BlackRock Inc. Buys Shares of 4,050,665 PAR Technology Corporation $PAR

BlackRock Inc. purchased a new position in PAR Technology Corporation (NYSE:PAR - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,050,665 shares of the software maker's stock, valued at approximately $70,563,000. BlackRock Inc. owned 9.82% of PAR Technology at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PAR. State of Wyoming bought a new position in shares of PAR Technology in the fourth quarter worth $34,000. Kestra Advisory Services LLC bought a new position in PAR Technology in the 4th quarter worth about $35,000. Versant Capital Management Inc raised its holdings in shares of PAR Technology by 325.5% in the 2nd 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 in the last quarter. MidFirst Bank purchased a new stake in shares of PAR Technology in the 4th quarter valued at about $113,000. Finally, Corsair Capital Management L.P. bought a new stake in shares of PAR Technology during the 1st quarter valued at about $133,000.

PAR Technology Price Performance

Shares of PAR Technology stock opened at $19.32 on Monday. The company's fifty day simple moving average is $17.50 and its two-hundred day simple moving average is $16.20. PAR Technology Corporation has a 12-month low of $11.59 and a 12-month high of $52.98. The firm has a market cap of $799.08 million, a PE ratio of -10.98 and a beta of 1.33. The company has a quick ratio of 1.89, a current ratio of 2.21 and a debt-to-equity ratio of 0.52.

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 for the quarter, topping analysts' consensus estimates of $0.12 by $0.06. PAR Technology had a negative return on equity of 1.62% and a negative net margin of 14.52%.The firm had revenue of $133.41 million for the quarter, compared to analyst estimates of $124.66 million. During the same period last year, the company earned $0.03 EPS. The business's quarterly revenue was up 18.7% compared to the same quarter last year. As a group, equities analysts expect that PAR Technology Corporation will post -0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PAR. Jefferies Financial Group set a $18.00 target price on shares of PAR Technology in a research report on Saturday, May 9th. JPMorgan Chase & Co. upped their price target on shares of PAR Technology from $17.00 to $18.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. BTIG Research reduced their price objective on PAR Technology from $45.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, August 7th. Royal Bank Of Canada set a $16.00 price objective on PAR Technology in a report on Tuesday, June 9th. Finally, UBS Group set a $16.00 target price on PAR Technology in a research note on Tuesday, June 9th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $24.61.

Insider Buying and Selling

In related news, Director Narinder Singh purchased 11,518 shares of PAR Technology stock in a transaction dated Wednesday, August 12th. The stock was purchased at an average cost of $17.36 per share, for a total transaction of $199,952.48. Following the completion of the acquisition, the director directly owned 38,527 shares of the company's stock, valued at $668,828.72. The trade was a 42.65% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Cathy A. King sold 20,000 shares of PAR Technology stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $15.38, for a total value of $307,600.00. Following the completion of the transaction, the insider directly owned 122,919 shares of the company's stock, valued at approximately $1,890,494.22. This represents a 13.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders acquired a total of 361,518 shares of company stock worth $5,261,827 in the last three months. 2.30% of the stock is owned by corporate insiders.

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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