PAR - PAR Technology: On A Path To Market Dominance

2024-04-24 05:03:11 ET

Summary

• Winning Burger King is a significant milestone for PAR, which would only allow for more tier-1 operators to adopt Brink.
• Strategic acquisitions of TASK and Stuzo allow PAR to tap into new verticals and enable cross-selling opportunities.
• PAR should trade at a premium over peers, and my valuation tells me PAR reasonably valued.
• I rate PAR as a buy.

Overview and Investment Thesis

PAR Technology ( PAR ) has 2 primary businesses: the software business called Brink, an enterprise-grade cloud-based POS system provider and market leader in the restaurant industry, and its legacy defense contracting business. In this article, the focus of my analysis will be on its POS business....

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