Greenhaven Road Investment Management L.P. Sells 86,315 Shares of PAR Technology Corporation $PAR

Key Points

• Greenhaven Road Investment Management cut its PAR Technology stake by 8.9% in the fourth quarter, selling 86,315 shares. The fund still held 886,883 shares, making PAR its second-largest holding and about 5.4% of its portfolio.
• PAR Technology beat quarterly expectations, reporting EPS of $0.10 versus the $0.07 consensus and revenue of $123.97 million versus $116.88 million expected. Revenue rose 19.4% year over year, though the company remains unprofitable on a net margin and ROE basis.
• Insider and analyst activity was mixed: Voss Capital bought 125,000 shares in mid-May, while insider Cathy A. King sold 20,000 shares in June under a 10b5-1 plan. Analysts currently rate the stock a “Moderate Buy,” with a consensus price target of $25.78.

Greenhaven Road Investment Management L.P. trimmed its holdings in shares of PAR Technology Corporation (NYSE:PAR - Free Report) by 8.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 886,883 shares of the software maker's stock after selling 86,315 shares during the quarter. PAR Technology comprises 5.4% of Greenhaven Road Investment Management L.P.'s portfolio, making the stock its 2nd biggest holding. Greenhaven Road Investment Management L.P. owned 2.18% of PAR Technology worth $32,176,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. ProShare Advisors LLC increased its position in PAR Technology by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 7,330 shares of the software maker's stock worth $266,000 after buying an additional 471 shares during the last quarter. SkyView Investment Advisors LLC increased its position in PAR Technology by 3.3% during the second quarter. SkyView Investment Advisors LLC now owns 16,915 shares of the software maker's stock worth $1,153,000 after buying an additional 548 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in PAR Technology by 6.8% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 9,835 shares of the software maker's stock worth $357,000 after buying an additional 622 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in PAR Technology during the third quarter worth $26,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in PAR Technology during the third quarter worth $28,000.

PAR Technology Stock Up 2.1%

PAR stock opened at $14.92 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.10 and a quick ratio of 1.83. PAR Technology Corporation has a 52-week low of $11.59 and a 52-week high of $72.15. The company has a 50-day moving average of $14.13 and a two-hundred day moving average of $22.70. The stock has a market capitalization of $615.57 million, a price-to-earnings ratio of -7.98 and a beta of 1.35.

PAR Technology (NYSE:PAR - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The software maker reported $0.10 earnings per share (EPS) for the quarter, beating 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 company had revenue of $123.97 million during the quarter, compared to analysts' expectations of $116.88 million. During the same period in the prior year, the company earned ($0.01) earnings per share. The business's quarterly revenue was up 19.4% compared to the same quarter last year. As a group, equities research analysts anticipate that PAR Technology Corporation will post -0.28 EPS for the current year.

Insider Activity

In related news, major shareholder Voss Capital, Lp bought 125,000 shares of PAR Technology stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average price of $14.62 per share, for a total transaction of $1,827,500.00. Following the completion of the purchase, the insider owned 4,775,000 shares in the company, valued at approximately $69,810,500. This represents a 2.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Cathy A. King sold 20,000 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $15.38, for a total transaction of $307,600.00. Following the completion of the sale, the insider owned 122,919 shares of the company's stock, 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. 2.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PAR has been the topic of several analyst reports. UBS Group set a $16.00 target price on shares of PAR Technology in a research report on Tuesday. The Goldman Sachs Group decreased their price target on shares of PAR Technology from $40.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, March 3rd. Royal Bank Of Canada set a $16.00 price target on shares of PAR Technology in a report on Tuesday. William Blair restated an "outperform" rating on shares of PAR Technology in a report on Friday, March 13th. Finally, JPMorgan Chase & Co. upgraded shares of PAR Technology from an "underweight" rating to a "neutral" rating and upped their price target for the company from $12.00 to $16.00 in a report on Tuesday. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, PAR Technology currently has an average rating of "Moderate Buy" and a consensus price target of $25.78.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.