Corebridge Financial Inc. Sells 2,775 Shares of PAR Technology Co. (NYSE:PAR)

Corebridge Financial Inc. lowered its stake in shares of PAR Technology Co. (NYSE:PAR) by 14.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,720 shares of the software maker’s stock after selling 2,775 shares during the quarter. Corebridge Financial Inc.’s holdings in PAR Technology were worth $1,215,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PAR. Mountain Hill Investment Partners Corp. bought a new stake in shares of PAR Technology in the 4th quarter worth $29,000. Signaturefd LLC grew its position in PAR Technology by 85.6% in the 4th quarter. Signaturefd LLC now owns 605 shares of the software maker’s stock worth $44,000 after purchasing an additional 279 shares in the last quarter. US Bancorp DE grew its position in PAR Technology by 104.3% in the 4th quarter. US Bancorp DE now owns 668 shares of the software maker’s stock worth $49,000 after purchasing an additional 341 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in PAR Technology in the 4th quarter valued at about $113,000. Finally, KBC Group NV lifted its position in shares of PAR Technology by 30.4% during the 4th quarter. KBC Group NV now owns 1,717 shares of the software maker’s stock worth $125,000 after buying an additional 400 shares in the last quarter.

PAR Technology Trading Down 7.2 %

Shares of PAR stock opened at $52.30 on Friday. PAR Technology Co. has a 1 year low of $37.74 and a 1 year high of $82.24. The company’s fifty day simple moving average is $64.95 and its two-hundred day simple moving average is $66.82. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.13 and a quick ratio of 1.91. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -209.19 and a beta of 2.20.

PAR Technology (NYSE:PAR) last issued its quarterly earnings data on Friday, February 28th. The software maker reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.17). The company had revenue of $105.01 million for the quarter, compared to analysts’ expectations of $99.10 million. PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. The business’s revenue for the quarter was up 50.2% on a year-over-year basis. During the same period last year, the company posted ($0.33) EPS. As a group, analysts anticipate that PAR Technology Co. will post -1.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PAR shares. Citigroup reiterated a “neutral” rating on shares of PAR Technology in a report on Friday, February 28th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of PAR Technology in a research note on Friday, February 28th. Stephens restated an “overweight” rating and set a $90.00 price target on shares of PAR Technology in a research report on Friday, February 28th. Benchmark reiterated a “buy” rating on shares of PAR Technology in a research note on Friday, February 28th. Finally, Craig Hallum restated a “buy” rating on shares of PAR Technology in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $81.86.

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.