Ewing Morris & Co. Investment Partners Ltd. Reduces Holdings in PAR Technology Corporation $PAR

Key Points

• Ewing Morris & Co. Investment Partners Ltd. reduced its stake in PAR Technology Corporation by 55.6%, ending the 1st quarter with 6,000 shares valued at $368,000.
• Institutional investors such as Caitong International and Versant Capital Management have vastly increased their holdings in PAR Technology, with percentage increases of 8,616.7% and 996.6%, respectively, during the same quarter.
• PAR Technology's stock has experienced a recent price target range from $65.00 to $90.00 from various analysts, with a consensus rating of "Moderate Buy" and an average target of $78.43.

Ewing Morris & Co. Investment Partners Ltd. cut its stake in shares of PAR Technology Corporation (NYSE:PAR - Free Report) by 55.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,000 shares of the software maker's stock after selling 7,500 shares during the quarter. Ewing Morris & Co. Investment Partners Ltd.'s holdings in PAR Technology were worth $368,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PAR. The Manufacturers Life Insurance Company raised its holdings in PAR Technology by 1.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 17,303 shares of the software maker's stock worth $1,257,000 after purchasing an additional 168 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of PAR Technology by 3.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,233 shares of the software maker's stock valued at $382,000 after purchasing an additional 234 shares during the period. Victory Capital Management Inc. grew its position in shares of PAR Technology by 7.8% in the 1st quarter. Victory Capital Management Inc. now owns 4,752 shares of the software maker's stock valued at $291,000 after purchasing an additional 343 shares during the period. OneDigital Investment Advisors LLC grew its position in shares of PAR Technology by 4.2% in the 1st quarter. OneDigital Investment Advisors LLC now owns 10,733 shares of the software maker's stock valued at $658,000 after purchasing an additional 432 shares during the period. Finally, Assetmark Inc. grew its position in shares of PAR Technology by 161.7% in the 1st quarter. Assetmark Inc. now owns 785 shares of the software maker's stock valued at $48,000 after purchasing an additional 485 shares during the period.

PAR Technology Trading Down 2.0%

PAR stock traded down $1.00 during mid-day trading on Thursday, reaching $48.13. The company's stock had a trading volume of 512,165 shares, compared to its average volume of 519,207. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -21.39 and a beta of 1.64. The business's 50 day moving average price is $60.74 and its 200 day moving average price is $61.73. The company has a current ratio of 1.70, a quick ratio of 1.49 and a debt-to-equity ratio of 0.43. PAR Technology Corporation has a 12 month low of $46.24 and a 12 month high of $82.24.

PAR Technology (NYSE:PAR - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The software maker reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $112.40 million for the quarter, compared to the consensus estimate of $111.02 million. PAR Technology had a negative net margin of 20.64% and a negative return on equity of 3.16%. The company's revenue was up 43.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.23) EPS. On average, equities research analysts predict that PAR Technology Corporation will post -1.47 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PAR shares. Benchmark reduced their price target on PAR Technology from $92.00 to $77.00 and set a "buy" rating for the company in a research report on Tuesday, August 19th. The Goldman Sachs Group upped their price objective on PAR Technology from $57.00 to $65.00 and gave the company a "neutral" rating in a report on Monday, May 12th. Needham & Company LLC reissued a "buy" rating and set a $90.00 target price on shares of PAR Technology in a report on Friday, July 11th. Finally, BTIG Research raised PAR Technology from a "neutral" rating to a "buy" rating and set a $65.00 price objective on the stock in a research note on Friday, August 15th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, PAR Technology currently has a consensus rating of "Moderate Buy" and an average target price of $78.43.

PAR Technology Company 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.