Harbor Capital Advisors Inc. Lowers Stake in PAR Technology Corporation $PAR

Harbor Capital Advisors Inc. trimmed its position in PAR Technology Corporation (NYSE:PAR) by 59.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,885 shares of the software maker’s stock after selling 51,790 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.09% of PAR Technology worth $1,420,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Invesco Ltd. increased its position in PAR Technology by 24.1% in the 2nd quarter. Invesco Ltd. now owns 1,877,239 shares of the software maker’s stock valued at $130,224,000 after acquiring an additional 364,892 shares during the period. AXA S.A. grew its holdings in PAR Technology by 360.1% during the second quarter. AXA S.A. now owns 298,985 shares of the software maker’s stock worth $20,741,000 after acquiring an additional 234,009 shares during the period. Rovida Advisors Inc. grew its stake in shares of PAR Technology by 52.5% during the 2nd quarter. Rovida Advisors Inc. now owns 497,844 shares of the software maker’s stock worth $34,530,000 after purchasing an additional 171,350 shares during the period. Progeny 3 Inc. boosted its position in shares of PAR Technology by 12.0% in the 2nd quarter. Progeny 3 Inc. now owns 1,482,395 shares of the software maker’s stock worth $102,834,000 after buying an additional 158,887 shares in the last quarter. Finally, Bamco Inc. NY raised its position in shares of PAR Technology by 8.5% during the 2nd quarter. Bamco Inc. NY now owns 1,751,387 shares of the software maker’s stock worth $121,494,000 after purchasing an additional 137,434 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PAR shares. William Blair reiterated an “outperform” rating on shares of PAR Technology in a report on Tuesday, October 14th. BTIG Research dropped their price target on PAR Technology from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. The Goldman Sachs Group reduced their target price on shares of PAR Technology from $50.00 to $38.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of PAR Technology in a research report on Monday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price objective on shares of PAR Technology in a report on Thursday, November 13th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

Insiders Place Their Bets

In other news, CFO Bryan A. Menar sold 6,500 shares of the company’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $35.53, for a total value of $230,945.00. Following the completion of the sale, the chief financial officer directly owned 71,481 shares of the company’s stock, valued at $2,539,719.93. This represents a 8.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.70% of the company’s stock.

PAR Technology Price Performance

PAR stock opened at $37.70 on Friday. PAR Technology Corporation has a one year low of $31.65 and a one year high of $77.55. The firm has a 50-day moving average of $35.82 and a two-hundred day moving average of $47.94. The firm has a market capitalization of $1.53 billion, a PE ratio of -17.62 and a beta of 1.38. The company has a current ratio of 1.70, a quick ratio of 1.51 and a debt-to-equity ratio of 0.45.

PAR Technology (NYSE:PAR) last released its earnings results on Thursday, November 6th. The software maker reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). PAR Technology had a negative net margin of 19.21% and a negative return on equity of 2.56%. The business had revenue of $119.18 million for the quarter, compared to analysts’ expectations of $112.23 million. During the same period last year, the firm earned ($0.09) EPS. The company’s revenue was up 23.1% compared to the same quarter last year. On average, analysts forecast that PAR Technology Corporation will post -1.47 earnings per share for the current year.

PAR Technology Company Profile

PAR Technology Corp is a provider of enterprise software and hardware solutions for the hospitality, foodservice and retail industries. The company’s platforms are designed to streamline front- and back-of-house operations, covering point-of-sale (POS) systems, kitchen display and dispatch, inventory and labor management, and reporting tools. PAR’s integrated approach enables operators of full-service restaurants, quick-service chains, bars, hotels, casinos and retail outlets to centralize data and automate workflows across multiple sites.

Key offerings include PAR Brink, a cloud-native POS application that supports touchscreen, mobile and tablet devices; PAR Cloud Services, which delivers software updates, reporting and analytics through a subscription model; and hardware solutions such as payment terminals, handheld devices and self-service kiosks.