K2 Principal Fund L.P. Cuts Stake in PAR Technology Co. (NYSE:PAR)

K2 Principal Fund L.P. cut its holdings in shares of PAR Technology Co. (NYSE:PAR) by 18.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 82,702 shares of the software maker’s stock after selling 18,238 shares during the quarter. K2 Principal Fund L.P.’s holdings in PAR Technology were worth $4,307,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PAR. Progeny 3 Inc. grew its holdings in shares of PAR Technology by 10.9% during the 2nd quarter. Progeny 3 Inc. now owns 1,320,858 shares of the software maker’s stock valued at $62,199,000 after purchasing an additional 129,810 shares during the last quarter. Royce & Associates LP boosted its position in PAR Technology by 2.6% during the third quarter. Royce & Associates LP now owns 1,184,279 shares of the software maker’s stock valued at $61,677,000 after buying an additional 30,000 shares during the period. Bamco Inc. NY grew its stake in shares of PAR Technology by 15.2% during the third quarter. Bamco Inc. NY now owns 1,170,908 shares of the software maker’s stock valued at $60,981,000 after buying an additional 154,921 shares during the last quarter. Reinhart Partners LLC. increased its holdings in shares of PAR Technology by 6.4% in the third quarter. Reinhart Partners LLC. now owns 946,773 shares of the software maker’s stock worth $49,308,000 after buying an additional 57,049 shares during the period. Finally, State Street Corp lifted its stake in shares of PAR Technology by 1.2% in the 3rd quarter. State Street Corp now owns 885,338 shares of the software maker’s stock valued at $46,108,000 after acquiring an additional 10,582 shares during the last quarter.

PAR Technology Stock Up 1.3 %

Shares of NYSE PAR opened at $78.70 on Friday. The firm has a fifty day simple moving average of $65.96 and a two-hundred day simple moving average of $55.60. The firm has a market capitalization of $2.86 billion, a PE ratio of -314.80 and a beta of 2.20. The company has a current ratio of 2.13, a quick ratio of 1.91 and a debt-to-equity ratio of 0.67. PAR Technology Co. has a 12 month low of $37.74 and a 12 month high of $82.24.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PAR. Stephens lifted their price target on PAR Technology from $83.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Jefferies Financial Group raised shares of PAR Technology from a “hold” rating to a “buy” rating and lifted their target price for the stock from $45.00 to $60.00 in a research note on Monday, August 12th. Craig Hallum upped their price target on shares of PAR Technology from $65.00 to $85.00 and gave the company a “buy” rating in a report on Monday, November 11th. StockNews.com raised shares of PAR Technology to a “sell” rating in a report on Thursday, November 7th. Finally, Benchmark upped their price objective on shares of PAR Technology from $69.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.25.

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.