PAR Technology Corporation $PAR Stock: Redmond Asset Management LLC Decreases Stake

Redmond Asset Management LLC cut its position in shares of PAR Technology Corporation (NYSE:PAR) by 30.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 231,068 shares of the software maker’s stock after selling 100,513 shares during the quarter. PAR Technology accounts for about 0.9% of Redmond Asset Management LLC’s portfolio, making the stock its 28th biggest holding. Redmond Asset Management LLC’s holdings in PAR Technology were worth $3,179,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Bamco Inc. NY bought a new stake in PAR Technology in the 2nd quarter valued at approximately $38,000. State of Wyoming acquired a new position in PAR Technology during the 2nd quarter worth approximately $43,000. Versant Capital Management Inc grew its stake in shares of PAR Technology by 325.5% during the 2nd quarter. Versant Capital Management Inc now owns 5,110 shares of the software maker’s stock worth $89,000 after acquiring an additional 3,909 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of PAR Technology during the 2nd quarter worth approximately $116,000. Finally, Corsair Capital Management L.P. bought a new position in shares of PAR Technology during the 1st quarter worth approximately $133,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PAR. JPMorgan Chase & Co. lifted their price objective on shares of PAR Technology from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Needham & Company LLC restated a “buy” rating and set a $25.00 target price on shares of PAR Technology in a report on Monday, September 28th. Weiss Ratings raised shares of PAR Technology from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 27th. BTIG Research decreased their target price on shares of PAR Technology from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Finally, The Goldman Sachs Group lifted their price target on shares of PAR Technology from $18.00 to $20.50 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, PAR Technology presently has an average rating of “Moderate Buy” and an average target price of $24.61.

PAR Technology Stock Performance

PAR opened at $17.13 on Thursday. PAR Technology Corporation has a 52-week low of $11.59 and a 52-week high of $40.54. The firm has a market capitalization of $708.67 million, a PE ratio of -9.73 and a beta of 1.35. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.89 and a current ratio of 2.21. The business’s 50-day simple moving average is $16.85 and its 200 day simple moving average is $17.73.

PAR Technology (NYSE:PAR) last issued its quarterly earnings results on Thursday, August 6th. The software maker reported $0.18 EPS for the quarter, beating the consensus estimate of $0.12 by $0.06. The firm had revenue of $133.41 million during the quarter, compared to analysts’ expectations of $124.66 million. PAR Technology had a negative return on equity of 1.62% and a negative net margin of 14.52%. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 earnings per share. As a group, sell-side analysts expect that PAR Technology Corporation will post -0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at PAR Technology

In related news, Director Narinder Singh acquired 11,518 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were bought at an average price of $17.36 per share, for a total transaction of $199,952.48. Following the purchase, the director directly owned 38,527 shares in the company, valued at approximately $668,828.72. This trade represents a 42.65% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is owned by company insiders.

PAR Technology Profile

PAR Technology Corporation (NYSE:PAR) provides technology solutions for the restaurant and hospitality industries. Its offerings include point-of-sale systems, restaurant management software, digital ordering, loyalty and customer-engagement tools, payment solutions, workforce management, and related hardware and support services.

The company’s portfolio includes Brink POS, a cloud-based restaurant point-of-sale platform, and Punchh, a customer loyalty and engagement platform. PAR also provides tools designed to help restaurant operators manage digital channels, payments, data, and guest relationships through integrated technology solutions.

Founded in 1968, PAR Technology has expanded from its origins in restaurant and hospitality technology through organic development and acquisitions, including Punchh and Stuzo.