Here’s Why PAR Technology Corp’s (PAR) Shares were Down ~50% on The Year

2 days ago 3

Soumya Eswaran

Thu, January 15, 2026 astatine 8:41 AM CST 4 min read

Laughing Water Capital, an concern absorption company, released its fourth-quarter 2025 capitalist letter. In the quarter, Laughing Water Capital returned ~6.8%, bringing the full-year returns to ~3.9% nett of fees and expenses. In comparison, the SP500TR and R2000 returned astir 2.7% and 2.2%, respectively, successful the quarter, and finished the twelvemonth up by 17.9% and 12.8%, respectively. A transcript of the missive tin beryllium downloaded here. The Fund outperformed the indexes past year, but it has lagged down them successful the existent year. However, what truly matters is the cumulative returns implicit the agelong run, arsenic volatility tends to creaseless retired implicit time. The Portfolio is well-positioned successful this regard, delivering beardown results connected a cumulative ground since inception and returned astir 400%, vs ~332% for the SP500TR and ~175% for our astir applicable benchmark, the R2000. In addition, you tin cheque the Strategy’s apical 5 holdings to cognize its champion picks successful 2025.

In its fourth-quarter 2025 capitalist letter, Laughing Water Capital highlighted stocks specified arsenic PAR Technology Corporation (NYSE:PAR). PAR Technology Corporation (NYSE:PAR) is simply a exertion institution that offers cloud-based hardware and bundle solutions to the edifice and retail industries. On January 14, 2026, PAR Technology Corporation (NYSE:PAR) banal closed astatine $39.77 per share. One-month instrumentality of PAR Technology Corporation (NYSE:PAR) was 5.46%, and its shares mislaid 48.17% of their worth implicit the past 52 weeks. PAR Technology Corporation (NYSE:PAR) has a marketplace capitalization of $1.573 billion.

Laughing Water Capital stated the pursuing regarding PAR Technology Corporation (NYSE:PAR) successful its 4th fourth 2025 capitalist letter:

"PAR Technology Corporation (NYSE:PAR) – PAR is our edifice bundle company, and was a meaningful detractor connected our performance, arsenic shares were down ~50% connected the year. There was immoderate mean fluctuation successful the concern owed to customers’ implementation timelines that did not spell our way, but PAR’s biggest occupation seems to beryllium that they are a bundle institution successful a satellite that believes AI and “vibe coding” volition destruct bequest software. This content caused multiples to travel down dramatically crossed the sector. The different mortal misdeed committed by PAR was choosing to deliberation agelong word astir their concern successful a marketplace that seems to lone attraction astir “hitting the numbers”. In brief, absorption elected to hold immoderate expected gross truthful that they could divert resources toward winning caller concern from a tier 1 operator.