Granahan Investment Management LLC Acquires 186,490 Shares of PAR Technology Co. (NYSE:PAR)

Granahan Investment Management LLC grew its stake in shares of PAR Technology Co. (NYSE:PAR) by 115.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 347,916 shares of the software maker’s stock after buying an additional 186,490 shares during the period. Granahan Investment Management LLC’s holdings in PAR Technology were worth $25,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of PAR. Invesco Ltd. increased its holdings in PAR Technology by 100.9% in the 4th quarter. Invesco Ltd. now owns 1,283,978 shares of the software maker’s stock valued at $93,307,000 after acquiring an additional 644,920 shares during the last quarter. Loomis Sayles & Co. L P bought a new stake in shares of PAR Technology in the fourth quarter worth about $33,011,000. Hood River Capital Management LLC purchased a new stake in shares of PAR Technology in the fourth quarter worth about $30,392,000. Fred Alger Management LLC boosted its stake in PAR Technology by 146.1% during the fourth quarter. Fred Alger Management LLC now owns 311,841 shares of the software maker’s stock valued at $22,661,000 after buying an additional 185,107 shares during the last quarter. Finally, TimesSquare Capital Management LLC grew its holdings in PAR Technology by 47.1% during the 4th quarter. TimesSquare Capital Management LLC now owns 406,585 shares of the software maker’s stock valued at $29,547,000 after buying an additional 130,121 shares in the last quarter.

Analysts Set New Price Targets

PAR has been the topic of several recent research reports. StockNews.com raised PAR Technology to a “sell” rating in a report on Monday, March 3rd. Stephens reaffirmed an “overweight” rating and set a $90.00 price target on shares of PAR Technology in a research note on Friday, February 28th. Benchmark restated a “buy” rating on shares of PAR Technology in a report on Friday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of PAR Technology in a report on Friday, February 28th. Finally, Craig Hallum reiterated a “buy” rating on shares of PAR Technology in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.86.

PAR Technology Price Performance

PAR Technology stock opened at $64.72 on Friday. 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 cap of $2.62 billion, a price-to-earnings ratio of -258.87 and a beta of 1.76. The firm has a 50-day moving average of $59.24 and a two-hundred day moving average of $67.07. PAR Technology Co. has a 1 year low of $39.80 and a 1 year high of $82.24.

PAR Technology (NYSE:PAR) last announced its quarterly earnings data on Friday, May 9th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.04. The company had revenue of $103.86 million for the quarter, compared to analysts’ expectations of $105.16 million. PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. PAR Technology’s revenue was up 48.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.36) earnings per share. On average, research analysts forecast that PAR Technology Co. will post -1.47 earnings per share for the current year.

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.