PAR Technology Corporation $PAR Shares Sold by Gamco Investors INC. ET AL

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

Several other institutional investors also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new stake in PAR Technology in the 4th quarter valued at about $2,067,000. CANADA LIFE ASSURANCE Co grew its stake in PAR Technology by 9.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 10,909 shares of the software maker's stock worth $792,000 after purchasing an additional 953 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in PAR Technology by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 660,496 shares of the software maker's stock worth $48,000,000 after purchasing an additional 26,008 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of PAR Technology by 171.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,308 shares of the software maker's stock worth $386,000 after buying an additional 3,350 shares during the period. Finally, Hsbc Holdings PLC bought a new position in shares of PAR Technology during the 4th quarter worth $539,000.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PAR shares. BTIG Research upgraded 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. The Goldman Sachs Group boosted their price target on shares of 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 reiterated a "buy" rating and set a $90.00 price objective on shares of PAR Technology in a research note on Friday, July 11th. Finally, Benchmark cut their price objective on shares of PAR Technology from $92.00 to $77.00 and set a "buy" rating on the stock in a report on Tuesday, August 19th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $78.43.

PAR Technology Stock Down 2.5%

Shares of PAR stock traded down $1.29 during trading hours on Friday, reaching $51.14. 520,346 shares of the company's stock were exchanged, compared to its average volume of 1,140,368. PAR Technology Corporation has a fifty-two week low of $46.24 and a fifty-two week high of $82.24. The stock's 50 day moving average is $61.74 and its 200-day moving average is $62.11. The company has a current ratio of 1.70, a quick ratio of 1.49 and a debt-to-equity ratio of 0.43. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -22.73 and a beta of 1.70.

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

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.