413,200 Shares in PAR Technology Corporation $PAR Bought by Renaissance Technologies LLC

Key Points

• Renaissance Technologies acquired 413,200 PAR Technology shares worth approximately $5.5 million, giving it about a 1% stake. Other institutions, including T. Rowe Price, Vanguard and Reinhart Partners, also increased their holdings.
• Analysts maintain a “Moderate Buy” consensus on PAR, with an average price target of $26.17. Five analysts rate the stock Buy, while two rate it Hold and one rates it Sell.
• PAR reported quarterly revenue of $123.97 million, up 19.4% year over year, and earnings per share of $0.10, beating estimates of $0.07. Despite the revenue growth, the company posted a negative net margin and analysts expect a full-year loss.

Renaissance Technologies LLC bought a new stake in shares of PAR Technology Corporation (NYSE:PAR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 413,200 shares of the software maker's stock, valued at approximately $5,508,000. Renaissance Technologies LLC owned about 1.00% of PAR Technology as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its holdings in PAR Technology by 3.5% during the 4th 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 during the period. Vanguard Group Inc. boosted its holdings in shares of PAR Technology by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 3,304,052 shares of the software maker's stock worth $119,871,000 after buying an additional 12,250 shares during the period. Progeny 3 Inc. boosted its holdings in shares of PAR Technology by 18.7% in the fourth quarter. Progeny 3 Inc. now owns 2,056,308 shares of the software maker's stock worth $74,603,000 after buying an additional 323,990 shares during the period. Reinhart Partners LLC. increased its position 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 worth $47,522,000 after acquiring an additional 410,183 shares in the last quarter. Finally, Greenstone Partners & Co. LLC purchased a new position in shares of PAR Technology in the fourth quarter worth approximately $36,981,000.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PAR. Jefferies Financial Group set a $18.00 price target on shares of PAR Technology in a research report on Saturday, May 9th. The Goldman Sachs Group boosted their target price on shares of PAR Technology from $18.00 to $20.50 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Needham & Company LLC decreased their target price on PAR Technology from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Thursday, April 9th. Royal Bank Of Canada set a $16.00 target price on PAR Technology in a research report on Tuesday, June 9th. Finally, UBS Group set a $16.00 price target on PAR Technology in a research report on Tuesday, June 9th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.17.

Insider Activity at PAR Technology

In other news, major shareholder Voss Capital, Lp acquired 156,249 shares of the company's stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average price of $14.85 per share, for a total transaction of $2,320,297.65. Following the completion of the acquisition, the insider owned 5,125,000 shares of the company's stock, valued at approximately $76,106,250. This represents a 3.14% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Cathy A. King sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $15.38, for a total transaction of $307,600.00. Following the transaction, the insider directly owned 122,919 shares in the company, valued at approximately $1,890,494.22. The trade was a 13.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders purchased 1,069,900 shares of company stock valued at $15,568,965. 2.30% of the stock is currently owned by company insiders.

PAR Technology Stock Up 0.6%

PAR Technology stock opened at $17.54 on Thursday. PAR Technology Corporation has a twelve month low of $11.59 and a twelve month high of $60.42. 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 firm has a market cap of $723.36 million, a PE ratio of -9.38 and a beta of 1.33. The firm's 50 day moving average price is $16.12 and its two-hundred day moving average price is $17.39.

PAR Technology (NYSE:PAR - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The software maker reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates 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%. PAR Technology's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.01) earnings per share. On average, research analysts predict that PAR Technology Corporation will post -0.16 EPS for the current fiscal 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.

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