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

Shares of PAR Technology Corporation (NYSE:PAR) gapped up prior to trading on Tuesday following insider buying activity. 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 acquired 125,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average price of $14.62 per share, for a total transaction of $1,827,500.00. Following the completion of the transaction, the insider directly owned 4,775,000 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Voss Capital, Lp bought 594,900 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of $14.59 per share, for a total transaction of $8,679,591.00. Following the acquisition, the insider directly owned 4,675,000 shares of the company’s stock, valued at $68,208,250. The trade was a 14.58% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Needham & Company LLC decreased their target price on shares of PAR Technology from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Weiss Ratings restated a “sell (d-)” rating on shares of PAR Technology in a research note on Friday, March 27th. Jefferies Financial Group set a $18.00 price objective on PAR Technology in a report on Saturday, May 9th. Benchmark reduced their price objective on PAR Technology from $42.00 to $33.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Finally, BTIG Research lowered their target price on PAR Technology from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, PAR Technology has an average rating of “Moderate Buy” and an average price target of $30.67.

PAR Technology Trading Up 7.6%

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

PAR Technology (NYSE:PAR) last issued its quarterly earnings results on Thursday, May 7th. The software maker reported $0.10 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $116.88 million. During the same quarter last year, the company posted ($0.01) EPS. The company’s revenue was up 19.4% compared to the same quarter last year. On average, sell-side analysts predict that PAR Technology Corporation will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On PAR Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC bought a new stake in PAR Technology during the third quarter valued at about $26,000. Aster Capital Management DIFC Ltd bought a new position in shares of PAR Technology in the third quarter worth about $28,000. State of Wyoming bought a new position in shares of PAR Technology in the fourth quarter worth about $34,000. Kestra Advisory Services LLC purchased a new position in shares of PAR Technology during the 4th quarter valued at about $35,000. Finally, Central Pacific Bank Trust Division lifted its position in shares of 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 buying an additional 1,000 shares in the last quarter.

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.