Bank of America Reduces Stake in PAR Technology
Bank of America Corp DE decreased its holdings in PAR Technology Co. (NYSE:PAR) by 54.9% during the fourth quarter, according to the company’s latest filing with the Securities and Exchange Commission (SEC). The firm owned 68,455 shares of the software maker’s stock after selling 83,359 shares during the period. This move left Bank of America Corp DE with approximately 0.18% of PAR Technology, valued at $4,975,000.
Institutional Investors Adjust Holdings
Several other institutional investors and hedge funds have recently modified their holdings of PAR Technology. Invesco Ltd. increased its stake by 100.9% in the fourth quarter, now owning 1,283,978 shares valued at $93,307,000. Dimensional Fund Advisors LP boosted its holdings by 4.1%, owning 660,496 shares worth $48,000,000. Next Century Growth Investors LLC grew its stake by 15.7%, now holding 518,554 shares valued at $37,683,000. New stakes were established by Loomis Sayles & Co. L P and Hood River Capital Management LLC, with investments worth approximately $33,011,000 and $30,392,000, respectively.
PAR Technology Stock Performance
PAR Technology stock rose by $0.40 during midday trading on Friday, reaching $65.67. The company saw 764,722 shares exchanged, surpassing its average volume of 437,313. Key financial metrics include a debt-to-equity ratio of 0.67, a quick ratio of 1.91, and a current ratio of 2.13. The stock has fluctuated between a 52-week low of $41.86 and a high of $82.24.
Earnings Report and Analyst Ratings
PAR Technology last reported earnings on May 9th, with a loss of $0.01 per share, beating the consensus estimate of ($0.05) by $0.04. The company reported revenue of $103.86 million, slightly below expectations but showing a 48.2% increase from the previous year. Analyst ratings for PAR Technology include one sell rating, two hold ratings, and six buy ratings, resulting in a Moderate Buy average rating with an average target price of $79.86.
Insider Activity
Director Douglas Gregory Rauch sold 1,000 shares on May 20th at an average price of $69.98, reducing his ownership by 7.84%. Corporate insiders currently own 3.70% of the stock.
