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

Shares of 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 $14.69, but opened at $15.28. PAR Technology shares last traded at $15.2950, with a volume of 163,002 shares changing hands.

Specifically, major shareholder Voss Capital, Lp purchased 156,249 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were bought at an average price of $14.85 per share, with a total value of $2,320,297.65. Following the completion of the purchase, the insider directly owned 5,125,000 shares in the company, valued at $76,106,250. This trade represents a 3.14% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Voss Capital, Lp purchased 193,751 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average cost of $14.15 per share, for a total transaction of $2,741,576.65. Following the purchase, the insider owned 4,968,751 shares of the company’s stock, valued at $70,307,826.65. This represents a 4.06% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Analyst Upgrades and Downgrades

PAR has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised shares of PAR Technology from an “underweight” rating to a “neutral” rating and upped their price target for the company from $12.00 to $16.00 in a research note on Tuesday, June 9th. Stephens decreased their price target on shares of PAR Technology from $60.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Jefferies Financial Group set a $18.00 target price on shares of PAR Technology in a research note on Saturday, May 9th. William Blair reissued an “outperform” rating on shares of PAR Technology in a research note on Friday, March 13th. Finally, Benchmark reduced their target price on shares of PAR Technology from $42.00 to $33.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. Five investment 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $25.78.

PAR Technology Trading Up 5.2%

The firm has a market cap of $637.40 million, a PE ratio of -8.24 and a beta of 1.35. 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 company’s 50 day moving average price is $14.15 and its two-hundred day moving average price is $22.49.

PAR Technology (NYSE:PAR) last announced 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. The business had revenue of $123.97 million for 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 business’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. As a group, sell-side analysts forecast that PAR Technology Corporation will post -0.28 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. grew its holdings in shares of PAR Technology by 3.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,916,459 shares of the software maker’s stock worth $214,650,000 after purchasing an additional 201,782 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of PAR Technology by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 3,304,052 shares of the software maker’s stock worth $119,871,000 after purchasing an additional 12,250 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of PAR Technology by 17.3% in the third quarter. Capital Research Global Investors now owns 3,237,004 shares of the software maker’s stock worth $128,121,000 after purchasing an additional 476,839 shares during the last quarter. Progeny 3 Inc. grew its holdings in shares of PAR Technology by 5.6% in the first quarter. Progeny 3 Inc. now owns 2,170,808 shares of the software maker’s stock worth $28,937,000 after purchasing an additional 114,500 shares during the last quarter. Finally, Reinhart Partners LLC. grew its holdings 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 worth $47,522,000 after purchasing an additional 410,183 shares during the last quarter.

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.