ABS Direct Equity Fund LLC Sells 5,000 Shares of PAR Technology Co. (NYSE:PAR)

ABS Direct Equity Fund LLC trimmed its stake in shares of PAR Technology Co. (NYSE:PAR - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,000 shares of the software maker's stock after selling 5,000 shares during the period. PAR Technology accounts for 5.3% of ABS Direct Equity Fund LLC's holdings, making the stock its 3rd biggest position. ABS Direct Equity Fund LLC owned about 0.16% of PAR Technology worth $3,987,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Aster Capital Management DIFC Ltd purchased a new stake in PAR Technology during the 4th quarter worth approximately $28,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of PAR Technology during the fourth quarter worth approximately $29,000. Versant Capital Management Inc raised its stake in PAR Technology by 996.6% in the 1st quarter. Versant Capital Management Inc now owns 647 shares of the software maker's stock valued at $40,000 after purchasing an additional 588 shares during the last quarter. NBC Securities Inc. acquired a new position in PAR Technology in the 1st quarter valued at $40,000. Finally, GAMMA Investing LLC lifted its holdings in 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 in the last quarter.

Wall Street Analyst Weigh In

PAR has been the topic of several research reports. Citigroup reissued a "neutral" rating on shares of PAR Technology in a research note on Friday, February 28th. Needham & Company LLC reaffirmed a "buy" rating and issued a $90.00 price target on shares of PAR Technology in a report on Monday, May 12th. Wall Street Zen raised PAR Technology to a "sell" rating in a research note on Monday, March 3rd. Stephens reaffirmed an "overweight" rating and issued a $90.00 target price on shares of PAR Technology in a research note on Friday, February 28th. Finally, Benchmark reissued a "buy" rating on shares of PAR Technology in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, PAR Technology has a consensus rating of "Moderate Buy" and a consensus price target of $79.86.

Insider Activity

In related news, Director Douglas Gregory Rauch sold 1,000 shares of the 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 transaction, the director now owns 11,760 shares of the company's stock, valued at $822,964.80. This represents a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 3.70% of the company's stock.

PAR Technology Trading Down 2.4%

Shares of PAR stock traded down $1.53 during trading hours on Friday, hitting $62.10. The company had a trading volume of 278,131 shares, compared to its average volume of 432,737. PAR Technology Co. has a fifty-two week low of $41.86 and a fifty-two week high of $82.24. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.13 and a quick ratio of 1.91. The company's fifty day moving average is $62.27 and its 200 day moving average is $66.64. The stock has a market capitalization of $2.51 billion, a PE ratio of -248.39 and a beta of 1.70.

PAR Technology (NYSE:PAR - Get Free Report) last announced its earnings results on Friday, May 9th. The software maker reported ($0.01) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.04. The company 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 8.99% and a negative net margin of 0.66%. PAR Technology's revenue for the quarter was up 48.2% on a year-over-year basis. During the same period last year, the business posted ($0.36) EPS. Research analysts expect that PAR Technology Co. will post -1.47 earnings per share for the current fiscal year.

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.