PAR Technology Corporation $PAR Shares Acquired by Gabelli Funds LLC

Gabelli Funds LLC increased its holdings in PAR Technology Corporation (NYSE:PAR) by 88.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 178,700 shares of the software maker’s stock after purchasing an additional 84,000 shares during the period. Gabelli Funds LLC’s holdings in PAR Technology were worth $2,382,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. State of Wyoming purchased a new position in PAR Technology during the fourth quarter worth about $34,000. Kestra Advisory Services LLC purchased a new stake in PAR Technology in the 4th quarter valued at about $35,000. MidFirst Bank purchased a new stake in PAR Technology in the 4th quarter valued at about $113,000. AQR Capital Management LLC acquired a new position in shares of PAR Technology during the 4th quarter valued at about $201,000. Finally, Inceptionr LLC lifted its holdings in shares of PAR Technology by 33.1% during the 1st quarter. Inceptionr LLC now owns 15,501 shares of the software maker’s stock worth $207,000 after acquiring an additional 3,853 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PAR. Weiss Ratings restated a “sell (e+)” rating on shares of PAR Technology in a report on Friday, July 10th. Jefferies Financial Group set a $18.00 price objective on PAR Technology in a report on Saturday, May 9th. JPMorgan Chase & Co. lifted their target price on PAR Technology from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, June 24th. Needham & Company LLC lowered their price target on PAR Technology from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Finally, UBS Group set a $16.00 price objective on PAR Technology in a report on Tuesday, June 9th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.17.

Insider Transactions at PAR Technology

In related news, insider Cathy A. King sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $15.38, for a total transaction of $307,600.00. Following the sale, the insider directly owned 122,919 shares in the company, valued at approximately $1,890,494.22. This trade represents a 13.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Voss Capital, Lp purchased 156,249 shares of PAR Technology stock in a transaction that occurred on Friday, June 12th. The shares were bought at an average cost of $14.85 per share, for a total transaction of $2,320,297.65. Following the completion of the transaction, the insider directly owned 5,125,000 shares in the company, valued at $76,106,250. This represents a 3.14% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders bought 1,069,900 shares of company stock valued at $15,568,965. Insiders own 2.30% of the company’s stock.

PAR Technology Stock Performance

NYSE:PAR opened at $17.38 on Thursday. The company has a current ratio of 2.10, a quick ratio of 1.83 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $717.09 million, a price-to-earnings ratio of -9.30 and a beta of 1.32. The firm’s fifty day simple moving average is $15.86 and its 200 day simple moving average is $18.13. PAR Technology Corporation has a twelve month low of $11.59 and a twelve month high of $64.63.

PAR Technology (NYSE:PAR) 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. The firm had revenue of $123.97 million during the quarter, compared to the consensus estimate of $116.88 million. PAR Technology had a negative return on equity of 2.57% and a negative net margin of 16.04%.The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.01) EPS. As a group, equities research analysts expect that PAR Technology Corporation will post -0.16 earnings per share for the current fiscal year.

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.