According to Zacks, “PAR TECHNOLOGY CORP. designs, develops, manufactures, markets, installs, and services microprocessor- based transaction processing systems for the restaurant and industrial market-places, Corneal Topography systems for measuring the true topography of the eye and vision inspection systems for the food-processing industry (Commercial Segment). Co. is also engaged in the design and implementation of advanced-technology computer software systems, for the Department of Defense and other Government agencies (Government Segment). “
Several other brokerages also recently commented on PAR. Sidoti raised PAR Technology from a “neutral” rating to a “buy” rating in a report on Friday, July 26th. ValuEngine raised PAR Technology from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $31.50.
PAR Technology (NYSE:PAR) last announced its earnings results on Thursday, November 7th. The software maker reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.15). The business had revenue of $45.38 million during the quarter, compared to analyst estimates of $45.08 million. PAR Technology had a negative return on equity of 19.16% and a negative net margin of 14.68%. On average, equities analysts forecast that PAR Technology will post -0.73 EPS for the current year.
In related news, Director John W. Sammon, Jr. sold 1,354 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $23.01, for a total value of $31,155.54. Following the completion of the transaction, the director now owns 2,524,153 shares in the company, valued at approximately $58,080,760.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Sammon, Jr. sold 5,773 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $23.14, for a total transaction of $133,587.22. Following the completion of the transaction, the director now owns 2,567,985 shares of the company’s stock, valued at approximately $59,423,172.90. The disclosure for this sale can be found here. Insiders sold a total of 106,570 shares of company stock worth $2,470,714 over the last three months. 30.00% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of PAR. Castleark Management LLC bought a new position in PAR Technology in the 2nd quarter worth approximately $5,632,000. 3G Capital Partners LP bought a new position in PAR Technology in the 2nd quarter worth approximately $5,149,000. PenderFund Capital Management Ltd. bought a new position in PAR Technology in the 2nd quarter worth approximately $3,645,000. Rock Creek Group LP bought a new position in PAR Technology in the 2nd quarter worth approximately $3,525,000. Finally, Cadence Capital Management LLC bought a new position in PAR Technology in the 2nd quarter worth approximately $2,750,000. Hedge funds and other institutional investors own 56.34% of the company’s stock.
About PAR Technology
PAR Technology Corporation, together with its subsidiaries, provides management technology solutions worldwide. The company operates through two segments, Restaurant/Retail and Government. The Restaurant/Retail segment offers point-of-sale (POS) technology solutions, including cloud-based, software-as-a-service Brink and on-premise POS PixelPoint solutions, and its POS hardware platforms, as well as installation, technical, and maintenance support services.
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