Segall Bryant & Hamill LLC cut its holdings in shares of PAR Technology Corporation (NYSE:PAR – Free Report) by 13.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 320,949 shares of the software maker’s stock after selling 48,971 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.78% of PAR Technology worth $4,278,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Greenstone Partners & Co. LLC bought a new position in shares of PAR Technology in the fourth quarter valued at $36,981,000. Bandera Partners LLC bought a new stake in shares of PAR Technology during the 1st quarter worth $9,331,000. Renaissance Technologies LLC bought a new stake in shares of PAR Technology during the 1st quarter worth $5,508,000. Reinhart Partners LLC. grew its holdings in shares of PAR Technology by 45.6% in the 4th quarter. Reinhart Partners LLC. now owns 1,309,860 shares of the software maker’s stock worth $47,522,000 after acquiring an additional 410,183 shares during the last quarter. Finally, Progeny 3 Inc. raised its position in shares of PAR Technology by 18.7% during the fourth quarter. Progeny 3 Inc. now owns 2,056,308 shares of the software maker’s stock worth $74,603,000 after purchasing an additional 323,990 shares during the period.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on PAR. JPMorgan Chase & Co. increased their price target on PAR Technology from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, June 24th. The Goldman Sachs Group boosted their price objective on PAR Technology from $18.00 to $20.50 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PAR Technology in a research note on Friday, July 10th. Royal Bank Of Canada set a $16.00 target price on shares of PAR Technology in a report on Tuesday, June 9th. Finally, UBS Group set a $16.00 target price on shares of PAR Technology in a research report on Tuesday, June 9th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.17.
Insider Buying and Selling
In related news, major shareholder Voss Capital, Lp acquired 594,900 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of $14.59 per share, for a total transaction of $8,679,591.00. Following the purchase, the insider owned 4,675,000 shares in the company, valued at $68,208,250. This represents a 14.58% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cathy A. King sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $15.38, for a total transaction of $307,600.00. Following the completion of the sale, the insider owned 122,919 shares of the company’s stock, valued at approximately $1,890,494.22. The trade was a 13.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have purchased 1,069,900 shares of company stock worth $15,568,965 over the last ninety days. 2.30% of the stock is currently owned by insiders.
PAR Technology Stock Up 2.5%
Shares of PAR Technology stock opened at $17.37 on Tuesday. The stock has a 50-day moving average price of $16.01 and a 200 day moving average price of $17.69. The company has a market cap of $716.61 million, a P/E ratio of -9.29 and a beta of 1.32. The company has a current ratio of 2.10, a quick ratio of 1.83 and a debt-to-equity ratio of 0.51. PAR Technology Corporation has a 1 year low of $11.59 and a 1 year high of $61.23.
PAR Technology (NYSE:PAR – Get Free Report) last released 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 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 business’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.01) EPS. As a group, analysts expect that PAR Technology Corporation will post -0.16 EPS for the current fiscal year.
PAR Technology 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.
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