ABS Investment Management LLC Acquires New Holdings in PAR Technology Corporation $PAR

ABS Investment Management LLC acquired a new stake in PAR Technology Corporation (NYSE:PAR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 150,000 shares of the software maker's stock, valued at approximately $2,613,000. PAR Technology comprises about 0.0% of ABS Investment Management LLC's investment portfolio, making the stock its 13th largest holding. ABS Investment Management LLC owned about 0.36% of PAR Technology at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State of Wyoming bought a new position in shares of PAR Technology during the fourth quarter valued at $34,000. Kestra Advisory Services LLC bought a new position in shares of PAR Technology during the fourth quarter valued at $35,000. Versant Capital Management Inc raised its stake in shares of PAR Technology by 325.5% during the second quarter. Versant Capital Management Inc now owns 5,110 shares of the software maker's stock valued at $89,000 after acquiring an additional 3,909 shares during the last quarter. MidFirst Bank bought a new position in shares of PAR Technology during the fourth quarter valued at $113,000. Finally, Corsair Capital Management L.P. bought a new position in shares of PAR Technology during the first quarter valued at $133,000.

Insider Buying and Selling

In related news, Director Narinder Singh acquired 11,518 shares of the stock in a transaction on Wednesday, August 12th. The shares were acquired at an average price of $17.36 per share, with a total value of $199,952.48. Following the completion of the transaction, the director owned 38,527 shares in the company, valued at approximately $668,828.72. The trade was a 42.65% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Voss Capital, Lp acquired 193,751 shares of the stock in a transaction on Thursday, June 11th. The stock was bought at an average cost of $14.15 per share, for a total transaction of $2,741,576.65. Following the transaction, the insider owned 4,968,751 shares of the company's stock, valued at approximately $70,307,826.65. This trade represents a 4.06% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 361,518 shares of company stock worth $5,261,827. 2.30% of the stock is owned by insiders.

PAR Technology Trading Up 0.5%

PAR opened at $19.32 on Friday. PAR Technology Corporation has a 1-year low of $11.59 and a 1-year high of $52.98. The company has a current ratio of 2.21, a quick ratio of 1.89 and a debt-to-equity ratio of 0.52. The company has a market cap of $799.08 million, a P/E ratio of -10.98 and a beta of 1.33. The company has a fifty day moving average price of $17.50 and a two-hundred day moving average price of $16.25.

PAR Technology (NYSE:PAR - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The software maker reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.06. The firm had revenue of $133.41 million during the quarter, compared to analysts' expectations of $124.66 million. PAR Technology had a negative net margin of 14.52% and a negative return on equity of 1.62%. The business's revenue was up 18.7% on a year-over-year basis. During the same period last year, the company earned $0.03 earnings per share. Analysts predict that PAR Technology Corporation will post -0.13 EPS for the current fiscal year.

Analyst Ratings Changes

PAR has been the subject of several analyst reports. BTIG Research dropped their price target on shares of PAR Technology from $45.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, August 7th. The Goldman Sachs Group raised their price target 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. JPMorgan Chase & Co. raised their price target on shares of PAR Technology from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. UBS Group set a $16.00 target price on shares of PAR Technology in a research note on Tuesday, June 9th. Finally, Weiss Ratings raised shares of PAR Technology from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, PAR Technology has a consensus rating of "Moderate Buy" and an average price target of $24.61.

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.

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