Rockefeller Capital Management L.P. Reduces Stock Position in PAR Technology Corporation $PAR

Rockefeller Capital Management L.P. lessened its position in PAR Technology Corporation (NYSE:PAR) by 62.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 96,312 shares of the software maker’s stock after selling 159,158 shares during the period. Rockefeller Capital Management L.P.’s holdings in PAR Technology were worth $3,494,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in shares of PAR Technology by 8.0% during the first quarter. Royal Bank of Canada now owns 20,446 shares of the software maker’s stock worth $1,255,000 after purchasing an additional 1,515 shares during the period. AQR Capital Management LLC purchased a new position in PAR Technology during the 1st quarter valued at about $309,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in PAR Technology by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,012 shares of the software maker’s stock valued at $1,228,000 after purchasing an additional 874 shares during the last quarter. Jones Financial Companies Lllp raised its position in PAR Technology by 186,466.7% during the 1st quarter. Jones Financial Companies Lllp now owns 5,597 shares of the software maker’s stock valued at $343,000 after purchasing an additional 5,594 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in PAR Technology by 28.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 231,494 shares of the software maker’s stock worth $14,200,000 after buying an additional 51,316 shares during the period.

PAR Technology Price Performance

PAR opened at $16.73 on Friday. The stock has a fifty day simple moving average of $14.59 and a two-hundred day simple moving average of $21.38. The company has a current ratio of 2.10, a quick ratio of 1.83 and a debt-to-equity ratio of 0.51. The company has a market cap of $690.32 million, a price-to-earnings ratio of -8.95 and a beta of 1.35. PAR Technology Corporation has a 12-month low of $11.59 and a 12-month high of $72.15.

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

Insider Activity

In other PAR Technology news, major shareholder Voss Capital, Lp acquired 594,900 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were acquired at an average price of $14.59 per share, for a total transaction of $8,679,591.00. Following the completion of the acquisition, the insider owned 4,675,000 shares in the company, valued at $68,208,250. This trade represents a 14.58% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cathy A. King sold 20,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $15.38, for a total transaction of $307,600.00. Following the completion of the sale, the insider owned 122,919 shares in the company, valued at approximately $1,890,494.22. This trade represents a 13.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders purchased 1,069,900 shares of company stock valued at $15,568,965. 2.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PAR. Royal Bank Of Canada set a $16.00 price objective on PAR Technology in a research report on Tuesday, June 9th. Weiss Ratings restated a “sell (d-)” rating on shares of PAR Technology in a report on Friday, March 27th. Jefferies Financial Group set a $18.00 price target on shares of PAR Technology in a research report on Saturday, May 9th. William Blair reissued an “outperform” rating on shares of PAR Technology in a research note on Friday, March 13th. Finally, JPMorgan Chase & Co. raised their price objective on shares of PAR Technology from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $25.89.

About PAR Technology

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.