PAR Technology (NYSE:PAR) Major Shareholder Voss Capital, Lp Acquires 156,249 Shares

PAR Technology Corporation (NYSE:PAR) major shareholder Voss Capital, Lp acquired 156,249 shares of the company’s stock in a transaction on Friday, June 12th. The stock was acquired at an average price of $14.85 per share, for a total transaction of $2,320,297.65. Following the purchase, the insider directly owned 5,125,000 shares of the company’s stock, valued at approximately $76,106,250. This trade represents a 3.14% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, June 11th, Voss Capital, Lp acquired 193,751 shares of PAR Technology stock. The stock was acquired at an average cost of $14.15 per share, with a total value of $2,741,576.65.
• On Friday, May 15th, Voss Capital, Lp bought 125,000 shares of PAR Technology stock. The shares were acquired at an average price of $14.62 per share, with a total value of $1,827,500.00.
• On Thursday, May 14th, Voss Capital, Lp bought 594,900 shares of PAR Technology stock. The shares were acquired at an average cost of $14.59 per share, for a total transaction of $8,679,591.00.

PAR Technology Stock Down 1.8%

PAR opened at $14.64 on Tuesday. PAR Technology Corporation has a 1-year low of $11.59 and a 1-year high of $72.15. The stock’s fifty day simple moving average is $14.15 and its 200 day simple moving average is $22.49. The company has a current ratio of 2.10, a quick ratio of 1.83 and a debt-to-equity ratio of 0.51. The stock has a market cap of $603.82 million, a PE ratio of -7.83 and a beta of 1.35.

PAR Technology (NYSE:PAR) last released its quarterly earnings data on Thursday, May 7th. The software maker reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. PAR Technology had a negative net margin of 16.04% and a negative return on equity of 2.57%. The firm had revenue of $123.97 million during the quarter, compared to analysts’ expectations of $116.88 million. During the same period in the previous year, the business posted ($0.01) earnings per share. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. As a group, research analysts expect that PAR Technology Corporation will post -0.28 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Royal Bank Of Canada set a $16.00 target price on shares of PAR Technology in a report on Tuesday, June 9th. BTIG Research lowered their price target on shares of PAR Technology from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Needham & Company LLC cut their price objective on shares of PAR Technology from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. JPMorgan Chase & Co. upgraded PAR Technology from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $12.00 to $16.00 in a report on Tuesday, June 9th. Finally, Benchmark decreased their target price on PAR Technology from $42.00 to $33.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Five 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.78.

Institutional Investors Weigh In On PAR Technology

A number of institutional investors have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. grew its stake in shares of PAR Technology by 3.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,916,459 shares of the software maker’s stock valued at $214,650,000 after acquiring an additional 201,782 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of PAR Technology by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 3,304,052 shares of the software maker’s stock worth $119,871,000 after purchasing an additional 12,250 shares during the period. Capital Research Global Investors raised its position in shares of PAR Technology by 17.3% in the third quarter. Capital Research Global Investors now owns 3,237,004 shares of the software maker’s stock valued at $128,121,000 after buying an additional 476,839 shares in the last quarter. Progeny 3 Inc. raised its position in shares of 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 buying an additional 114,500 shares in the last quarter. Finally, Reinhart Partners LLC. boosted its stake in shares of PAR Technology by 45.6% in the fourth quarter. Reinhart Partners LLC. now owns 1,309,860 shares of the software maker’s stock valued at $47,522,000 after buying an additional 410,183 shares during the period.

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.