Hodges Capital Management Inc. Cuts Holdings in PAR Technology Co. (NYSE:PAR)

Hodges Capital Management Inc. lowered its holdings in PAR Technology Co. (NYSE:PAR) by 5.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,769 shares of the software maker’s stock after selling 8,986 shares during the quarter. Hodges Capital Management Inc. owned 0.41% of PAR Technology worth $7,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its position in PAR Technology by 14.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,655 shares of the software maker’s stock valued at $348,000 after purchasing an additional 954 shares during the period. SG Americas Securities LLC raised its stake in PAR Technology by 36.2% during the 2nd quarter. SG Americas Securities LLC now owns 6,670 shares of the software maker’s stock valued at $314,000 after buying an additional 1,772 shares during the last quarter. Reinhart Partners LLC. lifted its holdings in shares of PAR Technology by 1.8% during the 2nd quarter. Reinhart Partners LLC. now owns 889,724 shares of the software maker’s stock valued at $41,897,000 after buying an additional 15,678 shares during the period. Atria Wealth Solutions Inc. boosted its stake in shares of PAR Technology by 2.8% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 60,881 shares of the software maker’s stock worth $2,867,000 after buying an additional 1,645 shares during the last quarter. Finally, Penbrook Management LLC bought a new stake in shares of PAR Technology in the second quarter worth $392,000.

Analysts Set New Price Targets

A number of research firms have weighed in on PAR. Craig Hallum increased their target price on PAR Technology from $65.00 to $85.00 and gave the company a “buy” rating in a report on Monday, November 11th. Jefferies Financial Group raised shares of PAR Technology from a “hold” rating to a “buy” rating and raised their price objective for the stock from $45.00 to $60.00 in a report on Monday, August 12th. Lake Street Capital boosted their target price on shares of PAR Technology from $57.00 to $77.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Benchmark lifted their price target on shares of PAR Technology from $69.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group boosted their price objective on shares of PAR Technology from $71.00 to $79.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.25.

PAR Technology Stock Up 1.3 %

Shares of PAR stock opened at $78.70 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.13 and a quick ratio of 1.91. PAR Technology Co. has a one year low of $37.74 and a one year high of $82.24. The company’s fifty day moving average price is $65.96 and its 200-day moving average price is $55.60. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of -314.80 and a beta of 2.20.

PAR Technology (NYSE:PAR) last posted its quarterly earnings results on Friday, November 8th. The software maker reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The business had revenue of $96.80 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 9.6% on a year-over-year basis. During the same period last year, the firm earned ($0.35) earnings per share. Sell-side analysts expect that PAR Technology Co. will post -1.47 EPS for the current fiscal year.

About PAR Technology

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.