Walleye Partners LLC Takes Position in PAR Technology Corporation $PAR

Key Points

• Walleye Partners LLC opened a new position in PAR Technology of 74,116 shares worth about $2,689,000 in Q4, making PAR 3.0% of its portfolio and its 9th largest holding (Walleye owned ~0.18% of PAR at quarter end).
• Analysts have trimmed price targets but the street consensus remains a "Moderate Buy" with an average target of $33.20, far above the current share price of $14.10.
• PAR beat the quarter (EPS $0.06 vs. ($0.10) est.; revenue $120.1M, +14.4% YoY) but still shows negative net margin and ROE, and insiders — including the CEO — recently sold sizable stakes even as insiders were net buyers over the prior three months.

Walleye Partners LLC purchased a new position in PAR Technology Corporation (NYSE:PAR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 74,116 shares of the software maker's stock, valued at approximately $2,689,000. PAR Technology comprises 3.0% of Walleye Partners LLC's investment portfolio, making the stock its 9th largest position. Walleye Partners LLC owned about 0.18% of PAR Technology at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PAR. Royal Bank of Canada increased its position in shares of PAR Technology by 8.0% during the first quarter. Royal Bank of Canada now owns 20,446 shares of the software maker's stock worth $1,255,000 after acquiring an additional 1,515 shares during the period. AQR Capital Management LLC purchased a new stake in shares of PAR Technology in the first quarter valued at approximately $309,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in PAR Technology by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,012 shares of the software maker's stock worth $1,228,000 after purchasing an additional 874 shares in the last quarter. Jones Financial Companies Lllp grew its stake in PAR Technology by 186,466.7% in the first quarter. Jones Financial Companies Lllp now owns 5,597 shares of the software maker's stock worth $343,000 after purchasing an additional 5,594 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in PAR Technology by 28.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 231,494 shares of the software maker's stock worth $14,200,000 after purchasing an additional 51,316 shares during the period.

Analyst Ratings Changes

Several brokerages have weighed in on PAR. Needham & Company LLC lowered their target price on PAR Technology from $30.00 to $25.00 and set a "buy" rating for the company in a report on Thursday, April 9th. BTIG Research cut their price target on PAR Technology from $60.00 to $45.00 and set a "buy" rating on the stock in a research note on Friday, February 27th. Benchmark decreased their price objective on PAR Technology from $42.00 to $33.00 and set a "buy" rating for the company in a report on Monday, March 16th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of PAR Technology in a research note on Friday, March 27th. Finally, Stephens cut their target price on shares of PAR Technology from $60.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, February 27th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $33.20.

PAR Technology Stock Down 3.3%

Shares of NYSE PAR opened at $14.10 on Wednesday. PAR Technology Corporation has a 12-month low of $11.59 and a 12-month high of $72.15. The stock's fifty day simple moving average is $16.17 and its two-hundred day simple moving average is $28.12. The stock has a market capitalization of $581.36 million, a PE ratio of -6.78 and a beta of 1.48. The company has a current ratio of 1.66, a quick ratio of 1.46 and a debt-to-equity ratio of 0.45.

PAR Technology (NYSE:PAR - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The software maker reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.16. The firm had revenue of $120.10 million during the quarter, compared to analyst estimates of $116.39 million. PAR Technology had a negative return on equity of 2.32% and a negative net margin of 18.54%.PAR Technology's revenue was up 14.4% on a year-over-year basis. As a group, analysts expect that PAR Technology Corporation will post -0.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Cathy A. King sold 6,109 shares of PAR Technology stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $17.49, for a total value of $106,846.41. Following the transaction, the insider owned 58,143 shares of the company's stock, valued at $1,016,921.07. The trade was a 9.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Savneet Singh sold 57,605 shares of the business'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 transaction of $1,007,511.45. Following the transaction, the chief executive officer owned 252,537 shares of the company's stock, valued at approximately $4,416,872.13. This trade represents a 18.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders purchased 435,100 shares of company stock valued at $11,115,692 and sold 90,689 shares valued at $1,600,226. Company insiders own 3.70% 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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