Visionary Wealth Advisors Makes New $6.84 Million Investment in PAR Technology Corporation $PAR

Visionary Wealth Advisors bought a new stake in PAR Technology Corporation (NYSE:PAR) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 392,907 shares of the software maker’s stock, valued at approximately $6,844,000.

A number of other hedge funds have also made changes to their positions in the company. Stephens Investment Management Group LLC boosted its position in shares of PAR Technology by 77.9% in the 4th quarter. Stephens Investment Management Group LLC now owns 282,790 shares of the software maker’s stock worth $10,260,000 after buying an additional 123,831 shares in the last quarter. Reinhart Partners LLC. increased its holdings in PAR Technology by 45.6% during the 4th quarter. Reinhart Partners LLC. now owns 1,309,860 shares of the software maker’s stock valued at $47,522,000 after acquiring an additional 410,183 shares in the last quarter. Rock Creek Group LP increased its holdings in PAR Technology by 316.7% during the 4th quarter. Rock Creek Group LP now owns 250,000 shares of the software maker’s stock valued at $9,070,000 after acquiring an additional 190,000 shares in the last quarter. Progeny 3 Inc. raised its position in PAR Technology by 5.6% during the first quarter. Progeny 3 Inc. now owns 2,170,808 shares of the software maker’s stock worth $28,937,000 after acquiring an additional 114,500 shares during the last quarter. Finally, Rice Hall James & Associates LLC acquired a new position in PAR Technology during the second quarter worth about $6,601,000.

PAR Technology Price Performance

PAR Technology stock opened at $19.39 on Tuesday. The stock has a market capitalization of $801.95 million, a P/E ratio of -11.02 and a beta of 1.33. PAR Technology Corporation has a 12-month low of $11.59 and a 12-month high of $54.44. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.21 and a quick ratio of 1.89. The firm’s 50-day moving average is $17.15 and its two-hundred day moving average is $16.29.

PAR Technology (NYSE:PAR) last posted its quarterly earnings data on Thursday, August 6th. The software maker reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.06. The business had revenue of $133.41 million during the quarter, compared to analyst estimates of $124.66 million. PAR Technology had a negative net margin of 14.52% and a negative return on equity of 1.62%. The company’s revenue was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 earnings per share. Equities analysts predict that PAR Technology Corporation will post -0.13 earnings per share for the current year.

Insiders Place Their Bets

In other PAR Technology news, Director Narinder Singh purchased 11,518 shares of PAR Technology stock in a transaction on Wednesday, August 12th. The shares were bought at an average price of $17.36 per share, with a total value of $199,952.48. Following the purchase, the director directly owned 38,527 shares in the company, valued at $668,828.72. This trade represents a 42.65% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Voss Capital, Lp acquired 156,249 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were acquired at an average price of $14.85 per share, for a total transaction of $2,320,297.65. Following the acquisition, the insider directly owned 5,125,000 shares of the company’s stock, valued at approximately $76,106,250. The trade was a 3.14% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 361,518 shares of company stock valued at $5,261,827. Company insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PAR. Jefferies Financial Group set a $18.00 price target on shares of PAR Technology in a research report on Saturday, May 9th. Weiss Ratings restated a “sell (e+)” rating on shares of PAR Technology in a research report on Friday, July 10th. Royal Bank Of Canada set a $16.00 target price on PAR Technology in a research note on Tuesday, June 9th. BTIG Research lowered their target price on PAR Technology from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Finally, JPMorgan Chase & Co. raised their price target on PAR Technology from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.61.

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.