PAR Technology Corporation $PAR Shares Bought by Gabelli Funds LLC

Key Points

• Gabelli Funds increased its PAR Technology stake by 88.7% in the first quarter, purchasing 84,000 additional shares and ending the period with 178,700 shares worth approximately $2.38 million.
• Insider activity was mixed: Cathy A. King sold 20,000 shares under a Rule 10b5-1 plan, while major shareholder Voss Capital bought 156,249 shares. Insiders collectively purchased more than 1.06 million shares worth about $15.6 million over the past 90 days.
• PAR Technology reported quarterly revenue of $123.97 million, up 19.4% year over year, and EPS of $0.10, beating analyst estimates. Analysts assign the stock a consensus “Moderate Buy” rating with an average price target of $26.17, despite a recent “sell” rating from Weiss Ratings.

Gabelli Funds LLC grew its stake in shares of PAR Technology Corporation (NYSE:PAR - Free Report) by 88.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 178,700 shares of the software maker's stock after purchasing an additional 84,000 shares during the period. Gabelli Funds LLC owned approximately 0.43% of PAR Technology worth $2,382,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. State of Wyoming acquired a new stake in shares of PAR Technology in the fourth quarter valued at about $34,000. Kestra Advisory Services LLC purchased a new position in PAR Technology in the fourth quarter valued at about $35,000. MidFirst Bank purchased a new position in PAR Technology in the fourth quarter valued at about $113,000. AQR Capital Management LLC acquired a new stake in shares of PAR Technology during the 4th quarter valued at approximately $201,000. Finally, Inceptionr LLC boosted its stake in shares of PAR Technology by 33.1% during the 1st quarter. Inceptionr LLC now owns 15,501 shares of the software maker's stock worth $207,000 after acquiring an additional 3,853 shares in the last quarter.

Insiders Place Their Bets

In related news, 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 transaction of $307,600.00. Following the completion of the sale, the insider owned 122,919 shares in the company, valued at approximately $1,890,494.22. This trade represents a 13.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Voss Capital, Lp bought 156,249 shares of PAR Technology stock in a transaction on Friday, June 12th. The stock was purchased at an average price of $14.85 per share, for a total transaction of $2,320,297.65. Following the completion of the acquisition, the insider owned 5,125,000 shares in the company, valued at $76,106,250. This represents a 3.14% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 1,069,900 shares of company stock worth $15,568,965. Corporate insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

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

PAR Technology Trading Up 1.4%

Shares of PAR Technology stock opened at $17.38 on Thursday. 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 1 year low of $11.59 and a 1 year high of $64.63. The company has a market capitalization of $717.09 million, a P/E ratio of -9.30 and a beta of 1.32. The business has a 50 day moving average price of $15.86 and a 200 day moving average price of $18.13.

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