CenterBook Partners LP Has $2.44 Million Stake in PAR Technology Corporation $PAR

CenterBook Partners LP trimmed its position in shares of PAR Technology Corporation (NYSE:PAR) by 41.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 67,373 shares of the software maker’s stock after selling 47,108 shares during the period. CenterBook Partners LP’s holdings in PAR Technology were worth $2,444,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PAR. FNY Investment Advisers LLC purchased a new position in PAR Technology during the 3rd quarter valued at about $26,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of PAR Technology during the third quarter worth approximately $28,000. State of Wyoming purchased a new position in PAR Technology during the fourth quarter valued at approximately $34,000. Central Pacific Bank Trust Division grew its position in PAR Technology by 50.0% during the fourth quarter. Central Pacific Bank Trust Division now owns 3,000 shares of the software maker’s stock valued at $109,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in PAR Technology by 278.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,115 shares of the software maker’s stock valued at $216,000 after buying an additional 2,291 shares during the period.

Insider Buying and Selling at PAR Technology

In other news, major shareholder Voss Capital, Lp bought 594,900 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average price of $14.59 per share, with a total value of $8,679,591.00. Following the transaction, the insider directly owned 4,675,000 shares in the company, valued at approximately $68,208,250. The trade was a 14.58% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Cathy A. King sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $15.38, for a total value of $307,600.00. Following the completion of the sale, the insider directly owned 122,919 shares in the company, valued at approximately $1,890,494.22. This represents a 13.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

PAR has been the topic of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of PAR Technology in a report on Friday, March 27th. 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 research note on Friday, February 27th. Jefferies Financial Group set a $18.00 target price on PAR Technology in a research report on Saturday, May 9th. William Blair reiterated an “outperform” rating on shares of PAR Technology in a report on Friday, March 13th. Finally, The Goldman Sachs Group lowered their price target on PAR Technology from $40.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $25.78.

PAR Technology Stock Performance

PAR opened at $13.58 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.83 and a current ratio of 2.10. The company has a market cap of $560.13 million, a PE ratio of -7.26 and a beta of 1.35. The stock has a 50-day moving average of $14.05 and a 200-day moving average of $23.01. PAR Technology Corporation has a 52-week low of $11.59 and a 52-week high of $72.15.

PAR Technology (NYSE:PAR) last posted its 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 return on equity of 2.57% and a negative net margin of 16.04%.The firm had revenue of $123.97 million during the quarter, compared to analyst estimates of $116.88 million. During the same period in the previous year, the company earned ($0.01) EPS. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. As a group, equities research analysts forecast that PAR Technology Corporation will post -0.28 earnings per share for the current fiscal year.

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.