Reinhart Partners LLC. Has $47.52 Million Position in PAR Technology Corporation $PAR

Key Points

• Reinhart Partners LLC boosted its PAR Technology stake by 45.6% in the fourth quarter, ending with 1.31 million shares worth about $47.5 million and representing 3.23% of the company.
• PAR Technology reported stronger-than-expected quarterly results, with EPS of $0.10 versus estimates of $0.07 and revenue of $123.97 million, up 19.4% year over year.
• Wall Street sentiment remains mixed: analysts have a consensus rating of Hold with an average price target of $28, while shares recently traded around $15.27 after a wide 52-week range.

Reinhart Partners LLC. raised its stake in PAR Technology Corporation (NYSE:PAR - Free Report) by 45.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,309,860 shares of the software maker's stock after purchasing an additional 410,183 shares during the period. Reinhart Partners LLC. owned 3.23% of PAR Technology worth $47,522,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. One Capital Management LLC increased its holdings in shares of PAR Technology by 42.0% in the fourth quarter. One Capital Management LLC now owns 30,369 shares of the software maker's stock valued at $1,102,000 after purchasing an additional 8,977 shares during the last quarter. Pring Turner Capital Group Inc. increased its holdings in shares of PAR Technology by 27.2% in the fourth quarter. Pring Turner Capital Group Inc. now owns 6,916 shares of the software maker's stock valued at $251,000 after purchasing an additional 1,480 shares during the last quarter. Rock Creek Group LP increased its holdings in shares of PAR Technology by 316.7% in the fourth quarter. Rock Creek Group LP now owns 250,000 shares of the software maker's stock valued at $9,070,000 after purchasing an additional 190,000 shares during the last quarter. Future Fund LLC increased its holdings in shares of PAR Technology by 42.0% in the fourth quarter. Future Fund LLC now owns 30,369 shares of the software maker's stock valued at $1,102,000 after purchasing an additional 8,977 shares during the last quarter. Finally, SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of PAR Technology in the fourth quarter valued at $405,000.

Wall Street Analyst Weigh In

PAR has been the topic of several research reports. The Goldman Sachs Group decreased their price objective on shares of PAR Technology from $40.00 to $18.00 and set a "neutral" rating on the stock in a report on Tuesday, March 3rd. Needham & Company LLC decreased their price objective on shares of PAR Technology from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday, April 9th. JPMorgan Chase & Co. started coverage on shares of PAR Technology in a research note on Friday, May 29th. They issued an "underweight" rating and a $12.00 price target on the stock. William Blair restated an "outperform" rating on shares of PAR Technology in a research note on Friday, March 13th. Finally, Jefferies Financial Group set a $18.00 price target on shares of PAR Technology in a research note on Saturday, May 9th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $28.00.

PAR Technology Price Performance

PAR Technology stock opened at $15.27 on Wednesday. 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 Corporation has a 52 week low of $11.59 and a 52 week high of $72.15. The stock has a market capitalization of $630.05 million, a P/E ratio of -8.17 and a beta of 1.35. The stock has a fifty day moving average of $13.99 and a 200-day moving average of $24.00.

PAR Technology (NYSE:PAR - Get Free Report) last posted 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 firm had revenue of $123.97 million during 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 business's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) earnings per share. On average, sell-side analysts expect that PAR Technology Corporation will post -0.3 earnings per share for the current fiscal year.

Insider Activity at PAR Technology

In related news, major shareholder Voss Capital, Lp bought 594,900 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was purchased at an average price of $14.59 per share, with a total value of $8,679,591.00. Following the completion of the acquisition, the insider owned 4,675,000 shares of the company's stock, valued at $68,208,250. The trade was a 14.58% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.30% of the company's stock.

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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