ABS Direct Equity Fund LLC Decreases Stake in PAR Technology Corporation (NYSE:PAR)

ABS Direct Equity Fund LLC lessened its holdings in shares of PAR Technology Corporation (NYSE:PAR - Free Report) by 7.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,000 shares of the software maker's stock after selling 5,000 shares during the quarter. PAR Technology makes up approximately 5.3% of ABS Direct Equity Fund LLC's investment portfolio, making the stock its 3rd largest position. ABS Direct Equity Fund LLC owned approximately 0.16% of PAR Technology worth $3,987,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PAR. Invesco Ltd. boosted its stake in shares of PAR Technology by 100.9% during the 4th quarter. Invesco Ltd. now owns 1,283,978 shares of the software maker's stock worth $93,307,000 after acquiring an additional 644,920 shares during the period. Loomis Sayles & Co. L P acquired a new stake in PAR Technology during the 4th quarter valued at $33,011,000. Hood River Capital Management LLC bought a new position in PAR Technology during the fourth quarter worth $30,392,000. Nuveen Asset Management LLC increased its holdings in shares of PAR Technology by 194.2% in the fourth quarter. Nuveen Asset Management LLC now owns 400,251 shares of the software maker's stock valued at $29,086,000 after purchasing an additional 264,188 shares during the last quarter. Finally, Granahan Investment Management LLC increased its holdings in shares of PAR Technology by 115.5% in the fourth quarter. Granahan Investment Management LLC now owns 347,916 shares of the software maker's stock valued at $25,283,000 after purchasing an additional 186,490 shares during the last quarter.

PAR Technology Stock Performance

Shares of PAR traded up $0.80 during mid-day trading on Wednesday, hitting $62.96. 370,389 shares of the company's stock were exchanged, compared to its average volume of 433,429. The company has a quick ratio of 1.83, a current ratio of 2.05 and a debt-to-equity ratio of 0.46. PAR Technology Corporation has a 52 week low of $41.86 and a 52 week high of $82.24. The stock's 50-day simple moving average is $62.60 and its 200-day simple moving average is $66.39. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of -484.31 and a beta of 1.70.

PAR Technology (NYSE:PAR - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The software maker reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.04. The firm had revenue of $103.86 million during the quarter, compared to analysts' expectations of $105.16 million. PAR Technology had a negative return on equity of 3.90% and a negative net margin of 2.88%. The company's quarterly revenue was up 48.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.36) EPS. On average, equities research analysts expect that PAR Technology Corporation will post -1.47 EPS for the current year.

Insider Activity at PAR Technology

In other PAR Technology news, Director Douglas Gregory Rauch sold 1,000 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $69.98, for a total value of $69,980.00. Following the sale, the director now owns 11,760 shares of the company's stock, valued at approximately $822,964.80. This trade represents a 7.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Craig Hallum restated a "buy" rating on shares of PAR Technology in a research note on Friday, February 28th. Benchmark restated a "buy" rating on shares of PAR Technology in a research report on Friday, February 28th. Wall Street Zen raised PAR Technology to a "sell" rating in a research report on Monday, March 3rd. Stephens reiterated an "overweight" rating and set a $90.00 target price on shares of PAR Technology in a research note on Friday, February 28th. Finally, Citigroup reissued a "neutral" rating on shares of PAR Technology in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $79.86.

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.