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

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its holdings in PAR Technology by 8,616.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the software maker's stock valued at $32,000 after acquiring an additional 517 shares during the period. Versant Capital Management Inc lifted its position in shares of PAR Technology by 996.6% during the 1st quarter. Versant Capital Management Inc now owns 647 shares of the software maker's stock worth $40,000 after purchasing an additional 588 shares during the last quarter. NBC Securities Inc. bought a new stake in PAR Technology during the 1st quarter valued at approximately $40,000. GAMMA Investing LLC grew its holdings in PAR Technology by 232.4% in the 1st 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. increased its position in PAR Technology by 161.7% in the 1st quarter. Assetmark Inc. now owns 785 shares of the software maker's stock worth $48,000 after buying an additional 485 shares during the period.

Analyst Ratings Changes

Several research firms have recently weighed in on PAR. Benchmark reduced their price objective on PAR Technology from $92.00 to $77.00 and set a "buy" rating for the company in a research report on Tuesday. The Goldman Sachs Group upped their target price on shares of PAR Technology from $57.00 to $65.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. 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. Finally, BTIG Research upgraded shares of PAR Technology from a "neutral" rating to a "buy" rating and set a $65.00 price objective on the stock in a report on Friday, August 15th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, PAR Technology presently has a consensus rating of "Moderate Buy" and an average price target of $78.43.

PAR Technology Stock Down 0.2%

PAR opened at $51.41 on Thursday. PAR Technology Corporation has a fifty-two week low of $46.24 and a fifty-two week high of $82.24. 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 firm's fifty day moving average price is $63.23 and its two-hundred day moving average price is $63.03. The company has a market capitalization of $2.09 billion, a P/E ratio of -22.85 and a beta of 1.70.

PAR Technology (NYSE:PAR - Get Free Report) last announced its quarterly earnings data 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 net margin of 20.64% and a negative return on equity of 3.16%. The business had revenue of $112.40 million during the quarter, compared to analyst estimates of $111.02 million. During the same quarter in the prior year, the company posted ($0.23) EPS. The company's quarterly revenue was up 43.8% compared to the same quarter last year. On average, analysts anticipate that PAR Technology Corporation will post -1.47 EPS for the current year.

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.

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