Rovida Advisors Inc. Has $20.03 Million Stock Holdings in PAR Technology Corporation (NYSE:PAR)

Key Points

• Rovida Advisors Inc. has increased its stake in PAR Technology Corporation by 30.6%, owning 326,494 shares, making it the fund's third largest position.
• Several institutional investors such as Farther Finance Advisors and Deutsche Bank AG have also significantly increased their holdings in PAR Technology recently.
• PAR Technology reported a net loss of $0.03 per share for the recent quarter, missing analysts' expectations, while the company's revenue increased by 43.8% year-over-year.

Rovida Advisors Inc. grew its position in shares of PAR Technology Corporation (NYSE:PAR - Free Report) by 30.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 326,494 shares of the software maker's stock after acquiring an additional 76,494 shares during the quarter. PAR Technology accounts for approximately 15.0% of Rovida Advisors Inc.'s portfolio, making the stock its 3rd largest holding. Rovida Advisors Inc. owned about 0.81% of PAR Technology worth $20,027,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PAR. The Manufacturers Life Insurance Company grew its holdings in shares of PAR Technology by 1.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 17,303 shares of the software maker's stock worth $1,257,000 after purchasing an additional 168 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of PAR Technology by 3.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,233 shares of the software maker's stock valued at $382,000 after acquiring an additional 234 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of PAR Technology by 7.8% during the 1st quarter. Victory Capital Management Inc. now owns 4,752 shares of the software maker's stock valued at $291,000 after acquiring an additional 343 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake in shares of PAR Technology by 4.2% during the 1st quarter. OneDigital Investment Advisors LLC now owns 10,733 shares of the software maker's stock valued at $658,000 after purchasing an additional 432 shares during the period. Finally, Assetmark Inc. lifted its position in shares of PAR Technology by 161.7% during the 1st quarter. Assetmark Inc. now owns 785 shares of the software maker's stock valued at $48,000 after buying an additional 485 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms recently commented on PAR. Needham & Company LLC reissued a "buy" rating and issued a $90.00 price target on shares of PAR Technology in a report on Friday, July 11th. The Goldman Sachs Group upped their price objective on PAR Technology from $57.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $83.17.

PAR Technology Stock Up 3.2%

NYSE:PAR traded up $1.59 during mid-day trading on Wednesday, reaching $50.64. The stock had a trading volume of 72,303 shares, compared to its average volume of 486,660. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of -22.50 and a beta of 1.70. PAR Technology Corporation has a 1-year low of $46.24 and a 1-year high of $82.24. The stock's 50 day simple moving average is $64.94 and its two-hundred day simple moving average is $63.81. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.70 and a quick ratio of 1.83.

PAR Technology (NYSE:PAR - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The software maker reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). PAR Technology had a negative net margin of 20.64% and a negative return on equity of 3.16%. The business had revenue of $112.40 million for the quarter, compared to the consensus estimate of $111.02 million. During the same period last year, the firm posted ($0.23) EPS. The business's quarterly revenue was up 43.8% on a year-over-year basis. Equities analysts anticipate that PAR Technology Corporation will post -1.47 EPS for the current year.

Insiders Place Their Bets

In other news, Director Douglas Gregory Rauch sold 1,000 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $69.98, for a total transaction of $69,980.00. Following the transaction, the director directly owned 11,760 shares in the company, valued at $822,964.80. The trade was a 7.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.70% of the company's stock.

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.