Cannell & Spears LLC Sells 73,214 Shares of PAR Technology Corporation $PAR

Cannell & Spears LLC lessened its stake in shares of PAR Technology Corporation (NYSE:PAR) by 36.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 125,582 shares of the software maker’s stock after selling 73,214 shares during the period. Cannell & Spears LLC’s holdings in PAR Technology were worth $1,668,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Greenstone Partners & Co. LLC purchased a new position in PAR Technology in the fourth quarter valued at about $36,981,000. Bandera Partners LLC purchased a new stake in shares of PAR Technology during the 1st quarter worth approximately $9,331,000. Renaissance Technologies LLC purchased a new stake in shares of PAR Technology during the 1st quarter worth approximately $5,508,000. Reinhart Partners LLC. raised 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 purchasing an additional 410,183 shares during the period. Finally, Progeny 3 Inc. raised its holdings in shares of PAR Technology by 18.7% in the 4th 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.

Analysts Set New Price Targets

PAR has been the topic of several research analyst reports. Jefferies Financial Group set a $18.00 price objective on PAR Technology in a research note on Saturday, May 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of PAR Technology in a research report on Friday, July 10th. JPMorgan Chase & Co. boosted their target price on PAR Technology from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. Royal Bank Of Canada set a $16.00 price target on PAR Technology in a research report on Tuesday, June 9th. Finally, The Goldman Sachs Group increased their price target on PAR Technology from $18.00 to $20.50 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $26.17.

PAR Technology Stock Performance

Shares of PAR stock opened at $15.42 on Friday. The stock has a market capitalization of $635.91 million, a P/E ratio of -8.24 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. The firm’s 50 day moving average is $15.71 and its 200 day moving average is $18.65. PAR Technology Corporation has a 12 month low of $11.59 and a 12 month high of $68.98.

PAR Technology (NYSE:PAR) last released its quarterly earnings data on Thursday, May 7th. The software maker reported $0.10 EPS 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 company had revenue of $123.97 million during the quarter, compared to the consensus estimate of $116.88 million. During the same period last year, the firm earned ($0.01) EPS. PAR Technology’s revenue for the quarter was up 19.4% on a year-over-year basis. On average, sell-side analysts anticipate that PAR Technology Corporation will post -0.16 earnings per share for the current year.

Insider Transactions at PAR Technology

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

PAR Technology Company 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.