Legato Capital Management LLC Trims Position in PAR Technology Corporation (NYSE:PAR)

Legato Capital Management LLC trimmed its holdings in shares of PAR Technology Corporation (NYSE:PAR - Free Report) by 32.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,930 shares of the software maker's stock after selling 5,145 shares during the period. Legato Capital Management LLC's holdings in PAR Technology were worth $670,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. GW&K Investment Management LLC purchased a new position in shares of PAR Technology during the 1st quarter worth approximately $24,018,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of PAR Technology during the 1st quarter worth approximately $744,000. Victory Capital Management Inc. raised its stake in shares of PAR Technology by 7.8% during the 1st quarter. Victory Capital Management Inc. now owns 4,752 shares of the software maker's stock worth $291,000 after buying an additional 343 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in shares of PAR Technology by 11.6% during the 1st quarter. TimesSquare Capital Management LLC now owns 453,925 shares of the software maker's stock worth $27,844,000 after buying an additional 47,340 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in PAR Technology by 48.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 44,673 shares of the software maker's stock valued at $2,740,000 after purchasing an additional 14,496 shares in the last quarter.

PAR Technology Price Performance

NYSE:PAR traded up $0.14 during trading hours on Monday, reaching $68.40. 29,592 shares of the company traded hands, compared to its average volume of 428,051. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.05 and a quick ratio of 1.83. The firm's 50-day moving average is $67.01 and its 200-day moving average is $64.95. The stock has a market cap of $2.77 billion, a P/E ratio of -526.14 and a beta of 1.69. 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 issued its quarterly earnings data on Friday, May 9th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04. The business had revenue of $103.86 million for the quarter, compared to the consensus estimate of $105.16 million. PAR Technology had a negative return on equity of 3.90% and a negative net margin of 2.88%. The business's revenue was up 48.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.36) earnings per share. Equities research analysts expect that PAR Technology Corporation will post -1.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PAR. Needham & Company LLC reaffirmed a "buy" rating and issued a $90.00 price objective on shares of PAR Technology in a research note on Friday, July 11th. The Goldman Sachs Group raised their price objective on PAR Technology from $57.00 to $65.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $79.86.

Insiders Place Their Bets

In other PAR Technology news, Director Douglas Gregory Rauch sold 1,000 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $69.98, for a total transaction of $69,980.00. Following the sale, the director directly owned 11,760 shares of the company's stock, valued at $822,964.80. This trade represents a 7.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.70% of the company's stock.

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.