Redmond Asset Management LLC Lowers Holdings in PAR Technology Co. (NYSE:PAR)

Redmond Asset Management LLC reduced its stake in shares of PAR Technology Co. (NYSE:PAR) by 7.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,524 shares of the software maker’s stock after selling 5,313 shares during the quarter. PAR Technology makes up 1.3% of Redmond Asset Management LLC’s holdings, making the stock its 19th largest position. Redmond Asset Management LLC’s holdings in PAR Technology were worth $5,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. Arcadia Investment Management Corp MI acquired a new stake in PAR Technology during the fourth quarter worth about $113,000. KBC Group NV lifted its position in shares of PAR Technology by 30.4% in the fourth quarter. KBC Group NV now owns 1,717 shares of the software maker’s stock valued at $125,000 after acquiring an additional 400 shares in the last quarter. Principal Financial Group Inc. purchased a new position in PAR Technology during the fourth quarter worth approximately $205,000. Victory Capital Management Inc. lifted its position in PAR Technology by 5.1% during the third quarter. Victory Capital Management Inc. now owns 4,524 shares of the software maker’s stock worth $236,000 after buying an additional 219 shares in the last quarter. Finally, RiverPark Advisors LLC lifted its position in PAR Technology by 21.3% during the third quarter. RiverPark Advisors LLC now owns 4,929 shares of the software maker’s stock worth $257,000 after buying an additional 865 shares in the last quarter.

PAR Technology Price Performance

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PAR. Stephens raised their target price on PAR Technology from $83.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of PAR Technology in a report on Friday, January 3rd. StockNews.com upgraded PAR Technology to a “sell” rating in a report on Thursday, January 23rd. Craig Hallum lifted their price target on PAR Technology from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Lake Street Capital lifted their price target on PAR Technology from $57.00 to $77.00 and gave the stock a “buy” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, PAR Technology presently has a consensus rating of “Moderate Buy” and an average target price of $79.25.

About PAR Technology

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.