PAR Technology (NYSE:PAR) Major Shareholder Purchases $1,827,500.00 in Stock

Key Points

• Voss Capital, Lp, PAR Technology’s major shareholder, bought 125,000 shares for about $1.83 million at an average price of $14.62 per share, increasing its stake by 2.69% to 4.775 million shares.
• The firm had also purchased 594,900 shares the previous day for about $8.68 million, signaling continued insider buying activity.
• PAR Technology recently reported better-than-expected quarterly results, with EPS of $0.10 versus a $0.07 estimate and revenue of $123.97 million, up 19.4% year over year, even though the stock was trading near $14.03.

PAR Technology Corporation (NYSE:PAR - Get Free Report) major shareholder Voss Capital, Lp purchased 125,000 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average price of $14.62 per share, for a total transaction of $1,827,500.00. Following the completion of the purchase, the insider directly owned 4,775,000 shares of the company's stock, valued at $69,810,500. This represents a 2.69% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

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

• On Thursday, May 14th, Voss Capital, Lp purchased 594,900 shares of PAR Technology stock. The stock was acquired at an average price of $14.59 per share, for a total transaction of $8,679,591.00.

PAR Technology Stock Performance

Shares of PAR stock traded down $0.68 on Monday, hitting $14.03. The company's stock had a trading volume of 1,446,666 shares, compared to its average volume of 1,400,699. 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 stock's 50 day moving average is $14.19 and its 200-day moving average is $25.46. PAR Technology Corporation has a fifty-two week low of $11.59 and a fifty-two week high of $72.15. The company has a market capitalization of $578.53 million, a PE ratio of -7.50 and a beta of 1.32.

PAR Technology (NYSE:PAR - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The software maker reported $0.10 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 business had revenue of $123.97 million for the quarter, compared to the consensus estimate of $116.88 million. During the same period in the prior year, the company posted ($0.01) earnings per share. PAR Technology's revenue was up 19.4% compared to the same quarter last year. Equities research analysts expect that PAR Technology Corporation will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PAR Technology

A number of hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC boosted its stake in shares of PAR Technology by 6.9% in 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 in the last quarter. SkyView Investment Advisors LLC boosted its stake in shares of PAR Technology by 3.3% in the 2nd quarter. SkyView Investment Advisors LLC now owns 16,915 shares of the software maker's stock valued at $1,153,000 after purchasing an additional 548 shares in the last quarter. &PARTNERS boosted its stake in shares of PAR Technology by 10.6% in the 4th quarter. &PARTNERS now owns 6,444 shares of the software maker's stock valued at $234,000 after purchasing an additional 620 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of PAR Technology by 6.8% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 9,835 shares of the software maker's stock valued at $357,000 after purchasing an additional 622 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in shares of PAR Technology in the 3rd quarter valued at approximately $26,000.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PAR. Benchmark reduced their price objective on shares of PAR Technology from $42.00 to $33.00 and set a "buy" rating on the stock in a research note on Monday, March 16th. Jefferies Financial Group set a $18.00 price objective on shares of PAR Technology in a research note on Saturday, May 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of PAR Technology in a research note on Friday, March 27th. Needham & Company LLC reduced their price objective on shares of PAR Technology from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Thursday, April 9th. Finally, The Goldman Sachs Group reduced their price objective on shares of PAR Technology from $40.00 to $18.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 3rd. Five equities research 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $30.67.

About PAR Technology

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.