Gabelli Funds LLC Sells 200,000 Shares of PAR Technology Co. (NYSE:PAR)

Gabelli Funds LLC trimmed its position in shares of PAR Technology Co. (NYSE:PAR - Free Report) by 70.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,200 shares of the software maker's stock after selling 200,000 shares during the quarter. Gabelli Funds LLC owned 0.22% of PAR Technology worth $6,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its holdings in PAR Technology by 1.2% during the third quarter. State Street Corp now owns 885,338 shares of the software maker's stock worth $46,108,000 after purchasing an additional 10,582 shares during the last quarter. Barclays PLC lifted its position in shares of PAR Technology by 431.3% during the 3rd quarter. Barclays PLC now owns 63,536 shares of the software maker's stock worth $3,310,000 after buying an additional 51,578 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of PAR Technology by 11.1% in the 3rd quarter. Geode Capital Management LLC now owns 819,035 shares of the software maker's stock worth $42,664,000 after buying an additional 81,551 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of PAR Technology in the 3rd quarter worth approximately $655,000. Finally, Franklin Resources Inc. grew its holdings in shares of PAR Technology by 6.2% in the third quarter. Franklin Resources Inc. now owns 15,968 shares of the software maker's stock valued at $903,000 after acquiring an additional 932 shares in the last quarter.

PAR Technology Stock Performance

Shares of NYSE PAR traded up $0.11 during midday trading on Friday, hitting $56.40. The company's stock had a trading volume of 318,268 shares, compared to its average volume of 431,926. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of -225.60 and a beta of 1.95. The company has a current ratio of 2.13, a quick ratio of 1.91 and a debt-to-equity ratio of 0.67. The stock has a fifty day moving average price of $60.95 and a 200 day moving average price of $66.87. PAR Technology Co. has a one year low of $37.74 and a one year high of $82.24.

PAR Technology (NYSE:PAR - Get Free Report) last issued its quarterly earnings data on Friday, February 28th. The software maker reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.17). The firm had revenue of $105.01 million for the quarter, compared to analysts' expectations of $99.10 million. PAR Technology had a negative net margin of 0.66% and a negative return on equity of 8.99%. PAR Technology's revenue was up 50.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.33) EPS. On average, research analysts forecast that PAR Technology Co. will post -1.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PAR shares. Citigroup reiterated a "neutral" rating on shares of PAR Technology in a report on Friday, February 28th. Needham & Company LLC restated a "buy" rating and set a $90.00 price target on shares of PAR Technology in a research report on Friday, February 28th. StockNews.com upgraded shares of PAR Technology to a "sell" rating in a report on Monday, March 3rd. Benchmark reiterated a "buy" rating on shares of PAR Technology in a research note on Friday, February 28th. Finally, Stephens restated an "overweight" rating and set a $90.00 price target on shares of PAR Technology in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $81.86.

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.