PAR Technology Co. (NYSE:PAR) is ABS Direct Equity Fund LLC’s 3rd Largest Position

ABS Direct Equity Fund LLC cut its holdings in shares of PAR Technology Co. (NYSE:PAR) by 4.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,000 shares of the software maker’s stock after selling 3,580 shares during the quarter. PAR Technology makes up about 5.9% of ABS Direct Equity Fund LLC’s investment portfolio, making the stock its 3rd biggest position. ABS Direct Equity Fund LLC’s holdings in PAR Technology were worth $5,087,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Amalgamated Bank raised its stake in PAR Technology by 25.5% during the 2nd quarter. Amalgamated Bank now owns 1,166 shares of the software maker’s stock valued at $55,000 after purchasing an additional 237 shares during the period. KBC Group NV grew its holdings in PAR Technology by 30.4% during the 4th quarter. KBC Group NV now owns 1,717 shares of the software maker’s stock valued at $125,000 after buying an additional 400 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of PAR Technology during the third quarter valued at approximately $125,000. Mount Yale Investment Advisors LLC purchased a new position in shares of PAR Technology in the fourth quarter worth $286,000. Finally, Victory Capital Management Inc. boosted its position in shares of PAR Technology by 5.1% during the third quarter. Victory Capital Management Inc. now owns 4,524 shares of the software maker’s stock worth $236,000 after acquiring an additional 219 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. StockNews.com upgraded shares of PAR Technology to a “sell” rating in a research note on Thursday, January 23rd. Lake Street Capital boosted their target price on PAR Technology from $57.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Benchmark raised their price target on PAR Technology from $69.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Craig Hallum lifted their price objective on PAR Technology from $65.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Stephens increased their target price on PAR Technology from $83.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.25.

PAR Technology Stock Performance

PAR opened at $71.21 on Tuesday. PAR Technology Co. has a one year low of $37.74 and a one year high of $82.24. The company has a quick ratio of 1.91, a current ratio of 2.13 and a debt-to-equity ratio of 0.67. The stock’s 50 day moving average price is $74.89 and its 200-day moving average price is $62.55.

PAR Technology (NYSE:PAR) last released its earnings results on Friday, November 8th. The software maker reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The business had revenue of $96.80 million for the quarter, compared to analyst estimates of $91.01 million. PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. The business’s revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.35) earnings per share. On average, sell-side analysts forecast that PAR Technology Co. will post -1.47 earnings per share for the current year.

PAR Technology 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.