PAR Technology Corporation $PAR Shares Sold by Hodges Capital Management Inc.

Key Points

• Hodges Capital Management Inc. reduced its position in PAR Technology by 67.0%, selling 55,991 shares and now owning 27,636 shares worth approximately $1.7 million.
• Analysts are mixed on PAR Technology's stock, with Benchmark lowering its price target from $92 to $77 while others like Needham maintain a buy rating with a target of $90.
• PAR Technology reported a loss of $0.03 EPS in its last earnings results, missing expectations, despite a 43.8% year-over-year revenue increase to $112.4 million.

Hodges Capital Management Inc. trimmed its holdings in shares of PAR Technology Corporation (NYSE:PAR - Free Report) by 67.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,636 shares of the software maker's stock after selling 55,991 shares during the period. Hodges Capital Management Inc. owned 0.07% of PAR Technology worth $1,695,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in PAR. Nuveen LLC acquired a new stake in shares of PAR Technology in the first quarter valued at about $24,500,000. GW&K Investment Management LLC purchased a new position in PAR Technology in the 1st quarter worth approximately $24,018,000. Nuveen Asset Management LLC grew its position in 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 acquiring an additional 264,188 shares in the last quarter. Voss Capital LP raised its stake in shares of PAR Technology by 16.9% during the first quarter. Voss Capital LP now owns 1,706,362 shares of the software maker's stock valued at $104,668,000 after purchasing an additional 246,362 shares during the period. Finally, Invesco Ltd. lifted its position in shares of PAR Technology by 17.8% during the first quarter. Invesco Ltd. now owns 1,512,347 shares of the software maker's stock worth $92,767,000 after purchasing an additional 228,369 shares in the last quarter.

Analyst Ratings Changes

A number of research firms recently weighed in on PAR. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 price target on shares of PAR Technology in a report on Friday, July 11th. Benchmark lowered their target price 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 target price on the stock in a research report on Friday, August 15th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $78.43.

PAR Technology Stock Up 0.0%

Shares of PAR traded up $0.01 during midday trading on Thursday, hitting $42.84. The company had a trading volume of 332,015 shares, compared to its average volume of 552,883. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -18.97 and a beta of 1.64. The company's 50 day moving average price is $56.12 and its 200 day moving average price is $60.42. The company has a quick ratio of 1.49, a current ratio of 1.70 and a debt-to-equity ratio of 0.43. PAR Technology Corporation has a 52 week low of $41.67 and a 52 week high of $82.24.

PAR Technology (NYSE:PAR - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The software maker reported $0.03 EPS 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 during the quarter, compared to analyst estimates of $111.02 million. During the same quarter last year, the business posted ($0.23) earnings per share. The firm's revenue for the quarter was up 43.8% on a year-over-year basis. On average, equities research analysts predict that PAR Technology Corporation will post -1.47 EPS for the current 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.