Mendota Financial Group LLC significantly reduced its stake in PAR Technology Corporation (NYSE:PAR) by 94.2% during the first quarter, according to its latest SEC filing. The investment firm now holds 2,768 shares valued at $170,000, representing 0.2% of its total holdings. This move comes as other institutional investors have adjusted their positions in PAR Technology. For instance, The Manufacturers Life Insurance Company increased its holdings by 1.0% in the fourth quarter, while Signaturefd LLC and US Bancorp DE boosted their stakes by 85.6% and 104.3%, respectively. New investors in the company include Aster Capital Management DIFC Ltd and Mountain Hill Investment Partners Corp.
Analysts have recently commented on PAR Technology’s stock performance. Needham & Company LLC maintained a ‘buy’ rating with a $90.00 target price, while The Goldman Sachs Group raised its price target from $57.00 to $65.00 and assigned a ‘neutral’ rating. The stock currently has an average rating of ‘Moderate Buy’ with a consensus target price of $79.86.
On Wednesday, PAR Technology’s shares dropped by $0.93 to $66.58, with a trading volume of 302,407 shares. The company has a market capitalization of $2.70 billion and a price-to-earnings ratio of -512.15. PAR Technology reported a quarterly earnings per share of ($0.01), beating analysts’ expectations. The company’s revenue increased by 48.2% year-over-year to $103.86 million.
Insider activity includes Director Douglas Gregory Rauch selling 1,000 shares at an average price of $69.98. Insiders collectively own 3.70% of the company’s stock. PAR Technology Corporation provides cloud-based hardware and software solutions to the restaurant and retail industries worldwide.
