PAR Technology (NYSE:PAR) Shares Gap Up on Insider Buying Activity

Key Points

• PAR Technology shares jumped after the stock gap-opened higher on Tuesday, rising from a prior close of $14.69 to an open of $15.28 following insider buying activity.
• Voss Capital increased its stake by buying 156,249 shares at $14.85 and 193,751 shares at $14.15 on June 11 and June 12, lifting its ownership significantly, with both purchases disclosed in SEC filings.
• Analysts remain cautiously positive on PAR Technology, with a consensus rating of “Moderate Buy” and an average price target of $25.78, while the company recently beat quarterly EPS and revenue estimates.

PAR Technology Corporation (NYSE:PAR - Get Free Report)'s stock price gapped up prior to trading on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $14.69, but opened at $15.28. PAR Technology shares last traded at $15.2950, with a volume of 163,002 shares trading hands.

Specifically, major shareholder Voss Capital, Lp purchased 156,249 shares of PAR Technology stock in a transaction dated Friday, June 12th. The stock was purchased at an average cost of $14.85 per share, for a total transaction of $2,320,297.65. Following the completion of the purchase, the insider directly owned 5,125,000 shares of the company's stock, valued at $76,106,250. The trade was a 3.14% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Voss Capital, Lp purchased 193,751 shares of PAR Technology stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $14.15 per share, with a total value of $2,741,576.65. Following the completion of the purchase, the insider directly owned 4,968,751 shares of the company's stock, valued at approximately $70,307,826.65. This trade represents a 4.06% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Royal Bank Of Canada set a $16.00 price target on shares of PAR Technology in a research note on Tuesday, June 9th. Benchmark cut 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 report on Monday, March 16th. UBS Group set a $16.00 target price on shares of PAR Technology in a research report on Tuesday, June 9th. JPMorgan Chase & Co. upgraded shares of PAR Technology from an "underweight" rating to a "neutral" rating and boosted their target price for the company from $12.00 to $16.00 in a research report on Tuesday, June 9th. Finally, Stephens cut their target price on shares of PAR Technology from $60.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, February 27th. 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. Based on data from MarketBeat.com, PAR Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.78.

PAR Technology Price Performance

The company has a quick ratio of 1.83, a current ratio of 2.10 and a debt-to-equity ratio of 0.51. The firm has a market cap of $637.40 million, a PE ratio of -8.24 and a beta of 1.35. The firm's fifty day simple moving average is $14.15 and its two-hundred day simple moving average is $22.49.

PAR Technology (NYSE:PAR - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The software maker reported $0.10 earnings per share 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 quarter in the previous year, the firm earned ($0.01) earnings per share. The company's revenue for the quarter was up 19.4% on a year-over-year basis. As a group, research analysts expect that PAR Technology Corporation will post -0.28 EPS for the current year.

Hedge Funds Weigh In On PAR Technology

Several large investors have recently added to or reduced their stakes in PAR. ProShare Advisors LLC lifted its holdings in shares of PAR Technology by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 7,330 shares of the software maker's stock worth $266,000 after buying an additional 471 shares in the last quarter. SkyView Investment Advisors LLC raised its stake in PAR Technology by 3.3% during the second 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 raised its stake in PAR Technology by 10.6% during the fourth 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. raised its stake in PAR Technology by 6.8% during the fourth 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 purchased a new stake in PAR Technology during the third quarter valued at $26,000.

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.

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