Castleark Management LLC Reduces Stake in PAR Technology Co.
Castleark Management LLC decreased its stake in PAR Technology Co. (NYSE:PAR) by 4.1% during the fourth quarter, according to the company’s latest Form 13F filing with the Securities and Exchange Commission. The institutional investor held 111,580 shares of the software company’s stock after selling 4,790 shares during the period. At the end of the most recent reporting period, Castleark Management LLC owned approximately 0.29% of PAR Technology, valued at $8,109,000.
Other institutional investors have recently bought and sold shares of PAR Technology. Barclays PLC increased its stake in PAR Technology by 431.3% in the third quarter, now owning 63,536 shares valued at $3,310,000. Janney Montgomery Scott LLC raised its holdings in PAR Technology by 18.4% in the fourth quarter, now owning 10,715 shares worth $779,000. KBC Group NV lifted its stake in PAR Technology by 30.4% during the same period, now owning 1,717 shares worth $125,000. Mount Yale Investment Advisors LLC established a new position in PAR Technology in the fourth quarter, worth approximately $286,000. Stratos Wealth Partners LTD increased its holdings in PAR Technology by 7.4% during the fourth quarter, now owning 4,966 shares valued at $361,000.
PAR Technology Stock Performance
PAR Technology’s stock opened at $69.40 on Wednesday. The company has a one-year low of $41.86 and a one-year high of $82.24. PAR Technology has a debt-to-equity ratio of 0.67, a quick ratio of 1.91, and a current ratio of 2.13. The stock has a market capitalization of $2.81 billion, a P/E ratio of -277.59, and a beta of 1.76. The business’s 50-day simple moving average is $60.16, and its 200-day simple moving average is $67.56.
Recent Earnings Report
PAR Technology last reported quarterly earnings on Friday, May 9th. The software company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. PAR Technology had revenue of $103.86 million during the quarter, compared to analysts’ expectations of $105.16 million. The company’s revenue for the quarter was up 48.2% on a year-over-year basis. Analysts anticipate that PAR Technology will post -1.47 EPS for the current year.
Analyst Ratings
Several analyst firms have recently rated PAR Technology. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective. Stephens restated an “overweight” rating with a $90.00 price target. The Goldman Sachs Group lifted their price target from $57.00 to $65.00 and gave the stock a “neutral” rating. StockNews.com raised PAR Technology to a “sell” rating, while Citigroup reiterated a “neutral” rating. Currently, PAR Technology has a consensus rating of “Moderate Buy” and a consensus target price of $79.86.
PAR Technology Corporation provides omnichannel cloud-based hardware and software solutions to the restaurant and retail industries worldwide. The company’s Restaurant/Retail segment offers various solutions, including PUNCHH, MENU, BRINK POS, PAR PAYMENT SERVICES, and DATA CENTRAL.
