SG Americas Securities LLC Cuts Stock Holdings in PAR Technology Corporation $PAR

Key Points

• SG Americas Securities LLC cut its PAR Technology stake by 94.9% in the first quarter, leaving it with 38,449 shares valued at about $513,000.
• PAR Technology reported better-than-expected first-quarter earnings, with EPS of $0.10 versus the $0.07 estimate and revenue of $123.97 million, up 19.4% year over year.
• Insider activity was mixed: Cathy A. King sold 20,000 shares, while major shareholder Voss Capital bought 594,900 shares; analysts currently have a consensus rating of Moderate Buy with a $25.89 target price.

SG Americas Securities LLC decreased its position in PAR Technology Corporation (NYSE:PAR - Free Report) by 94.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,449 shares of the software maker's stock after selling 713,312 shares during the quarter. SG Americas Securities LLC owned approximately 0.09% of PAR Technology worth $513,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its position in PAR Technology by 3.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,916,459 shares of the software maker's stock worth $214,650,000 after purchasing an additional 201,782 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of PAR Technology by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 3,304,052 shares of the software maker's stock worth $119,871,000 after buying an additional 12,250 shares in the last quarter. Capital Research Global Investors lifted its position in shares of PAR Technology by 17.3% during the 3rd quarter. Capital Research Global Investors now owns 3,237,004 shares of the software maker's stock worth $128,121,000 after buying an additional 476,839 shares in the last quarter. Progeny 3 Inc. boosted its stake in shares of PAR Technology by 18.7% in the 4th quarter. Progeny 3 Inc. now owns 2,056,308 shares of the software maker's stock worth $74,603,000 after buying an additional 323,990 shares during the last quarter. Finally, Reinhart Partners LLC. boosted its stake in shares of PAR Technology by 45.6% in the 4th quarter. Reinhart Partners LLC. now owns 1,309,860 shares of the software maker's stock worth $47,522,000 after buying an additional 410,183 shares during the last quarter.

Insider Buying and Selling at PAR Technology

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 value of $307,600.00. Following the completion of the sale, the insider 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 sale was disclosed in a legal filing 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 acquired 594,900 shares of the stock in a transaction that occurred 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 completion of the purchase, the insider directly owned 4,675,000 shares in the company, valued at $68,208,250. This trade represents a 14.58% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 1,069,900 shares of company stock valued at $15,568,965 in the last quarter. 2.30% of the stock is owned by corporate insiders.

PAR Technology Price Performance

PAR Technology stock opened at $17.10 on Thursday. PAR Technology Corporation has a 12 month low of $11.59 and a 12 month high of $72.15. The company has a current ratio of 2.10, a quick ratio of 1.83 and a debt-to-equity ratio of 0.51. The business's 50 day simple moving average is $15.25 and its 200 day simple moving average is $20.27. The company has a market cap of $705.54 million, a price-to-earnings ratio of -9.15 and a beta of 1.32.

PAR Technology (NYSE:PAR - Get Free Report) last released its earnings results on Thursday, May 7th. The software maker reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.03. The business had revenue of $123.97 million during the quarter, compared to the consensus estimate of $116.88 million. PAR Technology had a negative return on equity of 2.57% and a negative net margin of 16.04%.The business's revenue for the quarter was up 19.4% on a year-over-year basis. During the same period last year, the business posted ($0.01) earnings per share. Sell-side analysts forecast that PAR Technology Corporation will post -0.16 EPS for the current year.

Analyst Upgrades and Downgrades

PAR has been the subject of a number of research analyst reports. Needham & Company LLC decreased their price target on PAR Technology from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Thursday, April 9th. Benchmark cut their price objective on PAR Technology from $42.00 to $33.00 and set a "buy" rating on the stock in a research report on Monday, March 16th. Royal Bank Of Canada set a $16.00 price objective on PAR Technology in a research note on Tuesday, June 9th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of PAR Technology in a research report on Friday, March 27th. Finally, Jefferies Financial Group set a $18.00 target price on PAR Technology in a research note on Saturday, May 9th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $25.89.

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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