LPL Financial LLC Has $5.10 Million Stock Holdings in PAR Technology Corporation (NYSE:PAR)

Key Points

• LPL Financial LLC reduced its stake in PAR Technology Corporation by 6.6% in the first quarter, owning 83,099 shares valued at approximately $5.1 million.
• Despite a slight earnings miss in the most recent quarter, PAR Technology's revenue grew by 43.8% compared to the same period last year, reaching $112.4 million.
• PAR Technology stock received a "buy" rating from Needham & Company with a price target of $90.00, while Goldman Sachs updated their rating to "neutral" with a target of $65.00.

LPL Financial LLC cut its stake in PAR Technology Corporation (NYSE:PAR - Free Report) by 6.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,099 shares of the software maker's stock after selling 5,892 shares during the period. LPL Financial LLC owned approximately 0.21% of PAR Technology worth $5,097,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Versant Capital Management Inc grew its position in PAR Technology by 996.6% during the 1st quarter. Versant Capital Management Inc now owns 647 shares of the software maker's stock worth $40,000 after acquiring an additional 588 shares during the last quarter. NBC Securities Inc. acquired a new position in PAR Technology during the 1st quarter worth about $40,000. GAMMA Investing LLC lifted its stake in shares of PAR Technology by 232.4% in the 1st quarter. GAMMA Investing LLC now owns 698 shares of the software maker's stock valued at $43,000 after purchasing an additional 488 shares during the period. Assetmark Inc. lifted its stake in shares of PAR Technology by 161.7% in the 1st quarter. Assetmark Inc. now owns 785 shares of the software maker's stock valued at $48,000 after purchasing an additional 485 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in shares of PAR Technology by 8,631.3% in the 1st quarter. Farther Finance Advisors LLC now owns 1,397 shares of the software maker's stock valued at $86,000 after purchasing an additional 1,381 shares during the period.

PAR Technology Stock Up 4.9%

PAR stock opened at $51.43 on Thursday. The stock's 50 day simple moving average is $64.66 and its 200 day simple moving average is $63.73. PAR Technology Corporation has a fifty-two week low of $46.24 and a fifty-two week high of $82.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.83 and a current ratio of 1.70. The company has a market cap of $2.09 billion, a P/E ratio of -22.86 and a beta of 1.70.

PAR Technology (NYSE:PAR - Get Free Report) last posted its quarterly earnings results 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 return on equity of 3.16% and a negative net margin of 20.64%. The firm had revenue of $112.40 million for the quarter, compared to analyst estimates of $111.02 million. During the same period last year, the company posted ($0.23) earnings per share. The firm's quarterly revenue was up 43.8% compared to the same quarter last year. On average, research analysts expect that PAR Technology Corporation will post -1.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PAR has been the topic of a number of recent analyst reports. Needham & Company LLC reissued 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 boosted 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 equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $83.17.

Insiders Place Their Bets

In other PAR Technology news, Director Douglas Gregory Rauch sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $69.98, for a total transaction of $69,980.00. Following the completion of the sale, the director directly owned 11,760 shares of the company's stock, valued at approximately $822,964.80. The trade was a 7.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company 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.

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