PAR Technology Corporation $PAR Shares Acquired by ABS Direct Equity Fund LLC

ABS Direct Equity Fund LLC lifted its stake in PAR Technology Corporation (NYSE:PAR) by 25.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,000 shares of the software maker’s stock after purchasing an additional 15,000 shares during the period. PAR Technology comprises about 4.2% of ABS Direct Equity Fund LLC’s holdings, making the stock its 11th largest holding. ABS Direct Equity Fund LLC’s holdings in PAR Technology were worth $2,968,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Invesco Ltd. raised its position in PAR Technology by 24.1% in the 2nd quarter. Invesco Ltd. now owns 1,877,239 shares of the software maker’s stock valued at $130,224,000 after purchasing an additional 364,892 shares in the last quarter. Bamco Inc. NY increased its stake in shares of PAR Technology by 8.5% during the second quarter. Bamco Inc. NY now owns 1,751,387 shares of the software maker’s stock worth $121,494,000 after buying an additional 137,434 shares during the period. Progeny 3 Inc. raised its holdings in PAR Technology by 12.0% in the second quarter. Progeny 3 Inc. now owns 1,482,395 shares of the software maker’s stock valued at $102,834,000 after acquiring an additional 158,887 shares in the last quarter. Geode Capital Management LLC lifted its stake in PAR Technology by 13.2% in the second quarter. Geode Capital Management LLC now owns 942,503 shares of the software maker’s stock worth $65,389,000 after acquiring an additional 110,160 shares during the last quarter. Finally, Reinhart Partners LLC. grew its holdings in PAR Technology by 2.9% during the 2nd quarter. Reinhart Partners LLC. now owns 883,792 shares of the software maker’s stock worth $61,310,000 after acquiring an additional 24,949 shares in the last quarter.

Insider Activity

In related news, CFO Bryan A. Menar sold 6,500 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $35.53, for a total value of $230,945.00. Following the transaction, the chief financial officer owned 71,481 shares in the company, valued at $2,539,719.93. The trade was a 8.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PAR has been the topic of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $55.00 price objective on shares of PAR Technology in a report on Thursday, November 13th. William Blair restated an “outperform” rating on shares of PAR Technology in a research note on Tuesday, October 14th. The Goldman Sachs Group decreased their price target on PAR Technology from $50.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of PAR Technology in a report on Monday. Finally, BTIG Research decreased their target price on PAR Technology from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $64.00.

PAR Technology Stock Up 0.6%

PAR stock opened at $37.04 on Friday. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -17.31 and a beta of 1.38. The company has a fifty day moving average price of $35.65 and a 200 day moving average price of $48.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.70 and a quick ratio of 1.51. PAR Technology Corporation has a 12 month low of $31.65 and a 12 month high of $77.55.

PAR Technology (NYSE:PAR) last issued its quarterly earnings data on Thursday, November 6th. The software maker reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). PAR Technology had a negative return on equity of 2.56% and a negative net margin of 19.21%.The business had revenue of $119.18 million for the quarter, compared to analysts’ expectations of $112.23 million. During the same period in the previous year, the business posted ($0.09) earnings per share. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. Sell-side analysts expect that PAR Technology Corporation will post -1.47 earnings per share for the current year.

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.