Progeny 3 Inc. Grows Holdings in PAR Technology Corporation $PAR

Progeny 3 Inc. increased its stake in shares of PAR Technology Corporation (NYSE:PAR) by 5.6% in the first quarter, HoldingsChannel.com reports. The firm owned 2,170,808 shares of the software maker’s stock after buying an additional 114,500 shares during the period. PAR Technology accounts for approximately 1.6% of Progeny 3 Inc.’s portfolio, making the stock its 23rd largest holding. Progeny 3 Inc. owned about 0.05% of PAR Technology worth $28,937,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. State of Wyoming purchased a new stake in PAR Technology in the fourth quarter valued at approximately $34,000. Kestra Advisory Services LLC purchased a new position in shares of PAR Technology during the fourth quarter worth $35,000. MidFirst Bank purchased a new position in shares of PAR Technology during the fourth quarter worth $113,000. Corsair Capital Management L.P. acquired a new stake in shares of PAR Technology in the first quarter valued at $133,000. Finally, AQR Capital Management LLC acquired a new stake in shares of PAR Technology in the fourth quarter valued at $201,000.

Insider Buying and Selling

In other news, major shareholder Voss Capital, Lp purchased 156,249 shares of the stock in a transaction on Friday, June 12th. The stock was bought at an average price of $14.85 per share, for a total transaction of $2,320,297.65. Following the acquisition, the insider directly owned 5,125,000 shares of the company’s stock, valued at approximately $76,106,250. The trade was a 3.14% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Cathy A. King sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $15.38, for a total transaction of $307,600.00. Following the completion of the sale, the insider directly owned 122,919 shares in the company, valued at approximately $1,890,494.22. This represents a 13.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have purchased 1,069,900 shares of company stock worth $15,568,965 over the last 90 days. Insiders own 2.30% of the company’s stock.

PAR Technology Trading Down 0.2%

PAR opened at $15.42 on Monday. PAR Technology Corporation has a 12 month low of $11.59 and a 12 month high of $68.98. The stock has a market capitalization of $635.91 million, a price-to-earnings ratio of -8.24 and a beta of 1.32. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.10 and a quick ratio of 1.83. The business has a fifty day moving average price of $15.71 and a 200 day moving average price of $18.53.

PAR Technology (NYSE:PAR) last posted its quarterly earnings results on Thursday, May 7th. The software maker reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The company had revenue of $123.97 million for the quarter, compared to analyst estimates of $116.88 million. PAR Technology had a negative return on equity of 2.57% and a negative net margin of 16.04%.PAR Technology’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.01) EPS. Sell-side analysts expect that PAR Technology Corporation will post -0.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PAR shares. JPMorgan Chase & Co. increased their target price on PAR Technology from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. Jefferies Financial Group set a $18.00 price target on shares of PAR Technology in a research note on Saturday, May 9th. Royal Bank Of Canada set a $16.00 price target on shares of PAR Technology in a research report on Tuesday, June 9th. Needham & Company LLC lowered their price objective on shares of PAR Technology from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Finally, UBS Group set a $16.00 price objective on shares of PAR Technology in a report on Tuesday, June 9th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $26.17.

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.