Bandera Partners LLC Purchases Shares of 700,000 PAR Technology Corporation $PAR

Bandera Partners LLC acquired a new stake in PAR Technology Corporation (NYSE:PAR) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 700,000 shares of the software maker’s stock, valued at approximately $9,331,000. PAR Technology makes up 4.2% of Bandera Partners LLC’s portfolio, making the stock its 7th largest position.

A number of other hedge funds have also recently made changes to their positions in the business. Greenstone Partners & Co. LLC bought a new stake in PAR Technology during the 4th quarter valued at approximately $36,981,000. SG Americas Securities LLC bought a new position in shares of PAR Technology during the fourth quarter worth $27,274,000. Reinhart Partners LLC. grew its stake in PAR Technology by 45.6% during the fourth quarter. Reinhart Partners LLC. now owns 1,309,860 shares of the software maker’s stock valued at $47,522,000 after acquiring an additional 410,183 shares in the last quarter. Progeny 3 Inc. grew its stake in PAR Technology by 18.7% during the fourth quarter. Progeny 3 Inc. now owns 2,056,308 shares of the software maker’s stock valued at $74,603,000 after acquiring an additional 323,990 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in PAR Technology by 3,057.2% in the 3rd quarter. Marshall Wace LLP now owns 271,930 shares of the software maker’s stock valued at $10,763,000 after acquiring an additional 263,317 shares during the last quarter.

PAR Technology Stock Up 1.5%

NYSE PAR opened at $15.56 on Friday. The company has a quick ratio of 1.83, a current ratio of 2.10 and a debt-to-equity ratio of 0.51. The company has a fifty day moving average of $15.69 and a two-hundred day moving average of $18.68. The firm has a market capitalization of $641.97 million, a price-to-earnings ratio of -8.32 and a beta of 1.32. PAR Technology Corporation has a 52 week low of $11.59 and a 52 week high of $70.86.

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. The business had revenue of $123.97 million for the quarter, compared to the consensus estimate of $116.88 million. PAR Technology had a negative net margin of 16.04% and a negative return on equity of 2.57%. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. On average, analysts predict that PAR Technology Corporation will post -0.16 earnings per share for the current year.

Insider Activity

In other PAR Technology news, insider Cathy A. King sold 20,000 shares of the business’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 completion of the transaction, the insider owned 122,919 shares in the company, valued at $1,890,494.22. The trade was a 13.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Voss Capital, Lp bought 156,249 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were acquired at an average cost of $14.85 per share, for a total transaction of $2,320,297.65. Following the purchase, the insider owned 5,125,000 shares of the company’s stock, valued at approximately $76,106,250. The trade was a 3.14% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 1,069,900 shares of company stock valued at $15,568,965. 2.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Royal Bank Of Canada set a $16.00 price target on shares of PAR Technology in a research note on Tuesday, June 9th. 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. JPMorgan Chase & Co. raised their price target on PAR Technology from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, June 24th. UBS Group set a $16.00 price objective on PAR Technology in a report on Tuesday, June 9th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of PAR Technology in a research report on Friday, July 10th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.17.

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.