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

PAR Technology Corporation (NYSE:PAR) gapped up before the market opened on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $14.00, but opened at $14.75. PAR Technology shares last traded at $15.0470, with a volume of 156,352 shares changing hands.

Specifically, major shareholder Voss Capital, Lp bought 125,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was acquired at an average price of $14.62 per share, with a total value of $1,827,500.00. Following the completion of the purchase, the insider owned 4,775,000 shares of the company’s stock, valued at approximately $69,810,500. This trade represents a 2.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Voss Capital, Lp bought 594,900 shares of the stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $14.59 per share, with a total value of $8,679,591.00. Following the completion of the acquisition, the insider directly owned 4,675,000 shares of the company’s stock, valued at approximately $68,208,250. The trade was a 14.58% increase in their position. The SEC filing for this purchase provides additional information.

Analyst Ratings Changes

Several analysts recently weighed in on PAR shares. Weiss Ratings restated a “sell (d-)” rating on shares of PAR Technology in a research note on Friday, March 27th. William Blair reiterated an “outperform” rating on shares of PAR Technology in a research note on Friday, March 13th. Needham & Company LLC lowered their price objective on PAR Technology from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Jefferies Financial Group set a $18.00 target price on PAR Technology in a report on Saturday, May 9th. Finally, BTIG Research cut their target price on PAR Technology from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Five 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.67.

PAR Technology Trading Up 7.6%

The stock’s fifty day moving average price is $14.19 and its 200 day moving average price is $25.46. 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 stock has a market cap of $621.58 million, a PE ratio of -8.07 and a beta of 1.32.

PAR Technology (NYSE:PAR) last announced 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. The company had revenue of $123.97 million during the quarter, compared to the consensus estimate of $116.88 million. PAR Technology had a negative net margin of 16.04% and a negative return on equity of 2.57%. The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.01) earnings per share. On average, sell-side analysts forecast that PAR Technology Corporation will post -0.05 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. FNY Investment Advisers LLC bought a new position in shares of PAR Technology during the third quarter valued at $26,000. Aster Capital Management DIFC Ltd bought a new stake in PAR Technology in the 3rd quarter worth about $28,000. State of Wyoming purchased a new position in PAR Technology in the 4th quarter worth about $34,000. Kestra Advisory Services LLC purchased a new position in PAR Technology in the 4th quarter worth about $35,000. Finally, Central Pacific Bank Trust Division lifted its stake in PAR Technology by 50.0% during the 4th quarter. Central Pacific Bank Trust Division now owns 3,000 shares of the software maker’s stock valued at $109,000 after acquiring an additional 1,000 shares during the period.

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.