Rock Creek Group LP Buys 190,000 Shares of PAR Technology Corporation $PAR

Key Points

• Rock Creek Group LP boosted its PAR Technology stake by 316.7% in the fourth quarter, buying 190,000 additional shares and bringing its total to 250,000 shares worth about $9.07 million.
• Insider activity was mixed: major shareholder Voss Capital bought 594,900 shares in May, while CFO Bryan A. Menar sold 6,588 shares in March. Overall, insiders sold 90,689 shares over the last three months.
• PAR Technology reported stronger-than-expected quarterly results, with EPS of $0.10 versus the $0.07 estimate and revenue up 19.4% year over year to $123.97 million. Despite that, analysts currently rate the stock a consensus Hold with an average price target of $28.00.

Rock Creek Group LP increased its stake in PAR Technology Corporation (NYSE:PAR - Free Report) by 316.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 250,000 shares of the software maker's stock after acquiring an additional 190,000 shares during the period. PAR Technology comprises about 1.0% of Rock Creek Group LP's holdings, making the stock its 19th largest holding. Rock Creek Group LP owned approximately 0.62% of PAR Technology worth $9,070,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Future Fund LLC lifted its stake in shares of PAR Technology by 42.0% in the 4th quarter. Future Fund LLC now owns 30,369 shares of the software maker's stock valued at $1,102,000 after acquiring an additional 8,977 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. purchased a new position in PAR Technology during the 4th quarter valued at about $405,000. Redmond Asset Management LLC increased its holdings in PAR Technology by 6.2% during the 4th quarter. Redmond Asset Management LLC now owns 84,202 shares of the software maker's stock valued at $3,055,000 after purchasing an additional 4,946 shares during the period. Handelsbanken Fonder AB purchased a new position in PAR Technology during the 4th quarter valued at about $501,000. Finally, ProShare Advisors LLC increased its holdings in PAR Technology by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 7,330 shares of the software maker's stock valued at $266,000 after purchasing an additional 471 shares during the period.

Insider Activity

In other news, major shareholder Voss Capital, Lp bought 594,900 shares of PAR Technology stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of $14.59 per share, for a total transaction of $8,679,591.00. Following the acquisition, the insider owned 4,675,000 shares of the company's stock, valued at approximately $68,208,250. The trade was a 14.58% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Bryan A. Menar sold 6,588 shares of the company's stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $17.49, for a total value of $115,224.12. Following the transaction, the chief financial officer owned 64,893 shares in the company, valued at $1,134,978.57. This trade represents a 9.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 90,689 shares of company stock worth $1,600,226. Company insiders own 2.30% of the company's stock.

PAR Technology Stock Up 0.6%

PAR stock opened at $15.47 on Friday. PAR Technology Corporation has a fifty-two week low of $11.59 and a fifty-two week high of $72.15. The business's 50 day moving average price is $13.95 and its two-hundred day moving average price is $24.26. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.83 and a current ratio of 2.10. The company has a market capitalization of $638.01 million, a price-to-earnings ratio of -8.27 and a beta of 1.32.

PAR Technology (NYSE:PAR - Get Free Report) last posted its earnings results on Thursday, May 7th. The software maker reported $0.10 earnings per share for the quarter, topping 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 the consensus estimate of $116.88 million. During the same quarter in the prior year, the business earned ($0.01) EPS. The business's revenue for the quarter was up 19.4% on a year-over-year basis. As a group, analysts forecast that PAR Technology Corporation will post -0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PAR. Needham & Company LLC reduced their price target on PAR Technology from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday, April 9th. Weiss Ratings restated a "sell (d-)" rating on shares of PAR Technology in a report on Friday, March 27th. The Goldman Sachs Group reduced their price target on PAR Technology from $40.00 to $18.00 and set a "neutral" rating on the stock in a report on Tuesday, March 3rd. Jefferies Financial Group set a $18.00 price target on PAR Technology in a report on Saturday, May 9th. Finally, BTIG Research reduced their price target on PAR Technology from $60.00 to $45.00 and set a "buy" rating on the stock in a report on Friday, February 27th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $28.00.

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.

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