PenderFund Capital Management Ltd. Sells 29,600 Shares of PAR Technology Corporation $PAR

Key Points

• PenderFund Capital Management Ltd. has reduced its stake in PAR Technology Corporation by 12.5%, now holding approximately 206,909 shares worth about $12.7 million.
• Several major hedge funds, including Vanguard Group and Voss Capital, have increased their holdings in PAR Technology, with Vanguard raising its position by 2.5% to nearly 2.9 million shares.
• PAR Technology recently reported earnings, missing consensus estimates, with revenue increasing 43.8% year-over-year despite a reported negative EPS of $0.03.

PenderFund Capital Management Ltd. reduced its position in shares of PAR Technology Corporation (NYSE:PAR - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 206,909 shares of the software maker's stock after selling 29,600 shares during the period. PAR Technology accounts for about 0.0% of PenderFund Capital Management Ltd.'s holdings, making the stock its 23rd biggest holding. PenderFund Capital Management Ltd. owned approximately 0.51% of PAR Technology worth $12,692,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PAR. Caitong International Asset Management Co. Ltd lifted its position in PAR Technology by 8,616.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the software maker's stock valued at $32,000 after buying an additional 517 shares during the last quarter. Versant Capital Management Inc lifted its position in PAR Technology by 996.6% in the first quarter. Versant Capital Management Inc now owns 647 shares of the software maker's stock valued at $40,000 after buying an additional 588 shares during the last quarter. NBC Securities Inc. acquired a new position in PAR Technology in the first quarter valued at about $40,000. GAMMA Investing LLC lifted its position in PAR Technology by 232.4% in the first quarter. GAMMA Investing LLC now owns 698 shares of the software maker's stock valued at $43,000 after buying an additional 488 shares during the last quarter. Finally, Assetmark Inc. lifted its position in PAR Technology by 161.7% in the first quarter. Assetmark Inc. now owns 785 shares of the software maker's stock valued at $48,000 after buying an additional 485 shares during the last quarter.

PAR Technology Price Performance

Shares of PAR traded down $1.14 during mid-day trading on Tuesday, hitting $46.86. The company's stock had a trading volume of 925,043 shares, compared to its average volume of 832,920. The firm has a 50-day moving average price of $59.12 and a 200 day moving average price of $61.20. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -20.83 and a beta of 1.64. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.70 and a quick ratio of 1.49. PAR Technology Corporation has a fifty-two week low of $46.24 and a fifty-two 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 earnings per share (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 company had revenue of $112.40 million during the quarter, compared to analysts' expectations of $111.02 million. During the same period last year, the company earned ($0.23) earnings per share. PAR Technology's revenue for the quarter was up 43.8% compared to the same quarter last year. On average, research analysts predict that PAR Technology Corporation will post -1.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PAR has been the subject of a number of analyst reports. BTIG Research raised PAR Technology from a "neutral" rating to a "buy" rating and set a $65.00 price objective for the company in a research report on Friday, August 15th. Benchmark reduced their price objective on shares of PAR Technology from $92.00 to $77.00 and set a "buy" rating for the company in a research report on Tuesday, August 19th. The Goldman Sachs Group boosted their target price on PAR Technology from $57.00 to $65.00 and gave the company a "neutral" rating in a report on Monday, May 12th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $90.00 price objective on shares of PAR Technology in a research note on Friday, July 11th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, PAR Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.43.

PAR Technology Company 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.