Greenhaven Road Investment Management L.P. Trims Holdings in PAR Technology Corporation (NYSE:PAR)

Greenhaven Road Investment Management L.P. lessened its position in shares of PAR Technology Corporation (NYSE:PAR - Free Report) by 6.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,007,289 shares of the software maker's stock after selling 70,969 shares during the period. PAR Technology accounts for 25.2% of Greenhaven Road Investment Management L.P.'s holdings, making the stock its biggest holding. Greenhaven Road Investment Management L.P. owned about 2.49% of PAR Technology worth $61,787,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Invesco Ltd. increased its stake in PAR Technology by 100.9% in the fourth quarter. Invesco Ltd. now owns 1,283,978 shares of the software maker's stock valued at $93,307,000 after purchasing an additional 644,920 shares in the last quarter. Reinhart Partners LLC. increased its stake in PAR Technology by 15.0% in the first quarter. Reinhart Partners LLC. now owns 858,843 shares of the software maker's stock valued at $52,681,000 after purchasing an additional 112,183 shares in the last quarter. Dimensional Fund Advisors LP increased 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 valued at $48,000,000 after purchasing an additional 26,008 shares in the last quarter. Next Century Growth Investors LLC increased its stake in PAR Technology by 15.7% in the fourth quarter. Next Century Growth Investors LLC now owns 518,554 shares of the software maker's stock valued at $37,683,000 after purchasing an additional 70,386 shares in the last quarter. Finally, Loomis Sayles & Co. L P bought a new stake in PAR Technology in the fourth quarter valued at $33,011,000.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PAR shares. Needham & Company LLC reissued a "buy" rating and set a $90.00 target price on shares of PAR Technology in a research report on Friday, July 11th. The Goldman Sachs Group boosted their target price on shares of PAR Technology from $57.00 to $65.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $79.86.

Insider Activity at PAR Technology

In other news, Director Douglas Gregory Rauch sold 1,000 shares of the 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 transaction, the director owned 11,760 shares of the company's stock, valued at $822,964.80. This represents a 7.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.70% of the stock is owned by insiders.

PAR Technology Stock Performance

Shares of PAR stock traded up $0.56 during trading on Tuesday, reaching $70.72. 121,289 shares of the company's stock traded hands, compared to its average volume of 430,829. The company has a market capitalization of $2.86 billion, a P/E ratio of -544.00 and a beta of 1.69. The company has a current ratio of 2.05, a quick ratio of 1.83 and a debt-to-equity ratio of 0.46. The firm's 50-day moving average is $67.01 and its 200 day moving average is $64.96. PAR Technology Corporation has a 1 year low of $43.50 and a 1 year high of $82.24.

PAR Technology (NYSE:PAR - Get Free Report) last posted its earnings results on Friday, May 9th. The software maker reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.04. The business had revenue of $103.86 million for the quarter, compared to analyst estimates 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 revenue was up 48.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.36) EPS. Equities research analysts expect that PAR Technology Corporation will post -1.47 EPS for the current 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.