PAR Technology Corporation $PAR Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon reduced its PAR Technology stake by 62.6% in the first quarter, selling 202,535 shares and retaining 120,988 shares worth approximately $1.61 million.
• Analysts maintain a generally positive view, with five Buy ratings, two Holds and one Sell. PAR has a “Moderate Buy” consensus rating and an average price target of $24.61.
• Insider activity was mixed: Voss Capital purchased 594,900 shares, while insider Cathy A. King sold 20,000 shares. Overall, insiders bought 1.07 million shares worth about $15.6 million over the past 90 days.

Bank of New York Mellon Corp cut its holdings in shares of PAR Technology Corporation (NYSE:PAR - Free Report) by 62.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 120,988 shares of the software maker's stock after selling 202,535 shares during the quarter. Bank of New York Mellon Corp owned about 0.29% of PAR Technology worth $1,613,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of PAR. State of Wyoming acquired a new position in shares of PAR Technology in the 4th quarter valued at $34,000. Kestra Advisory Services LLC acquired a new stake in shares of PAR Technology during the 4th quarter worth $35,000. MidFirst Bank purchased a new position in shares of PAR Technology in the 4th quarter worth $113,000. AQR Capital Management LLC purchased a new position in shares of PAR Technology in the 4th quarter worth $201,000. Finally, Tower Research Capital LLC TRC boosted its holdings in PAR Technology by 278.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,115 shares of the software maker's stock valued at $216,000 after acquiring an additional 2,291 shares during the last quarter.

Analysts Set New Price Targets

A number of research firms have issued reports on PAR. UBS Group set a $16.00 price target on PAR Technology in a research report on Tuesday, June 9th. The Goldman Sachs Group lifted their price objective on PAR Technology from $18.00 to $20.50 and gave the company a "neutral" rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. boosted their target price on PAR Technology from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. Weiss Ratings reissued a "sell (e+)" rating on shares of PAR Technology in a research report on Friday, July 10th. Finally, Jefferies Financial Group set a $18.00 price target on shares of PAR Technology in a report on Saturday, May 9th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $24.61.

Insider Buying and Selling at PAR Technology

In related news, insider Cathy A. King sold 20,000 shares of the firm's stock in a transaction on 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Voss Capital, Lp acquired 594,900 shares of the business's stock in a transaction on Thursday, May 14th. The stock was purchased at an average price of $14.59 per share, for a total transaction of $8,679,591.00. Following the acquisition, the insider directly owned 4,675,000 shares in the company, valued at $68,208,250. This represents a 14.58% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 1,069,900 shares of company stock valued at $15,568,965 over the last 90 days. Insiders own 2.30% of the company's stock.

PAR Technology Stock Down 4.1%

Shares of NYSE:PAR opened at $17.45 on Wednesday. The company has a market capitalization of $721.57 million, a price-to-earnings ratio of -9.91 and a beta of 1.33. The company has a 50 day moving average of $16.28 and a two-hundred day moving average of $16.88. PAR Technology Corporation has a 52-week low of $11.59 and a 52-week high of $54.62. The company has a quick ratio of 1.83, a current ratio of 2.10 and a debt-to-equity ratio of 0.51.

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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