T. Rowe Price Investment Management Inc. Cuts Position in PAR Technology Corporation $PAR

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in PAR Technology Corporation by 2.6%, selling 98,205 shares during the first quarter, now holding approximately 3.63 million shares valued at $222.9 million.
• Multiple institutional investors, including Caitong International and Versant Capital, significantly increased their positions in PAR Technology, with some boosts exceeding 8000% in shares.
• PAR Technology's recent earnings report indicates a 43.8% year-over-year revenue growth, although it missed EPS estimates, reporting only $0.03 compared to the expected $0.04.

T. Rowe Price Investment Management Inc. decreased its position in shares of PAR Technology Corporation (NYSE:PAR - Free Report) by 2.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,633,959 shares of the software maker's stock after selling 98,205 shares during the period. T. Rowe Price Investment Management Inc. owned 8.97% of PAR Technology worth $222,908,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PAR. Caitong International Asset Management Co. Ltd lifted its holdings in shares of PAR Technology by 8,616.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the software maker's stock valued at $32,000 after purchasing an additional 517 shares during the last quarter. Versant Capital Management Inc raised its stake 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 stake in PAR Technology in the first quarter worth about $40,000. GAMMA Investing LLC grew its stake in shares of PAR Technology by 232.4% during the first quarter. GAMMA Investing LLC now owns 698 shares of the software maker's stock worth $43,000 after acquiring an additional 488 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in shares of PAR Technology by 161.7% during the first quarter. Assetmark Inc. now owns 785 shares of the software maker's stock valued at $48,000 after acquiring an additional 485 shares in the last quarter.

PAR Technology Stock Performance

PAR stock traded down $0.36 during trading on Tuesday, hitting $51.82. 195,437 shares of the company traded hands, compared to its average volume of 513,059. The stock's 50-day simple moving average is $62.62 and its 200 day simple moving average is $62.51. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.70 and a quick ratio of 1.49. The company has a market cap of $2.10 billion, a PE ratio of -23.03 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.

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

Wall Street Analyst Weigh In

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

About PAR Technology

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.