Stephens Investment Management Group LLC Takes $7.14 Million Position in PAR Technology Corporation $PAR

Stephens Investment Management Group LLC purchased a new stake in PAR Technology Corporation (NYSE:PAR) in the second quarter, HoldingsChannel reports. The firm purchased 102,923 shares of the software maker’s stock, valued at approximately $7,140,000.

A number of other hedge funds have also made changes to their positions in PAR. KLP Kapitalforvaltning AS increased its position in PAR Technology by 24.3% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 8,700 shares of the software maker’s stock worth $604,000 after purchasing an additional 1,700 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of PAR Technology by 5.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 13,082 shares of the software maker’s stock valued at $907,000 after purchasing an additional 729 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of PAR Technology by 31.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,835 shares of the software maker’s stock valued at $127,000 after purchasing an additional 438 shares in the last quarter. Reinhart Partners LLC. lifted its stake in shares of PAR Technology by 2.9% in the 2nd quarter. Reinhart Partners LLC. now owns 883,792 shares of the software maker’s stock valued at $61,310,000 after purchasing an additional 24,949 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of PAR Technology by 1.4% in the 1st quarter. Rhumbline Advisers now owns 51,681 shares of the software maker’s stock valued at $3,170,000 after purchasing an additional 691 shares in the last quarter.

Analyst Upgrades and Downgrades

PAR has been the topic of several research analyst reports. BTIG Research raised PAR Technology from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Friday, August 15th. Benchmark reduced their price objective on PAR Technology from $92.00 to $77.00 and set a “buy” rating on the stock in a research note on Tuesday, August 19th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of PAR Technology in a research report on Friday, July 11th. The Goldman Sachs Group reduced their price target on PAR Technology from $50.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of PAR Technology in a report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.57.

PAR Technology Price Performance

Shares of NYSE PAR opened at $37.18 on Thursday. PAR Technology Corporation has a twelve month low of $34.33 and a twelve month high of $82.24. The company has a current ratio of 1.70, a quick ratio of 1.49 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of -16.53 and a beta of 1.65. The business has a 50 day simple moving average of $43.74 and a 200-day simple moving average of $56.42.

PAR Technology (NYSE:PAR) last issued its quarterly earnings results on Friday, August 8th. The software maker reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). PAR Technology had a negative net margin of 20.64% and a negative return on equity of 3.16%. The firm had revenue of $112.40 million during the quarter, compared to the consensus estimate of $111.02 million. During the same quarter last year, the firm posted ($0.23) earnings per share. PAR Technology’s revenue was up 43.8% compared to the same quarter last year. As a group, equities research analysts expect that PAR Technology Corporation will post -1.47 earnings per share for the current year.

PAR Technology 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.