Gamco Investors INC. ET AL Reduces Stock Position in PAR Technology Corporation $PAR

Gamco Investors INC. ET AL lessened its position in PAR Technology Corporation (NYSE:PAR) by 35.2% during the first quarter, Holdings Channel.com reports. The fund owned 115,710 shares of the software maker’s stock after selling 62,819 shares during the period. Gamco Investors INC. ET AL’s holdings in PAR Technology were worth $1,542,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. State of Wyoming bought a new position in shares of PAR Technology during the fourth quarter valued at about $34,000. Kestra Advisory Services LLC bought a new stake in shares of PAR Technology in the fourth quarter worth about $35,000. MidFirst Bank bought a new stake in shares of PAR Technology in the fourth quarter worth about $113,000. AQR Capital Management LLC purchased a new position in PAR Technology during the 4th quarter valued at about $201,000. Finally, Inceptionr LLC increased its holdings in PAR Technology by 33.1% during the 1st quarter. Inceptionr LLC now owns 15,501 shares of the software maker’s stock valued at $207,000 after purchasing an additional 3,853 shares during the period.

PAR Technology Price Performance

PAR stock opened at $17.16 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.10 and a quick ratio of 1.83. PAR Technology Corporation has a 1 year low of $11.59 and a 1 year high of $68.96. The firm has a 50-day moving average of $15.81 and a 200 day moving average of $18.27. The company has a market cap of $707.70 million, a P/E ratio of -9.18 and a beta of 1.32.

PAR Technology (NYSE:PAR) last posted its quarterly earnings data on Thursday, May 7th. The software maker reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.03. PAR Technology had a negative return on equity of 2.57% and a negative net margin of 16.04%.The business had revenue of $123.97 million for the quarter, compared to analysts’ expectations of $116.88 million. During the same period in the previous year, the firm posted ($0.01) EPS. The business’s revenue was up 19.4% on a year-over-year basis. On average, sell-side analysts forecast that PAR Technology Corporation will post -0.16 EPS for the current year.

Analysts Set New Price Targets

PAR has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PAR Technology in a research report on Friday, July 10th. Royal Bank Of Canada set a $16.00 target price on PAR Technology in a research note on Tuesday, June 9th. The Goldman Sachs Group upped their target price on PAR Technology from $18.00 to $20.50 and gave the company a “neutral” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. raised their price target on PAR Technology from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. Finally, Needham & Company LLC cut their price target on shares of PAR Technology from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, PAR Technology currently has a consensus rating of “Moderate Buy” and an average target price of $26.17.

Insider Buying and Selling

In related news, insider Cathy A. King sold 20,000 shares of PAR Technology stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $15.38, for a total transaction of $307,600.00. Following the sale, the insider directly owned 122,919 shares in the company, valued at $1,890,494.22. The trade was a 13.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Voss Capital, Lp purchased 594,900 shares of PAR Technology stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of $14.59 per share, for a total transaction of $8,679,591.00. Following the completion of the purchase, the insider owned 4,675,000 shares of the company’s stock, valued at $68,208,250. This trade represents a 14.58% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders bought 1,069,900 shares of company stock valued at $15,568,965. 2.30% of the stock is currently owned by company insiders.

PAR Technology Company Profile

PAR Technology Corp is a provider of enterprise software and hardware solutions for the hospitality, foodservice and retail industries. The company’s platforms are designed to streamline front- and back-of-house operations, covering point-of-sale (POS) systems, kitchen display and dispatch, inventory and labor management, and reporting tools. PAR’s integrated approach enables operators of full-service restaurants, quick-service chains, bars, hotels, casinos and retail outlets to centralize data and automate workflows across multiple sites.

Key offerings include PAR Brink, a cloud-native POS application that supports touchscreen, mobile and tablet devices; PAR Cloud Services, which delivers software updates, reporting and analytics through a subscription model; and hardware solutions such as payment terminals, handheld devices and self-service kiosks.