PAR Technology Corporation $PAR Stake Decreased by Voya Investment Management LLC

Voya Investment Management LLC cut its holdings in shares of PAR Technology Corporation (NYSE:PAR) by 100.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,258 shares of the software maker’s stock after selling 41,003,710 shares during the period. Voya Investment Management LLC’s holdings in PAR Technology were worth $287,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Huntington National Bank raised its stake in PAR Technology by 66.2% during the 2nd quarter. Huntington National Bank now owns 437 shares of the software maker’s stock valued at $30,000 after acquiring an additional 174 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of PAR Technology by 68.6% during the second quarter. Advisors Asset Management Inc. now owns 563 shares of the software maker’s stock valued at $39,000 after purchasing an additional 229 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of PAR Technology during the first quarter valued at $53,000. Farther Finance Advisors LLC raised its stake in shares of PAR Technology by 31.4% during the second quarter. Farther Finance Advisors LLC now owns 1,835 shares of the software maker’s stock valued at $127,000 after purchasing an additional 438 shares in the last quarter. Finally, MQS Management LLC acquired a new stake in PAR Technology in the second quarter worth about $215,000.

Insider Activity at PAR Technology

In related news, CFO Bryan A. Menar sold 6,500 shares of the stock in a transaction on 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 transaction, the chief financial officer owned 71,481 shares in the company, valued at $2,539,719.93. This trade represents a 8.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of PAR Technology in a research note on Monday, December 29th. The Goldman Sachs Group decreased their price objective on shares of PAR Technology from $50.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, October 13th. William Blair reissued an “outperform” rating on shares of PAR Technology in a report on Tuesday, October 14th. Needham & Company LLC restated a “buy” rating and issued a $55.00 target price on shares of PAR Technology in a research report on Thursday, November 13th. Finally, BTIG Research lowered 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. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, PAR Technology currently has a consensus rating of “Moderate Buy” and an average target price of $64.00.

PAR Technology Stock Down 1.5%

PAR stock opened at $35.73 on Monday. The firm has a market cap of $1.45 billion, a PE ratio of -16.69 and a beta of 1.35. PAR Technology Corporation has a 12 month low of $31.65 and a 12 month high of $77.55. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.70 and a quick ratio of 1.51. The firm has a 50 day simple moving average of $35.83 and a 200 day simple moving average of $46.76.

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