PAR Technology (NYSE:PAR) Major Shareholder Buys $2,320,297.65 in Stock

Key Points

• Voss Capital, Lp, a major shareholder in PAR Technology, bought 156,249 shares for about $2.32 million at an average price of $14.85 per share. After the purchase, it owned 5,125,000 shares, increasing its stake by 3.14%.
• PAR Technology shares were trading around $14.64, near their 50-day moving average of $14.15 and well below the 200-day moving average of $22.49. The stock has ranged from a 52-week low of $11.59 to a high of $72.15.
• The company recently reported better-than-expected quarterly results, with EPS of $0.10 versus the $0.07 estimate and revenue of $123.97 million, up 19.4% year over year. Analysts currently have a Moderate Buy consensus rating with an average price target of $25.78.

PAR Technology Corporation (NYSE:PAR - Get Free Report) major shareholder Voss Capital, Lp purchased 156,249 shares of the business's stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average cost of $14.85 per share, with a total value of $2,320,297.65. Following the completion of the acquisition, the insider directly owned 5,125,000 shares in the company, valued at $76,106,250. The trade was a 3.14% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Voss Capital, Lp also recently made the following trade(s):

• On Thursday, June 11th, Voss Capital, Lp purchased 193,751 shares of PAR Technology stock. The shares were purchased at an average cost of $14.15 per share, with a total value of $2,741,576.65.
• On Friday, May 15th, Voss Capital, Lp purchased 125,000 shares of PAR Technology stock. The shares were purchased at an average cost of $14.62 per share, with a total value of $1,827,500.00.
• On Thursday, May 14th, Voss Capital, Lp purchased 594,900 shares of PAR Technology stock. The shares were purchased at an average cost of $14.59 per share, with a total value of $8,679,591.00.

PAR Technology Price Performance

PAR stock traded down $0.26 during trading on Monday, hitting $14.64. 1,316,900 shares of the stock traded hands, compared to its average volume of 1,290,881. PAR Technology Corporation has a one year low of $11.59 and a one year high of $72.15. The stock has a market cap of $603.82 million, a price-to-earnings ratio of -7.83 and a beta of 1.35. The company has a 50 day simple moving average of $14.15 and a 200 day simple moving average of $22.49. The company has a current ratio of 2.10, a quick ratio of 1.83 and a debt-to-equity ratio of 0.51.

PAR Technology (NYSE:PAR - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The software maker reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. PAR Technology had a negative net margin of 16.04% and a negative return on equity of 2.57%. The firm had revenue of $123.97 million during the quarter, compared to the consensus estimate of $116.88 million. During the same period last year, the firm posted ($0.01) EPS. The firm's quarterly revenue was up 19.4% on a year-over-year basis. Equities analysts expect that PAR Technology Corporation will post -0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On PAR Technology

Several institutional investors have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. grew its position in shares of PAR Technology by 3.5% during 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 buying an additional 201,782 shares during the period. Vanguard Group Inc. grew 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 during the period. Capital Research Global Investors grew 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 during the period. Progeny 3 Inc. grew its position in shares of PAR Technology by 5.6% during the 1st quarter. Progeny 3 Inc. now owns 2,170,808 shares of the software maker's stock worth $28,937,000 after buying an additional 114,500 shares during the period. Finally, Reinhart Partners LLC. grew its position in shares of PAR Technology by 45.6% during 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 period.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PAR. Needham & Company LLC cut their price target on shares of PAR Technology from $30.00 to $25.00 and set a "buy" rating for the company in a report on Thursday, April 9th. Benchmark dropped their target price on shares of PAR Technology from $42.00 to $33.00 and set a "buy" rating for the company in a research note on Monday, March 16th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of PAR Technology in a research note on Friday, March 27th. The Goldman Sachs Group dropped their target price on shares of PAR Technology from $40.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, March 3rd. Finally, Royal Bank Of Canada set a $16.00 target price on shares of PAR Technology in a research note on Tuesday, June 9th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $25.78.

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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