PAR Technology Corporation $PAR Shares Sold by Granahan Investment Management LLC

Key Points

• Granahan Investment Management LLC reduced its position in PAR Technology Corporation by 3.3%, owning 336,573 shares valued at approximately $20.65 million.
• PAR Technology reported $0.03 EPS for the last quarter, falling short of expectations, despite a 43.8% increase in revenue year-over-year.
• Several analysts maintain a buy rating on PAR Technology stock, with target prices ranging from $65.00 to $90.00, reflecting a consensus target price of about $78.43.

Granahan Investment Management LLC decreased its holdings in shares of PAR Technology Corporation (NYSE:PAR - Free Report) by 3.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 336,573 shares of the software maker's stock after selling 11,343 shares during the period. PAR Technology accounts for 1.0% of Granahan Investment Management LLC's portfolio, making the stock its 25th largest position. Granahan Investment Management LLC owned approximately 0.83% of PAR Technology worth $20,645,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its position in PAR Technology by 3.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 28,375 shares of the software maker's stock worth $2,063,000 after purchasing an additional 855 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of PAR Technology by 1.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 17,303 shares of the software maker's stock worth $1,257,000 after buying an additional 168 shares during the last quarter. Northern Trust Corp increased its holdings in shares of PAR Technology by 7.4% in the 4th quarter. Northern Trust Corp now owns 352,079 shares of the software maker's stock worth $25,586,000 after buying an additional 24,248 shares during the last quarter. Ameriprise Financial Inc. bought a new position in PAR Technology during the 4th quarter valued at about $350,000. Finally, Balyasny Asset Management L.P. grew its holdings in PAR Technology by 16.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 40,793 shares of the software maker's stock valued at $2,964,000 after purchasing an additional 5,862 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have commented on PAR. Benchmark dropped their target price on shares of PAR Technology from $92.00 to $77.00 and set a "buy" rating on the stock in a research note on Tuesday, August 19th. Needham & Company LLC restated a "buy" rating and issued a $90.00 target price on shares of PAR Technology in a research note on Friday, July 11th. Finally, BTIG Research raised shares of PAR Technology from a "neutral" rating to a "buy" rating and set a $65.00 price target for the company in a research report on Friday, August 15th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $78.43.

PAR Technology Stock Down 1.6%

NYSE:PAR traded down $0.74 during midday trading on Wednesday, reaching $46.12. 387,066 shares of the stock traded hands, compared to its average volume of 526,878. PAR Technology Corporation has a 12-month low of $45.87 and a 12-month high of $82.24. The business has a 50-day moving average of $59.12 and a two-hundred day moving average of $61.20. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.49 and a current ratio of 1.70. The stock has a market capitalization of $1.87 billion, a PE ratio of -20.55 and a beta of 1.64.

PAR Technology (NYSE:PAR - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The software maker reported $0.03 earnings per share (EPS) 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 company had revenue of $112.40 million for the quarter, compared to analyst estimates of $111.02 million. During the same quarter in the previous year, the company posted ($0.23) EPS. The company's revenue for the quarter was up 43.8% compared to the same quarter last year. On average, equities analysts forecast that PAR Technology Corporation will post -1.47 earnings per share for the current fiscal year.

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.