Gamco Investors INC. ET AL Decreases Stake in PAR Technology Corporation $PAR

Key Points

• Gamco Investors INC. ET AL has reduced its holdings in PAR Technology Corporation by 9%, now owning approximately $11.52 million worth of shares.
• Several institutional investors significantly increased their stakes in PAR Technology, with Caitong International Asset Management growing its stake by 8,616.7% during the same quarter.
• PAR Technology reported earnings per share of $0.03, missing analyst expectations, while revenue increased by 43.8% compared to the previous year.

Gamco Investors INC. ET AL cut its position in shares of PAR Technology Corporation (NYSE:PAR - Free Report) by 9.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 187,871 shares of the software maker's stock after selling 18,601 shares during the period. Gamco Investors INC. ET AL owned approximately 0.46% of PAR Technology worth $11,524,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its position in shares of PAR Technology by 8,616.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the software maker's stock valued at $32,000 after acquiring an additional 517 shares during the last quarter. Versant Capital Management Inc increased its position in shares of PAR Technology by 996.6% during the first quarter. Versant Capital Management Inc now owns 647 shares of the software maker's stock valued at $40,000 after acquiring an additional 588 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of PAR Technology during the first quarter valued at about $40,000. GAMMA Investing LLC increased its position in shares of PAR Technology by 232.4% during the first quarter. GAMMA Investing LLC now owns 698 shares of the software maker's stock valued at $43,000 after acquiring an additional 488 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of PAR Technology by 161.7% during the first quarter. Assetmark Inc. now owns 785 shares of the software maker's stock valued at $48,000 after acquiring an additional 485 shares during the last quarter.

PAR Technology Stock Down 2.5%

Shares of PAR stock traded down $1.29 during trading on Monday, reaching $51.14. The company's stock had a trading volume of 520,346 shares, compared to its average volume of 1,144,236. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.70 and a quick ratio of 1.49. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of -22.73 and a beta of 1.64. The stock's 50-day moving average price is $61.74 and its 200 day moving average price is $62.03. PAR Technology Corporation has a 1-year low of $46.24 and a 1-year high of $82.24.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on PAR. The Goldman Sachs Group lifted their price target on shares of PAR Technology from $57.00 to $65.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Needham & Company LLC reiterated a "buy" rating and set a $90.00 price target on shares of PAR Technology in a research report on Friday, July 11th. Benchmark dropped their price objective on shares of PAR Technology from $92.00 to $77.00 and set a "buy" rating for the company in a report on Tuesday, August 19th. Finally, BTIG Research upgraded shares of PAR Technology from a "neutral" rating to a "buy" rating and set a $65.00 price objective for the company in a report 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $78.43.

About PAR Technology

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.