimate of $116.39 million. PAR Technology’s revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that PAR Technology Corporation will post -1.47 earnings per share for the current year.

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.