Rice Hall James & Associates LLC Makes New Investment in PAR Technology Corporation $PAR

Rice Hall James & Associates LLC purchased a new stake in PAR Technology Corporation (NYSE:PAR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 378,930 shares of the software maker’s stock, valued at approximately $6,601,000. Rice Hall James & Associates LLC owned 0.92% of PAR Technology as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. T. Rowe Price Investment Management Inc. grew its position in shares of PAR Technology by 3.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,916,459 shares of the software maker’s stock worth $214,650,000 after buying an additional 201,782 shares in the last quarter. Vanguard Group Inc. raised its holdings in PAR Technology by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 3,304,052 shares of the software maker’s stock valued at $119,871,000 after acquiring an additional 12,250 shares in the last quarter. Progeny 3 Inc. raised its holdings in PAR Technology by 5.6% in the first quarter. Progeny 3 Inc. now owns 2,170,808 shares of the software maker’s stock valued at $28,937,000 after acquiring an additional 114,500 shares in the last quarter. Reinhart Partners LLC. lifted its stake in PAR Technology by 45.6% in the fourth quarter. Reinhart Partners LLC. now owns 1,309,860 shares of the software maker’s stock worth $47,522,000 after acquiring an additional 410,183 shares during the last quarter. Finally, Greenstone Partners & Co. LLC acquired a new position in PAR Technology during the 4th quarter worth approximately $36,981,000.

Analyst Ratings Changes

Several research firms recently commented on PAR. Jefferies Financial Group set a $18.00 target price on PAR Technology in a report on Saturday, May 9th. The Goldman Sachs Group raised their target price on PAR Technology from $18.00 to $20.50 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Weiss Ratings restated a “sell (e+)” rating on shares of PAR Technology in a research note on Friday, July 10th. JPMorgan Chase & Co. increased their price target on shares of PAR Technology from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Finally, BTIG Research reduced their price objective on shares of PAR Technology from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.61.

Insider Buying and Selling

In other news, major shareholder Voss Capital, Lp bought 193,751 shares of PAR Technology stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $14.15 per share, for a total transaction of $2,741,576.65. Following the acquisition, the insider owned 4,968,751 shares in the company, valued at approximately $70,307,826.65. This trade represents a 4.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Cathy A. King sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $15.38, for a total transaction of $307,600.00. Following the sale, the insider owned 122,919 shares in the company, valued at approximately $1,890,494.22. This trade represents a 13.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders purchased 361,518 shares of company stock worth $5,261,827 in the last ninety days. Insiders own 2.30% of the company’s stock.

PAR Technology Stock Down 3.0%

PAR stock opened at $18.48 on Tuesday. The stock has a market capitalization of $764.33 million, a PE ratio of -10.50 and a beta of 1.33. The company has a fifty day moving average of $16.65 and a 200-day moving average of $16.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.89 and a current ratio of 2.21. PAR Technology Corporation has a one year low of $11.59 and a one year high of $54.62.

PAR Technology (NYSE:PAR) last posted its quarterly earnings results on Thursday, August 6th. The software maker reported $0.18 EPS for the quarter, beating the consensus estimate of $0.12 by $0.06. PAR Technology had a negative return on equity of 1.62% and a negative net margin of 14.52%.The business had revenue of $133.41 million during the quarter, compared to analysts’ expectations of $124.66 million. During the same period last year, the firm earned $0.03 EPS. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. As a group, analysts expect that PAR Technology Corporation will post -0.16 EPS for the current year.

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.