Hsbc Holdings PLC Invests $1.31 Million in PAR Technology Corporation $PAR

Key Points

• HSBC acquired a new 74,646-share stake in PAR Technology worth approximately $1.31 million, representing about 0.18% of the company. Other institutional investors also increased or initiated positions.
• Insider buying has been substantial, with insiders purchasing 361,518 shares worth approximately $5.26 million over the past 90 days. Major shareholder Voss Capital and Director Narinder Singh were among the buyers.
• PAR reported quarterly EPS of $0.18, beating estimates of $0.12, while revenue rose 18.7% year over year to $133.41 million. Analysts maintain a “Moderate Buy” consensus, with an average price target of $24.61 versus the stock’s opening price of $18.81.

Hsbc Holdings PLC acquired a new stake 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 fund acquired 74,646 shares of the software maker's stock, valued at approximately $1,308,000. Hsbc Holdings PLC owned approximately 0.18% of PAR Technology at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State of Wyoming acquired a new position in PAR Technology during the 4th quarter worth about $34,000. Kestra Advisory Services LLC purchased a new position in PAR Technology during the 4th quarter valued at about $35,000. Versant Capital Management Inc grew its position in 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 acquired a new position in PAR Technology in the 4th quarter valued at about $113,000. Finally, Corsair Capital Management L.P. purchased a new stake in PAR Technology during the first quarter worth about $133,000.

Insider Buying and Selling

In other news, major shareholder Voss Capital, Lp bought 156,249 shares of the business's stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average cost of $14.85 per share, for a total transaction of $2,320,297.65. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Narinder Singh bought 11,518 shares of PAR Technology stock in a transaction that occurred on 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 acquisition, the director owned 38,527 shares of the company's stock, valued at $668,828.72. This represents a 42.65% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 361,518 shares of company stock worth $5,261,827 over the last 90 days. Insiders own 2.30% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PAR shares. BTIG Research reduced their price target on shares of PAR Technology from $45.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. UBS Group set a $16.00 price objective on shares of PAR Technology in a report on Tuesday, June 9th. The Goldman Sachs Group upped their target price on shares of PAR Technology from $18.00 to $20.50 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. Royal Bank Of Canada set a $16.00 target price on shares of PAR Technology in a report on Tuesday, June 9th. Finally, Jefferies Financial Group set a $18.00 target price on shares of PAR Technology in a report on Saturday, May 9th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $24.61.

PAR Technology Price Performance

Shares of NYSE PAR opened at $18.81 on Tuesday. The stock's 50-day moving average is $17.57 and its two-hundred day moving average is $16.17. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.21 and a quick ratio of 1.89. PAR Technology Corporation has a 1-year low of $11.59 and a 1-year high of $52.98. The company has a market cap of $777.98 million, a price-to-earnings ratio of -10.69 and a beta of 1.33.

PAR Technology (NYSE:PAR - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $133.41 million for the quarter, compared to analyst estimates of $124.66 million. PAR Technology had a negative return on equity of 1.62% and a negative net margin of 14.52%.PAR Technology's revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.03 EPS. Analysts forecast that PAR Technology Corporation will post -0.13 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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