PAR Technology Corporation $PAR Shares Sold by Next Century Growth Investors LLC

Key Points

• Next Century Growth Investors LLC reduced its stake in PAR Technology by 3.4%, selling 17,734 shares and maintaining 500,820 shares in total, which represents 2.7% of their investment portfolio.
• PAR Technology's stock has demonstrated a 2.4% increase in value, closing at $52.33, while the company reported quarterly earnings of $0.03 per share, slightly below expectations.
• Investment analysts currently rate PAR Technology as a Moderate Buy, with an average price target of $78.43, indicating a positive outlook for the stock.

Next Century Growth Investors LLC decreased its holdings in PAR Technology Corporation (NYSE:PAR - Free Report) by 3.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 500,820 shares of the software maker's stock after selling 17,734 shares during the period. PAR Technology comprises 2.7% of Next Century Growth Investors LLC's portfolio, making the stock its 5th largest holding. Next Century Growth Investors LLC owned about 1.24% of PAR Technology worth $30,720,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. 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 valued at $1,257,000 after purchasing an additional 168 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of PAR Technology by 3.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,233 shares of the software maker's stock valued at $382,000 after buying an additional 234 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of PAR Technology by 7.8% in the 1st quarter. Victory Capital Management Inc. now owns 4,752 shares of the software maker's stock valued at $291,000 after buying an additional 343 shares in the last quarter. OneDigital Investment Advisors LLC grew its stake in shares of PAR Technology by 4.2% in the 1st quarter. OneDigital Investment Advisors LLC now owns 10,733 shares of the software maker's stock valued at $658,000 after buying an additional 432 shares in the last quarter. Finally, Assetmark Inc. grew 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 buying an additional 485 shares in the last quarter.

Wall Street Analyst Weigh In

PAR has been the subject of several recent research reports. The Goldman Sachs Group boosted their price target on PAR Technology from $57.00 to $65.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Needham & Company LLC reissued a "buy" rating and issued a $90.00 price target on shares of PAR Technology in a research note on Friday, July 11th. Benchmark lowered their price target on PAR Technology from $92.00 to $77.00 and set a "buy" rating for the company in a research note on Tuesday, August 19th. Finally, BTIG Research raised PAR Technology from a "neutral" rating to a "buy" rating and set a $65.00 price target for the company in a research note 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 data from MarketBeat, PAR Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.43.

PAR Technology Stock Performance

PAR Technology stock traded down $1.29 during trading hours on Monday, reaching $51.14. 520,346 shares of the company were exchanged, compared to its average volume of 1,144,236. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -22.73 and a beta of 1.64. 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 stock has a 50-day moving average of $61.74 and a 200 day moving average of $62.03. PAR Technology Corporation has a 12 month low of $46.24 and a 12 month high of $82.24.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). The company had revenue of $112.40 million for the quarter, compared to the consensus estimate of $111.02 million. PAR Technology had a negative return on equity of 3.16% and a negative net margin of 20.64%.The firm's revenue for the quarter was up 43.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.23) EPS. As a group, research analysts anticipate that PAR Technology Corporation will post -1.47 earnings per share 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.