PAR Technology (NYSE:PAR) Major Shareholder Voss Capital, Lp Buys 193,751 Shares

PAR Technology Corporation (NYSE:PAR) major shareholder Voss Capital, Lp acquired 193,751 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of $14.15 per share, with a total value of $2,741,576.65. Following the completion of the purchase, the insider owned 4,968,751 shares in the company, valued at $70,307,826.65. This represents a 4.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, June 12th, Voss Capital, Lp bought 156,249 shares of PAR Technology stock. The stock was purchased at an average price of $14.85 per share, for a total transaction of $2,320,297.65.
• On Friday, May 15th, Voss Capital, Lp purchased 125,000 shares of PAR Technology stock. The stock was purchased at an average cost of $14.62 per share, for a total transaction of $1,827,500.00.
• On Thursday, May 14th, Voss Capital, Lp purchased 594,900 shares of PAR Technology stock. The stock was purchased at an average cost of $14.59 per share, for a total transaction of $8,679,591.00.

PAR Technology Stock Down 1.8%

Shares of PAR opened at $14.64 on Tuesday. The stock has a 50 day moving average price of $14.15 and a 200 day moving average price of $22.49. PAR Technology Corporation has a one year low of $11.59 and a one 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. The stock has a market capitalization of $603.82 million, a price-to-earnings ratio of -7.83 and a beta of 1.35.

PAR Technology (NYSE:PAR) last announced its quarterly earnings data on Thursday, May 7th. The software maker reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $123.97 million for the quarter, compared to analyst estimates of $116.88 million. During the same quarter last year, the firm posted ($0.01) EPS. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. Equities research analysts forecast that PAR Technology Corporation will post -0.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PAR. JPMorgan Chase & Co. raised shares of PAR Technology from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $12.00 to $16.00 in a research note on Tuesday, June 9th. Benchmark decreased their target price on shares of PAR Technology from $42.00 to $33.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. 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. The Goldman Sachs Group dropped their price target 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. Finally, Needham & Company LLC cut their price target on PAR Technology from $30.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, April 9th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.78.

Institutional Investors Weigh In On PAR Technology

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

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.