Gabelli Funds LLC Sells 200,000 Shares of PAR Technology Co. (NYSE:PAR)

Gabelli Funds LLC lowered its holdings in PAR Technology Co. (NYSE:PAR - Free Report) by 70.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,200 shares of the software maker's stock after selling 200,000 shares during the period. Gabelli Funds LLC owned about 0.22% of PAR Technology worth $6,191,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Aster Capital Management DIFC Ltd bought a new stake in shares of PAR Technology in the fourth quarter valued at $28,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of PAR Technology in the fourth quarter valued at $29,000. Signaturefd LLC raised its stake in shares of PAR Technology by 85.6% in the fourth quarter. Signaturefd LLC now owns 605 shares of the software maker's stock valued at $44,000 after buying an additional 279 shares during the period. US Bancorp DE raised its stake in shares of PAR Technology by 104.3% in the fourth quarter. US Bancorp DE now owns 668 shares of the software maker's stock valued at $49,000 after buying an additional 341 shares during the period. Finally, Arcadia Investment Management Corp MI bought a new stake in shares of PAR Technology in the fourth quarter valued at $113,000.

PAR Technology Price Performance

PAR traded up $2.28 on Wednesday, reaching $58.12. The company had a trading volume of 58,343 shares, compared to its average volume of 454,761. The business has a 50 day simple moving average of $60.45 and a 200 day simple moving average of $66.92. The company has a market cap of $2.34 billion, a price-to-earnings ratio of -232.47 and a beta of 1.95. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.91 and a current ratio of 2.13. PAR Technology Co. has a 52-week low of $37.74 and a 52-week high of $82.24.

PAR Technology (NYSE:PAR - Get Free Report) last announced its earnings results on Friday, February 28th. The software maker reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.17). PAR Technology had a negative net margin of 0.66% and a negative return on equity of 8.99%. The company had revenue of $105.01 million during the quarter, compared to analysts' expectations of $99.10 million. During the same period in the prior year, the business earned ($0.33) earnings per share. The company's revenue for the quarter was up 50.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that PAR Technology Co. will post -1.47 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on PAR. Needham & Company LLC reiterated a "buy" rating and set a $90.00 price objective on shares of PAR Technology in a research note on Friday, February 28th. StockNews.com upgraded PAR Technology to a "sell" rating in a research note on Monday, March 3rd. Stephens reiterated an "overweight" rating and set a $90.00 price objective on shares of PAR Technology in a research note on Friday, February 28th. Benchmark reiterated a "buy" rating on shares of PAR Technology in a research note on Friday, February 28th. Finally, Craig Hallum reiterated a "buy" rating on shares of PAR Technology in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $81.86.

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.