Bandera Partners LLC Makes New Investment in PAR Technology Corporation $PAR

Bandera Partners LLC acquired a new stake in shares of PAR Technology Corporation (NYSE:PAR) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 700,000 shares of the software maker’s stock, valued at approximately $9,331,000. PAR Technology makes up about 4.2% of Bandera Partners LLC’s portfolio, making the stock its 7th biggest position. Bandera Partners LLC owned approximately 1.70% of PAR Technology at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. increased its stake in shares of PAR Technology by 3.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,916,459 shares of the software maker’s stock worth $214,650,000 after acquiring an additional 201,782 shares in the last quarter. Vanguard Group Inc. boosted its stake in PAR Technology by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 3,304,052 shares of the software maker’s stock worth $119,871,000 after acquiring an additional 12,250 shares in the last quarter. Progeny 3 Inc. grew its holdings in PAR Technology by 18.7% in 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. Reinhart Partners LLC. grew its holdings in 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 period. Finally, Greenstone Partners & Co. LLC bought a new position in shares of PAR Technology during the fourth quarter valued at approximately $36,981,000.

PAR Technology Trading Up 1.5%

Shares of NYSE:PAR opened at $15.56 on Friday. The stock’s 50-day simple moving average is $15.69 and its two-hundred day simple moving average is $18.68. The stock has a market capitalization of $641.97 million, a price-to-earnings ratio of -8.32 and a beta of 1.32. PAR Technology Corporation has a 52-week low of $11.59 and a 52-week high of $70.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.83 and a current ratio of 2.10.

PAR Technology (NYSE:PAR) last released its quarterly earnings results on Thursday, May 7th. The software maker reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. The firm had revenue of $123.97 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) EPS. Analysts expect that PAR Technology Corporation will post -0.16 EPS for the current year.

Analyst Upgrades and Downgrades

PAR has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their target price on PAR Technology from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. UBS Group set a $16.00 target price on shares of PAR Technology in a report on Tuesday, June 9th. Needham & Company LLC decreased their price objective on shares of PAR Technology from $30.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, April 9th. Jefferies Financial Group set a $18.00 target price on PAR Technology in a research note on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of PAR Technology in a research note on Friday, July 10th. Five 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.17.

Insiders Place Their Bets

In other PAR Technology news, major shareholder Voss Capital, Lp acquired 156,249 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was purchased at an average price of $14.85 per share, with a total value of $2,320,297.65. Following the transaction, the insider directly owned 5,125,000 shares in the company, valued at approximately $76,106,250. The trade was a 3.14% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cathy A. King sold 20,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.38, for a total value of $307,600.00. Following the completion of the sale, the insider owned 122,919 shares of the company’s stock, valued at $1,890,494.22. This trade represents a 13.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have bought 1,069,900 shares of company stock valued at $15,568,965. Insiders own 2.30% of the company’s stock.

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.