Redmond Asset Management LLC Trims Position in PAR Technology Co. (NYSE:PAR)

Redmond Asset Management LLC lessened its stake in shares of PAR Technology Co. (NYSE:PAR) by 7.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,524 shares of the software maker’s stock after selling 5,313 shares during the quarter. PAR Technology comprises 1.3% of Redmond Asset Management LLC’s portfolio, making the stock its 19th largest holding. Redmond Asset Management LLC owned approximately 0.18% of PAR Technology worth $5,052,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Creative Planning purchased a new position in shares of PAR Technology during the third quarter worth about $316,000. Roubaix Capital LLC grew its holdings in shares of PAR Technology by 10.6% during the third quarter. Roubaix Capital LLC now owns 87,464 shares of the software maker’s stock worth $4,555,000 after purchasing an additional 8,411 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of PAR Technology by 106.0% during the third quarter. Harbor Capital Advisors Inc. now owns 84,815 shares of the software maker’s stock worth $4,417,000 after purchasing an additional 43,633 shares in the last quarter. TimesSquare Capital Management LLC purchased a new position in shares of PAR Technology during the third quarter worth about $14,398,000. Finally, Lisanti Capital Growth LLC purchased a new position in shares of PAR Technology during the third quarter worth about $3,520,000.

Analyst Ratings Changes

Several brokerages have recently commented on PAR. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of PAR Technology in a report on Friday, January 3rd. Lake Street Capital boosted their target price on PAR Technology from $57.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Craig Hallum boosted their target price on PAR Technology from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Benchmark boosted their target price on PAR Technology from $69.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, StockNews.com upgraded PAR Technology to a “sell” rating in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.25.

PAR Technology Price Performance

NYSE PAR opened at $62.22 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.13 and a quick ratio of 1.91. PAR Technology Co. has a 12 month low of $37.74 and a 12 month high of $82.24. The stock’s 50 day moving average is $71.71 and its 200 day moving average is $64.95.

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.