New York State Common Retirement Fund Decreases Stake in PAR Technology Corporation $PAR

New York State Common Retirement Fund lessened its holdings in PAR Technology Corporation (NYSE:PAR) by 67.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,730 shares of the software maker’s stock after selling 26,693 shares during the period. New York State Common Retirement Fund’s holdings in PAR Technology were worth $504,000 at the end of the most recent reporting period.

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

PAR Technology Stock Performance

Shares of PAR stock opened at $23.22 on Wednesday. The stock has a market capitalization of $942.52 million, a P/E ratio of -10.85 and a beta of 1.35. The company has a current ratio of 1.70, a quick ratio of 1.51 and a debt-to-equity ratio of 0.45. The firm’s 50 day moving average is $33.60 and its 200 day moving average is $39.73. PAR Technology Corporation has a 12 month low of $21.31 and a 12 month high of $72.15.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. William Blair restated an “outperform” rating on shares of PAR Technology in a report on Tuesday, October 14th. Needham & Company LLC reissued a “buy” rating and set a $55.00 target price on shares of PAR Technology in a research report on Friday, January 9th. BTIG Research restated a “buy” rating and set a $60.00 price target on shares of PAR Technology in a research note on Friday, January 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of PAR Technology in a research note on Monday, December 29th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, PAR Technology presently has a consensus rating of “Moderate Buy” and an average target price of $64.00.

Insiders Place Their Bets

In related news, CFO Bryan A. Menar sold 6,500 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $35.53, for a total transaction of $230,945.00. Following the sale, the chief financial officer owned 71,481 shares of the company’s stock, valued at approximately $2,539,719.93. This represents a 8.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Voss Capital, Lp bought 25,000 shares of PAR Technology stock in a transaction on Tuesday, January 6th. The shares were bought at an average cost of $34.56 per share, with a total value of $864,000.00. Following the acquisition, the insider directly owned 3,613,898 shares in the company, valued at approximately $124,896,314.88. This represents a 0.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 196,035 shares of company stock worth $7,103,730. 3.70% of the stock is currently owned by corporate insiders.

About PAR Technology

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.