Voss Capital, Lp Buys 146,789 Shares of PAR Technology (NYSE:PAR) Stock

PAR Technology Corporation (NYSE:PAR) major shareholder Voss Capital, Lp acquired 146,789 shares of the stock in a transaction dated Tuesday, December 30th. The stock was bought at an average price of $36.51 per share, with a total value of $5,359,266.39. Following the purchase, the insider directly owned 3,564,652 shares in the company, valued at $130,145,444.52. This represents a 4.29% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Voss Capital, Lp also recently made the following trade(s):

• On Tuesday, January 6th, Voss Capital, Lp purchased 25,000 shares of PAR Technology stock. The shares were acquired at an average price of $34.56 per share, for a total transaction of $864,000.00.
• On Monday, January 5th, Voss Capital, Lp purchased 8,898 shares of PAR Technology stock. The shares were purchased at an average cost of $35.82 per share, for a total transaction of $318,726.36.
• On Wednesday, December 31st, Voss Capital, Lp purchased 15,348 shares of PAR Technology stock. The shares were purchased at an average price of $36.60 per share, with a total value of $561,736.80.

PAR Technology Stock Performance

PAR Technology stock traded down $0.60 during mid-day trading on Wednesday, reaching $34.80. The company’s stock had a trading volume of 511,910 shares, compared to its average volume of 503,927. PAR Technology Corporation has a 12-month low of $31.65 and a 12-month high of $77.55. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.51 and a current ratio of 1.70. The company has a market capitalization of $1.41 billion, a P/E ratio of -16.26 and a beta of 1.35. The firm’s fifty day moving average price is $35.82 and its two-hundred day moving average price is $46.37.

PAR Technology (NYSE:PAR) last released its quarterly earnings results on Thursday, November 6th. The software maker reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The firm had revenue of $119.18 million during the quarter, compared to the consensus estimate of $112.23 million. PAR Technology had a negative return on equity of 2.56% and a negative net margin of 19.21%.The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.09) EPS. Sell-side analysts predict that PAR Technology Corporation will post -1.47 EPS for the current fiscal year.

Institutional Investors Weigh In On PAR Technology

A number of hedge funds have recently modified their holdings of PAR. Vanguard Group Inc. increased its position in PAR Technology by 0.5% in the third quarter. Vanguard Group Inc. now owns 3,291,802 shares of the software maker’s stock worth $130,290,000 after buying an additional 15,131 shares in the last quarter. Capital Research Global Investors raised its stake in PAR Technology by 17.3% during the 3rd quarter. Capital Research Global Investors now owns 3,237,004 shares of the software maker’s stock valued at $128,121,000 after purchasing an additional 476,839 shares during the period. Invesco Ltd. boosted its position in shares of PAR Technology by 24.1% during the second quarter. Invesco Ltd. now owns 1,877,239 shares of the software maker’s stock worth $130,224,000 after acquiring an additional 364,892 shares during the last quarter. Bamco Inc. NY grew its holdings in PAR Technology by 8.5% during the 2nd quarter. Bamco Inc. NY now owns 1,751,387 shares of the software maker’s stock valued at $121,494,000 after buying an additional 137,434 shares in the last quarter. Finally, Progeny 3 Inc. raised its stake in PAR Technology by 16.9% during the third quarter. Progeny 3 Inc. now owns 1,732,318 shares of the software maker’s stock valued at $68,565,000 after purchasing an additional 249,923 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PAR shares. BTIG Research decreased their price target on shares of PAR Technology from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, November 7th. The Goldman Sachs Group lowered their price target on PAR Technology from $50.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. William Blair reiterated an “outperform” rating on shares of PAR Technology in a research note on Tuesday, October 14th. Needham & Company LLC reissued a “buy” rating and set a $55.00 price objective on shares of PAR Technology in a research report on Thursday, November 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of PAR Technology in a research report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $64.00.

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.