Arizona State Retirement System Raises Stock Position in PAR Technology Co. (NYSE:PAR)

Arizona State Retirement System lifted its stake in PAR Technology Co. (NYSE:PAR) by 7.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,529 shares of the software maker’s stock after acquiring an additional 741 shares during the period. Arizona State Retirement System’s holdings in PAR Technology were worth $765,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Victory Capital Management Inc. increased its position in shares of 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 purchasing an additional 219 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in PAR Technology during the 3rd quarter worth approximately $308,000. Royce & Associates LP increased its position in PAR Technology by 2.6% during the third quarter. Royce & Associates LP now owns 1,184,279 shares of the software maker’s stock worth $61,677,000 after buying an additional 30,000 shares during the period. RiverPark Advisors LLC lifted its stake in PAR Technology by 21.3% in the third quarter. RiverPark Advisors LLC now owns 4,929 shares of the software maker’s stock valued at $257,000 after buying an additional 865 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of PAR Technology in the third quarter valued at approximately $598,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PAR. Stephens reaffirmed an “overweight” rating and issued a $90.00 target price on shares of PAR Technology in a report on Friday, February 28th. Benchmark restated a “buy” rating on shares of PAR Technology in a research note on Friday, February 28th. Citigroup reiterated a “neutral” rating on shares of PAR Technology in a research note on Friday, February 28th. Craig Hallum restated a “buy” rating on shares of PAR Technology in a research report on Friday, February 28th. Finally, The Goldman Sachs Group increased their price objective on PAR Technology from $71.00 to $79.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, PAR Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.86.

PAR Technology Trading Down 0.6 %

Shares of PAR Technology stock opened at $58.54 on Friday. The company has a 50-day moving average of $68.13 and a two-hundred day moving average of $66.10. The stock has a market cap of $2.35 billion, a PE ratio of -234.17 and a beta of 2.19. The company has a current ratio of 2.13, a quick ratio of 1.91 and a debt-to-equity ratio of 0.67. PAR Technology Co. has a 12-month low of $37.74 and a 12-month high of $82.24.

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 the consensus estimate of ($0.04) by ($0.17). The firm had revenue of $105.01 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.33) earnings per share. On average, research analysts anticipate that PAR Technology Co. will post -1.47 EPS for the current fiscal year.

PAR Technology Company 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.