Key Points
- Major shareholder Voss Capital bought 125,000 PAR Technology shares on May 15 at $14.62 each, totaling $1.83 million. The purchase lifted its stake to 4.775 million shares, a 2.69% increase in ownership.
- Voss Capital also made a larger purchase the day before, acquiring 594,900 shares on May 14 for about $8.68 million at an average price of $14.59 per share.
- PAR Technology recently reported better-than-expected quarterly results, with EPS of $0.10 versus $0.07 expected and revenue of $123.97 million, up 19.4% year over year. Despite that, analysts remain mixed, with an average rating of “Moderate Buy” and a consensus price target of $30.67.
PAR Technology Corporation (NYSE:PAR - Get Free Report) major shareholder Voss Capital, Lp bought 125,000 shares of the company's stock in a transaction that occurred on Friday, May 15th. The shares were purchased at an average cost of $14.62 per share, for a total transaction of $1,827,500.00. Following the acquisition, the insider owned 4,775,000 shares of the company's stock, valued at $69,810,500. This represents a 2.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Voss Capital, Lp also recently made the following trade(s):
- On Thursday, May 14th, Voss Capital, Lp purchased 594,900 shares of PAR Technology stock. The stock was acquired at an average price of $14.59 per share, for a total transaction of $8,679,591.00.
PAR Technology Price Performance
Shares of PAR Technology stock opened at $14.03 on Tuesday. 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 company's 50-day moving average price is $14.19 and its two-hundred day moving average price is $25.46. PAR Technology Corporation has a 52 week low of $11.59 and a 52 week high of $72.15. The stock has a market cap of $578.53 million, a PE ratio of -7.50 and a beta of 1.32.
PAR Technology (NYSE:PAR - Get Free Report) last posted 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 company had revenue of $123.97 million for the quarter, compared to analysts' expectations 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 revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) earnings per share. As a group, sell-side analysts anticipate that PAR Technology Corporation will post -0.05 EPS for the current fiscal year.
Hedge Funds Weigh In On PAR Technology
Hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC acquired a new position in shares of PAR Technology in the third quarter worth $26,000. Aster Capital Management DIFC Ltd acquired a new position in shares of PAR Technology in the third quarter worth $28,000. State of Wyoming acquired a new position in shares of PAR Technology in the fourth quarter worth $34,000. Kestra Advisory Services LLC acquired a new position in shares of PAR Technology in the fourth quarter worth $35,000. Finally, Central Pacific Bank Trust Division increased its stake in shares of PAR Technology by 50.0% in the fourth quarter. Central Pacific Bank Trust Division now owns 3,000 shares of the software maker's stock worth $109,000 after acquiring an additional 1,000 shares during the last quarter.
Analysts Set New Price Targets
Several research analysts have issued reports on PAR shares. The Goldman Sachs Group dropped their price target on PAR Technology from $40.00 to $18.00 and set a "neutral" rating on the stock in a report on Tuesday, March 3rd. William Blair reaffirmed an "outperform" rating on shares of PAR Technology in a report on Friday, March 13th. Needham & Company LLC cut their price objective on PAR Technology from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday, April 9th. Weiss Ratings restated a "sell (d-)" rating on shares of PAR Technology in a report on Friday, March 27th. Finally, Jefferies Financial Group set a $18.00 price objective on PAR Technology in a report on Saturday, May 9th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, PAR Technology presently has an average rating of "Moderate Buy" and an average target price of $30.67.
Check Out Our Latest Stock Analysis on PAR
About PAR Technology
(
Get Free Report)
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.
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