Renaissance Technologies LLC Invests $5.51 Million in PAR Technology Corporation $PAR

Renaissance Technologies LLC acquired a new stake in shares of PAR Technology Corporation (NYSE:PAR) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 413,200 shares of the software maker’s stock, valued at approximately $5,508,000.

A number of other institutional investors have also made changes to their positions in the stock. Gabelli Funds LLC lifted its holdings in PAR Technology by 88.7% in the 1st quarter. Gabelli Funds LLC now owns 178,700 shares of the software maker’s stock worth $2,382,000 after purchasing an additional 84,000 shares during the last quarter. Inceptionr LLC raised its position in shares of PAR Technology by 33.1% in the first quarter. Inceptionr LLC now owns 15,501 shares of the software maker’s stock valued at $207,000 after purchasing an additional 3,853 shares during the period. Bandera Partners LLC bought a new position in shares of PAR Technology in the first quarter valued at approximately $9,331,000. Sei Investments Co. boosted its holdings in shares of PAR Technology by 39.8% during the 1st quarter. Sei Investments Co. now owns 117,400 shares of the software maker’s stock worth $1,565,000 after buying an additional 33,408 shares during the period. Finally, Hsbc Holdings PLC bought a new position in PAR Technology in the 1st quarter worth $422,000.

Wall Street Analysts Forecast Growth

PAR has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of PAR Technology in a research note on Friday, July 10th. UBS Group set a $16.00 target price on PAR Technology in a report on Tuesday, June 9th. The Goldman Sachs Group lifted their price target on PAR Technology from $18.00 to $20.50 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Royal Bank Of Canada set a $16.00 price target on PAR Technology in a report on Tuesday, June 9th. Finally, Needham & Company LLC reduced their price objective 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. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, PAR Technology presently has an average rating of “Moderate Buy” and an average target price of $26.17.

PAR Technology Stock Performance

NYSE:PAR opened at $17.54 on Thursday. The firm’s 50-day moving average is $16.12 and its 200-day moving average is $17.39. The company has a market cap of $723.36 million, a price-to-earnings ratio of -9.38 and a beta of 1.33. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.83 and a current ratio of 2.10. PAR Technology Corporation has a 52-week low of $11.59 and a 52-week high of $60.42.

PAR Technology (NYSE:PAR) last released its 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 during the quarter, compared to analysts’ expectations of $116.88 million. During the same quarter last year, the company earned ($0.01) earnings per share. The firm’s revenue was up 19.4% on a year-over-year basis. Equities research analysts anticipate that PAR Technology Corporation will post -0.16 earnings per share for the current year.

Insider Activity

In other news, major shareholder Voss Capital, Lp purchased 594,900 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average price of $14.59 per share, with a total value of $8,679,591.00. Following the acquisition, the insider directly owned 4,675,000 shares in the company, valued at approximately $68,208,250. The trade was a 14.58% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Cathy A. King sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $15.38, for a total value of $307,600.00. Following the completion of the sale, the insider owned 122,919 shares of the company’s stock, valued at $1,890,494.22. This represents a 13.99% decrease in their position. 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. Corporate insiders own 2.30% of the company’s stock.

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.