PAR Technology Co. (NYSE:PAR) Short Interest Up 132.4% in April

PAR Technology Co. (NYSE:PAR) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totalling 2,274,816 shares, a growth of 132.4% from the March 29th total of 978,974 shares. Approximately 21.7% of the company’s stock are short sold. Based on an average trading volume of 489,476 shares, the short-interest ratio is currently 4.6 days.

PAR has been the topic of several research reports. Jefferies Financial Group initiated coverage on shares of PAR Technology in a research note on Wednesday. They set a “buy” rating and a $32.00 price objective on the stock. ValuEngine upgraded shares of PAR Technology from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Finally, Roth Capital initiated coverage on shares of PAR Technology in a research note on Tuesday, February 5th. They issued a “buy” rating and a $31.00 target price on the stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its holdings in shares of PAR Technology by 4,825.0% during the first quarter. BNP Paribas Arbitrage SA now owns 2,364 shares of the software maker’s stock valued at $58,000 after purchasing an additional 2,316 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of PAR Technology by 250.4% during the first quarter. Advisor Group Inc. now owns 3,504 shares of the software maker’s stock valued at $85,000 after purchasing an additional 2,504 shares during the last quarter. Metropolitan Life Insurance Co. NY purchased a new position in shares of PAR Technology during the fourth quarter valued at approximately $86,000. Citigroup Inc. raised its holdings in shares of PAR Technology by 23.0% during the first quarter. Citigroup Inc. now owns 3,690 shares of the software maker’s stock valued at $91,000 after purchasing an additional 691 shares during the last quarter. Finally, MetLife Investment Advisors LLC purchased a new position in shares of PAR Technology during the fourth quarter valued at approximately $117,000. 47.83% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE PAR traded down $0.42 during midday trading on Friday, hitting $25.90. The stock had a trading volume of 159,500 shares, compared to its average volume of 160,102. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.75 and a current ratio of 1.19. PAR Technology has a 52 week low of $13.37 and a 52 week high of $28.53. The company has a market cap of $414.44 million, a PE ratio of -83.55 and a beta of -0.05.

PAR Technology (NYSE:PAR) last released its quarterly earnings data on Monday, May 6th. The software maker reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. PAR Technology had a negative net margin of 14.15% and a negative return on equity of 13.55%. The firm had revenue of $44.68 million during the quarter, compared to analysts’ expectations of $45.94 million. On average, analysts forecast that PAR Technology will post -0.52 earnings per share for the current fiscal year.

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About PAR Technology

PAR Technology Corporation, together with its subsidiaries, provides management technology solutions worldwide. The company operates through two segments, Restaurant/Retail and Government. The Restaurant/Retail segment offers point-of-sale (POS) technology solutions, including cloud-based, software-as-a-service Brink and on-premise POS PixelPoint solutions, and its POS hardware platforms, as well as installation, technical, and maintenance support services.

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