Capital Research Global Investors Sells 274,751 Shares of PAR Technology Corporation $PAR

Capital Research Global Investors trimmed its stake in shares of PAR Technology Corporation (NYSE:PAR) by 8.5% in the fourth quarter, HoldingsChannel reports. The firm owned 2,962,253 shares of the software maker’s stock after selling 274,751 shares during the quarter. Capital Research Global Investors owned 0.07% of PAR Technology worth $107,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State of Wyoming bought a new stake in shares of PAR Technology in the fourth quarter valued at about $34,000. TD Asset Management Inc boosted its position in shares of PAR Technology by 1.7% in the fourth quarter. TD Asset Management Inc now owns 156,958 shares of the software maker’s stock valued at $5,694,000 after acquiring an additional 2,558 shares during the period. Reinhart Partners LLC. boosted its position in shares of PAR Technology by 45.6% in the fourth quarter. Reinhart Partners LLC. now owns 1,309,860 shares of the software maker’s stock valued at $47,522,000 after acquiring an additional 410,183 shares during the period. One Capital Management LLC boosted its position in shares of PAR Technology by 42.0% in the fourth quarter. One Capital Management LLC now owns 30,369 shares of the software maker’s stock valued at $1,102,000 after acquiring an additional 8,977 shares during the period. Finally, Pring Turner Capital Group Inc. boosted its position in shares of PAR Technology by 27.2% in the fourth quarter. Pring Turner Capital Group Inc. now owns 6,916 shares of the software maker’s stock valued at $251,000 after acquiring an additional 1,480 shares during the period.

PAR Technology Stock Down 1.2%

PAR stock opened at $13.30 on Tuesday. The company has a market cap of $548.58 million, a PE ratio of -7.11 and a beta of 1.35. The business has a 50-day simple moving average of $14.04 and a 200 day simple moving average of $23.16. PAR Technology Corporation has a 52 week low of $11.59 and a 52 week high of $72.15. The company has a quick ratio of 1.83, a current ratio of 2.10 and a debt-to-equity ratio of 0.51.

PAR Technology (NYSE:PAR) last posted its quarterly earnings results on Thursday, May 7th. The software maker reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The business 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%.PAR Technology’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. Sell-side analysts anticipate that PAR Technology Corporation will post -0.28 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PAR. William Blair reissued an “outperform” rating on shares of PAR Technology in a research report on Friday, March 13th. Benchmark reduced 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. JPMorgan Chase & Co. began coverage on shares of PAR Technology in a research report on Friday, May 29th. They issued an “underweight” rating and a $12.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of PAR Technology in a research report on Friday, March 27th. Finally, Jefferies Financial Group set a $18.00 target price on shares of PAR Technology in a research report on Saturday, May 9th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.00.

Insider Transactions at PAR Technology

In related news, insider Cathy A. King sold 20,000 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 122,919 shares of the company’s stock, valued at $1,890,494.22. The trade was a 13.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Voss Capital, Lp purchased 594,900 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average cost of $14.59 per share, with a total value of $8,679,591.00. Following the purchase, the insider owned 4,675,000 shares of the company’s stock, valued at $68,208,250. This represents a 14.58% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.30% of the stock is owned by insiders.

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.