Caitong International Asset Management Co. Ltd Increases Stock Holdings in PAR Technology Corporation $PAR

Caitong International Asset Management Co. Ltd lifted its stake in shares of PAR Technology Corporation (NYSE:PAR) by 8,616.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 523 shares of the software maker’s stock after acquiring an additional 517 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in PAR Technology were worth $32,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. The Manufacturers Life Insurance Company raised its holdings in shares of PAR Technology by 1.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 17,303 shares of the software maker’s stock valued at $1,257,000 after buying an additional 168 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of PAR Technology by 3.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,233 shares of the software maker’s stock valued at $382,000 after buying an additional 234 shares during the period. Victory Capital Management Inc. raised its holdings in shares of PAR Technology by 7.8% during the 1st quarter. Victory Capital Management Inc. now owns 4,752 shares of the software maker’s stock valued at $291,000 after buying an additional 343 shares during the period. OneDigital Investment Advisors LLC raised its holdings in shares of PAR Technology by 4.2% during the 1st quarter. OneDigital Investment Advisors LLC now owns 10,733 shares of the software maker’s stock valued at $658,000 after buying an additional 432 shares during the period. Finally, Assetmark Inc. raised its holdings in shares of PAR Technology by 161.7% during the 1st quarter. Assetmark Inc. now owns 785 shares of the software maker’s stock valued at $48,000 after buying an additional 485 shares during the period.

Insider Buying and Selling at PAR Technology

In other news, Director Douglas Gregory Rauch sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $69.98, for a total value of $69,980.00. Following the completion of the sale, the director directly owned 11,760 shares in the company, valued at approximately $822,964.80. The trade was a 7.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.70% of the company’s stock.

PAR Technology Price Performance

PAR stock opened at $52.49 on Monday. The company has a quick ratio of 1.49, a current ratio of 1.70 and a debt-to-equity ratio of 0.43. PAR Technology Corporation has a 52-week low of $46.24 and a 52-week high of $82.24. The stock’s 50 day moving average is $64.11 and its two-hundred day moving average is $63.33. The company has a market capitalization of $2.13 billion, a PE ratio of -23.33 and a beta of 1.70.

PAR Technology (NYSE:PAR) last issued its quarterly earnings results on Friday, August 8th. The software maker reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). PAR Technology had a negative net margin of 20.64% and a negative return on equity of 3.16%. The firm had revenue of $112.40 million during the quarter, compared to the consensus estimate of $111.02 million. During the same quarter last year, the firm posted ($0.23) earnings per share. PAR Technology’s revenue was up 43.8% compared to the same quarter last year. Analysts predict that PAR Technology Corporation will post -1.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PAR has been the topic of several analyst reports. The Goldman Sachs Group raised their target price on PAR Technology from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, May 12th. Needham & Company LLC restated a “buy” rating and set a $90.00 price objective on shares of PAR Technology in a report on Friday, July 11th. Finally, BTIG Research upgraded PAR Technology from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $80.57.

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.