Gamco Investors INC. ET AL Sells 62,819 Shares of PAR Technology Corporation $PAR

Key Points

• Gamco Investors reduced its PAR Technology stake by 35.2%, selling 62,819 shares and retaining 115,710 shares worth approximately $1.54 million.
• PAR Technology reported quarterly EPS of $0.10, beating estimates of $0.07, while revenue rose 19.4% year over year to $123.97 million. However, the company remained unprofitable, with a negative net margin of 16.04%.
• Analyst sentiment remains moderately positive, with five Buy, two Hold and one Sell rating; the consensus price target is $26.17 compared with the stock’s reported price of $17.16.

Gamco Investors INC. ET AL lowered its holdings in PAR Technology Corporation (NYSE:PAR - Free Report) by 35.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 115,710 shares of the software maker's stock after selling 62,819 shares during the period. Gamco Investors INC. ET AL owned approximately 0.28% of PAR Technology worth $1,542,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Inceptionr LLC increased its position in shares of PAR Technology by 33.1% in the first quarter. Inceptionr LLC now owns 15,501 shares of the software maker's stock worth $207,000 after purchasing an additional 3,853 shares during the last quarter. Bandera Partners LLC bought a new stake in PAR Technology during the first quarter valued at approximately $9,331,000. Sei Investments Co. lifted its position in PAR Technology by 39.8% during the first quarter. Sei Investments Co. now owns 117,400 shares of the software maker's stock valued at $1,565,000 after purchasing an additional 33,408 shares during the last quarter. Hsbc Holdings PLC purchased a new position in PAR Technology in the 1st quarter worth approximately $422,000. Finally, Stephens Investment Management Group LLC grew its stake in PAR Technology by 62.2% in the 1st quarter. Stephens Investment Management Group LLC now owns 458,621 shares of the software maker's stock worth $6,113,000 after buying an additional 175,831 shares in the last quarter.

PAR Technology Price Performance

Shares of PAR Technology stock opened at $17.16 on Wednesday. PAR Technology Corporation has a 52-week low of $11.59 and a 52-week high of $68.96. The stock has a market capitalization of $707.70 million, a price-to-earnings ratio of -9.18 and a beta of 1.32. The company has a fifty day moving average of $15.81 and a 200-day moving average of $18.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.83 and a current ratio of 2.10.

PAR Technology (NYSE:PAR - Get Free Report) last issued its earnings results on Thursday, May 7th. The software maker reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.03. The company had revenue of $123.97 million for the quarter, compared to analysts' expectations of $116.88 million. PAR Technology had a negative net margin of 16.04% and a negative return on equity of 2.57%. The firm's revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.01) EPS. Equities research analysts expect that PAR Technology Corporation will post -0.16 EPS for the current year.

Insider Transactions at PAR Technology

In related news, major shareholder Voss Capital, Lp acquired 594,900 shares of PAR Technology stock in a transaction dated Thursday, May 14th. The shares were purchased at an average cost of $14.59 per share, with a total value of $8,679,591.00. Following the completion of the purchase, the insider owned 4,675,000 shares of the company's stock, valued at $68,208,250. This represents a 14.58% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cathy A. King sold 20,000 shares of the business's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $15.38, for a total value of $307,600.00. Following the completion of the sale, the insider directly owned 122,919 shares of the company's stock, valued at approximately $1,890,494.22. This trade represents 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. Insiders have bought 1,069,900 shares of company stock worth $15,568,965 over the last ninety days. Insiders own 2.30% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PAR shares. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of PAR Technology in a report on Friday, July 10th. Jefferies Financial Group set a $18.00 target price on PAR Technology in a research note on Saturday, May 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 research report on Wednesday, June 24th. The Goldman Sachs Group lifted their price target on PAR Technology from $18.00 to $20.50 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. Finally, Royal Bank Of Canada set a $16.00 price objective on PAR Technology in a report on Tuesday, June 9th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $26.17.

PAR Technology 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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