Cannell & Co. Cuts Position in PAR Technology Co. (NYSE:PAR)

Cannell & Co. cut its position in shares of PAR Technology Co. (NYSE:PAR - Free Report) by 20.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 230,573 shares of the software maker's stock after selling 57,838 shares during the quarter. Cannell & Co. owned about 0.82% of PAR Technology worth $10,039,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PAR. SG Americas Securities LLC acquired a new stake in shares of PAR Technology during the third quarter worth $353,000. Raymond James Financial Services Advisors Inc. increased its stake in PAR Technology by 5.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 19,525 shares of the software maker's stock valued at $752,000 after purchasing an additional 1,050 shares in the last quarter. Inspire Advisors LLC bought a new stake in PAR Technology in the third quarter valued at $512,000. TD Asset Management Inc increased its stake in PAR Technology by 7.9% in the third quarter. TD Asset Management Inc now owns 111,524 shares of the software maker's stock valued at $4,298,000 after purchasing an additional 8,200 shares in the last quarter. Finally, Swiss National Bank increased its stake in PAR Technology by 1.3% in the third quarter. Swiss National Bank now owns 60,300 shares of the software maker's stock valued at $2,324,000 after purchasing an additional 800 shares in the last quarter.

PAR Technology Stock Down 0.1 %

PAR Technology stock traded down $0.03 during midday trading on Wednesday, hitting $42.25. 246,763 shares of the stock were exchanged, compared to its average volume of 235,451. PAR Technology Co. has a 52-week low of $24.76 and a 52-week high of $49.84. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -16.61 and a beta of 1.98. The business's 50-day moving average price is $43.05 and its 200-day moving average price is $41.33. The company has a quick ratio of 1.96, a current ratio of 2.25 and a debt-to-equity ratio of 1.13.

PAR Technology (NYSE:PAR - Get Free Report) last released its earnings results on Tuesday, February 27th. The software maker reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.05). PAR Technology had a negative net margin of 16.77% and a negative return on equity of 16.46%. The company had revenue of $107.71 million during the quarter, compared to analysts' expectations of $106.12 million. On average, research analysts expect that PAR Technology Co. will post -1.15 EPS for the current fiscal year.

Analysts Set New Price Targets

PAR has been the subject of several research analyst reports. StockNews.com raised shares of PAR Technology to a "sell" rating in a research note on Thursday, March 7th. TheStreet upgraded shares of PAR Technology from a "d+" rating to a "c-" rating in a report on Thursday, February 15th. Needham & Company LLC reiterated a "buy" rating and set a $53.00 price objective on shares of PAR Technology in a report on Thursday, March 28th. Sidoti upgraded shares of PAR Technology from a "neutral" rating to a "buy" rating and set a $61.00 price objective for the company in a report on Tuesday, March 12th. Finally, Benchmark started coverage on shares of PAR Technology in a report on Tuesday, February 13th. They set a "hold" rating for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, PAR Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.57.

Insider Activity

In other news, Director Douglas Gregory Rauch sold 4,500 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $42.04, for a total value of $189,180.00. Following the sale, the director now owns 14,365 shares of the company's stock, valued at $603,904.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Douglas Gregory Rauch sold 4,500 shares of the company's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $42.04, for a total transaction of $189,180.00. Following the sale, the director now owns 14,365 shares of the company's stock, valued at approximately $603,904.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Bryan A. Menar sold 803 shares of the company's stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $43.79, for a total transaction of $35,163.37. Following the sale, the chief financial officer now directly owns 54,601 shares in the company, valued at approximately $2,390,977.79. The disclosure for this sale can be found here. Insiders own 3.67% 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.