Hsbc Holdings PLC Buys New Stake in PAR Technology Corporation $PAR

Hsbc Holdings PLC purchased a new stake in PAR Technology Corporation (NYSE:PAR) during the second quarter, HoldingsChannel.com reports. The fund purchased 74,646 shares of the software maker’s stock, valued at approximately $1,308,000.

A number of other institutional investors also recently bought and sold shares of the business. Manatuck Hill Partners LLC acquired a new position in shares of PAR Technology during the 2nd quarter worth about $1,348,000. Legal & General Group Plc acquired a new stake in shares of PAR Technology during the 2nd quarter worth about $442,000. The Manufacturers Life Insurance Company acquired a new stake in shares of PAR Technology during the 2nd quarter worth about $195,000. Visionary Wealth Advisors purchased a new stake in PAR Technology during the second quarter worth approximately $6,844,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in PAR Technology during the second quarter worth approximately $484,000.

PAR Technology Stock Down 1.8%

PAR Technology stock opened at $18.81 on Tuesday. PAR Technology Corporation has a fifty-two week low of $11.59 and a fifty-two week high of $52.98. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.89 and a current ratio of 2.21. The company has a market capitalization of $777.98 million, a P/E ratio of -10.69 and a beta of 1.33. The stock has a 50-day simple moving average of $17.57 and a 200-day simple moving average of $16.17.

PAR Technology (NYSE:PAR) last released its quarterly earnings results on Thursday, August 6th. The software maker reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.06. The firm had revenue of $133.41 million for the quarter, compared to the consensus estimate of $124.66 million. PAR Technology had a negative return on equity of 1.62% and a negative net margin of 14.52%.The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 EPS. Equities research analysts expect that PAR Technology Corporation will post -0.13 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on PAR. The Goldman Sachs Group upped their price target on PAR Technology from $18.00 to $20.50 and gave the company a “neutral” rating in a report on Thursday, July 9th. UBS Group set a $16.00 price objective on shares of PAR Technology in a report on Tuesday, June 9th. BTIG Research reduced their price objective on shares of PAR Technology from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Weiss Ratings upgraded shares of PAR Technology from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. Finally, Royal Bank Of Canada set a $16.00 target price on shares of PAR Technology in a research report on Tuesday, June 9th. Five investment 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 currently has an average rating of “Moderate Buy” and a consensus target price of $24.61.

Insider Buying and Selling at PAR Technology

In other PAR Technology news, Director Narinder Singh purchased 11,518 shares of PAR Technology stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average price of $17.36 per share, for a total transaction of $199,952.48. Following the transaction, the director directly owned 38,527 shares in the company, valued at $668,828.72. This trade represents a 42.65% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Voss Capital, Lp bought 156,249 shares of PAR Technology stock in a transaction dated Friday, June 12th. The stock was acquired at an average cost of $14.85 per share, with a total value of $2,320,297.65. Following the completion of 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 position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 361,518 shares of company stock valued at $5,261,827. 2.30% of the stock is owned by insiders.

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.