Cushing Capital Partners LLC Sells 14,502 Shares of PAR Technology Corporation (NYSE:PAR)

Cushing Capital Partners LLC cut its holdings in PAR Technology Corporation (NYSE:PAR - Free Report) by 79.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,661 shares of the software maker's stock after selling 14,502 shares during the quarter. Cushing Capital Partners LLC's holdings in PAR Technology were worth $225,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new stake in PAR Technology during the 4th quarter valued at $1,796,000. Ameriprise Financial Inc. purchased a new stake in PAR Technology during the 4th quarter valued at $350,000. Deutsche Bank AG raised its stake in PAR Technology by 97.2% during the 4th quarter. Deutsche Bank AG now owns 38,863 shares of the software maker's stock valued at $2,824,000 after buying an additional 19,159 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in PAR Technology during the 4th quarter valued at $205,000. Finally, LPL Financial LLC raised its stake in PAR Technology by 201.4% during the 4th quarter. LPL Financial LLC now owns 88,991 shares of the software maker's stock valued at $6,467,000 after buying an additional 59,469 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PAR shares. Citigroup reiterated a "neutral" rating on shares of PAR Technology in a research note on Friday, February 28th. Needham & Company LLC reiterated a "buy" rating and set a $90.00 target price on shares of PAR Technology in a research note on Monday, May 12th. Stephens restated an "overweight" rating and issued a $90.00 price objective on shares of PAR Technology in a research note on Friday, February 28th. Wall Street Zen upgraded PAR Technology to a "sell" rating in a research note on Monday, March 3rd. Finally, Craig Hallum restated a "buy" rating on shares of PAR Technology in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.86.

PAR Technology Stock Performance

Shares of NYSE:PAR traded up $0.80 during midday trading on Thursday, hitting $62.96. The company had a trading volume of 370,389 shares, compared to its average volume of 433,711. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.05 and a quick ratio of 1.83. The company has a market cap of $2.55 billion, a price-to-earnings ratio of -484.31 and a beta of 1.70. PAR Technology Corporation has a 12-month low of $41.86 and a 12-month high of $82.24. The company has a fifty day moving average of $62.87 and a two-hundred day moving average of $66.25.

PAR Technology (NYSE:PAR - Get Free Report) last issued its earnings results on Friday, May 9th. The software maker reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.04. The company had revenue of $103.86 million during the quarter, compared to the consensus estimate of $105.16 million. PAR Technology had a negative net margin of 2.88% and a negative return on equity of 3.90%. PAR Technology's quarterly revenue was up 48.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.36) EPS. On average, equities research analysts expect that PAR Technology Corporation will post -1.47 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Douglas Gregory Rauch sold 1,000 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $69.98, for a total value of $69,980.00. Following the completion of the transaction, the director now owns 11,760 shares of the company's stock, valued at approximately $822,964.80. This represents a 7.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 3.70% of the stock is currently owned by insiders.

PAR Technology Profile

PAR Technology Corporation, together with its subsidiaries, provides omnichannel cloud-based hardware and software solutions to the restaurant and retail industries worldwide. The Restaurant/Retail segment offers PUNCHH, an enterprise-grade customer loyalty and engagement solution; MENU, an eCommerce platform for restaurant brands; BRINK POS, an open cloud, point-of-sale solution; PAR PAYMENT SERVICES, a merchant services business that enables electronic payment and processing services for businesses; and DATA CENTRAL, a back-office solution that leverages business intelligence and automation technologies.