Norwood Investment Partners LP lessened its stake in PAR Technology Corporation (NYSE:PAR - Free Report) by 17.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 165,800 shares of the software maker's stock after selling 35,000 shares during the quarter. PAR Technology comprises about 9.1% of Norwood Investment Partners LP's investment portfolio, making the stock its 5th largest holding. Norwood Investment Partners LP owned about 0.41% of PAR Technology worth $10,170,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. GW&K Investment Management LLC acquired a new position in shares of PAR Technology during the first quarter worth about $24,018,000. Teachers Retirement System of The State of Kentucky acquired a new position in PAR Technology during the first quarter valued at approximately $744,000. Victory Capital Management Inc. boosted its position in PAR Technology by 7.8% during the first quarter. Victory Capital Management Inc. now owns 4,752 shares of the software maker's stock valued at $291,000 after purchasing an additional 343 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in PAR Technology by 11.6% in the first quarter. TimesSquare Capital Management LLC now owns 453,925 shares of the software maker's stock valued at $27,844,000 after buying an additional 47,340 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in shares of PAR Technology by 48.0% in the first quarter. Envestnet Asset Management Inc. now owns 44,673 shares of the software maker's stock valued at $2,740,000 after buying an additional 14,496 shares during the last quarter.
Insider Activity
In other news, Director Douglas Gregory Rauch sold 1,000 shares of PAR Technology 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 owned 11,760 shares in the company, 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 is accessible through this hyperlink. Insiders own 3.70% of the company's stock.
PAR Technology Price Performance
PAR Technology stock traded up $0.02 during mid-day trading on Friday, reaching $68.24. 242,542 shares of the company were exchanged, compared to its average volume of 390,717. The company has a fifty day simple moving average of $67.01 and a 200-day simple moving average of $64.98. PAR Technology Corporation has a 12 month low of $43.50 and a 12 month high of $82.24. 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 has a market cap of $2.76 billion, a PE ratio of -524.92 and a beta of 1.69.
PAR Technology (NYSE:PAR - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The software maker reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.04. PAR Technology had a negative return on equity of 3.90% and a negative net margin of 2.88%. The firm had revenue of $103.86 million for the quarter, compared to analyst estimates of $105.16 million. During the same quarter last year, the company earned ($0.36) EPS. The company's revenue was up 48.2% on a year-over-year basis. As a group, equities research analysts expect that PAR Technology Corporation will post -1.47 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the company. 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 report on Monday, May 12th. Needham & Company LLC reaffirmed a "buy" rating and issued a $90.00 price objective on shares of PAR Technology in a research report on Friday, July 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $79.86.
Check Out Our Latest Stock Analysis on PAR Technology
PAR Technology Profile
(
Free Report)
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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