Concentric Capital Strategies LP Cuts Stock Position in PAR Technology Co. (NYSE:PAR)

Concentric Capital Strategies LP lessened its position in PAR Technology Co. (NYSE:PAR - Free Report) by 75.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,806 shares of the software maker's stock after selling 61,923 shares during the period. Concentric Capital Strategies LP owned 0.05% of PAR Technology worth $1,031,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Arcadia Investment Management Corp MI acquired a new position in PAR Technology in the 2nd quarter worth about $32,000. Amalgamated Bank increased its stake in shares of PAR Technology by 25.5% in the second quarter. Amalgamated Bank now owns 1,166 shares of the software maker's stock valued at $55,000 after buying an additional 237 shares during the period. nVerses Capital LLC acquired a new stake in shares of PAR Technology in the third quarter valued at about $125,000. RiverPark Advisors LLC acquired a new stake in shares of PAR Technology in the second quarter valued at about $191,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of PAR Technology in the second quarter valued at about $211,000.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PAR. Craig Hallum upped their target price on PAR Technology from $65.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Stephens upped 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. Lake Street Capital upped their target price on PAR Technology from $57.00 to $77.00 and gave the company a "buy" rating in a research report on Monday, November 11th. The Goldman Sachs Group increased their price target on PAR Technology from $71.00 to $79.00 and gave the stock a "neutral" rating in a report on Monday. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $90.00 price target on shares of PAR Technology in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $79.25.

PAR Technology Price Performance

PAR Technology stock traded down $0.63 during midday trading on Tuesday, hitting $78.81. 94,208 shares of the company's stock were exchanged, compared to its average volume of 360,829. PAR Technology Co. has a 52-week low of $37.74 and a 52-week high of $82.24. The stock has a 50-day moving average price of $64.02 and a two-hundred day moving average price of $54.75. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.91 and a current ratio of 2.13. The company has a market cap of $2.86 billion, a P/E ratio of -317.76 and a beta of 2.19.

PAR Technology (NYSE:PAR - Get Free Report) last released its earnings results on Friday, November 8th. The software maker reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.10) by $0.01. The company had revenue of $96.80 million during 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%. PAR Technology's revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.35) EPS. On average, equities research analysts forecast that PAR Technology Co. will post -1.56 earnings per share for the current year.

PAR Technology Company 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.