CenterBook Partners LP Cuts Position in PAR Technology Corporation $PAR

CenterBook Partners LP trimmed its holdings in shares of PAR Technology Corporation (NYSE:PAR) by 41.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,373 shares of the software maker’s stock after selling 47,108 shares during the period. CenterBook Partners LP owned about 0.17% of PAR Technology worth $2,444,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of PAR. Royal Bank of Canada increased its stake in PAR Technology by 8.0% during the 1st quarter. Royal Bank of Canada now owns 20,446 shares of the software maker’s stock worth $1,255,000 after buying an additional 1,515 shares during the period. AQR Capital Management LLC purchased a new stake in shares of PAR Technology during the first quarter worth about $309,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of PAR Technology by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,012 shares of the software maker’s stock worth $1,228,000 after acquiring an additional 874 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of PAR Technology by 186,466.7% in the first quarter. Jones Financial Companies Lllp now owns 5,597 shares of the software maker’s stock worth $343,000 after acquiring an additional 5,594 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in PAR Technology by 28.5% in the first quarter. Goldman Sachs Group Inc. now owns 231,494 shares of the software maker’s stock valued at $14,200,000 after purchasing an additional 51,316 shares during the last quarter.

PAR Technology Trading Up 2.3%

PAR Technology stock opened at $13.58 on Wednesday. PAR Technology Corporation has a 12-month low of $11.59 and a 12-month high of $72.15. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.10 and a quick ratio of 1.83. The stock has a market capitalization of $560.13 million, a PE ratio of -7.26 and a beta of 1.35. The firm has a 50 day simple moving average of $14.05 and a 200-day simple moving average of $23.01.

PAR Technology (NYSE:PAR) last announced its 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. PAR Technology had a negative return on equity of 2.57% and a negative net margin of 16.04%.The business had revenue of $123.97 million during the quarter, compared to analysts’ expectations of $116.88 million. During the same quarter last year, the business posted ($0.01) earnings per share. The company’s quarterly revenue was up 19.4% on a year-over-year basis. As a group, equities research analysts expect that PAR Technology Corporation will post -0.28 EPS for the current fiscal year.

Insider Activity at PAR Technology

In related news, major shareholder Voss Capital, Lp bought 594,900 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were bought at an average cost of $14.59 per share, with a total value of $8,679,591.00. Following the completion of the transaction, the insider directly owned 4,675,000 shares of the company’s stock, valued at approximately $68,208,250. This trade represents a 14.58% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Cathy A. King sold 20,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $15.38, for a total value of $307,600.00. Following the sale, the insider directly owned 122,919 shares of the company’s stock, valued at approximately $1,890,494.22. This represents a 13.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PAR. The Goldman Sachs Group decreased 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. JPMorgan Chase & Co. raised shares of PAR Technology from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $12.00 to $16.00 in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PAR Technology in a research report on Friday, March 27th. BTIG Research dropped their price objective on shares of PAR Technology from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Finally, UBS Group set a $16.00 price objective on PAR Technology in a research report on Tuesday. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, PAR Technology presently has an average rating of “Moderate Buy” and an average price target of $25.78.

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.