RiverPark Advisors LLC Boosts Holdings in PAR Technology Co. (NYSE:PAR)

by · The Cerbat Gem

RiverPark Advisors LLC lifted its position in PAR Technology Co. (NYSE:PAR – Free Report) by 21.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,929 shares of the software maker’s stock after purchasing an additional 865 shares during the period. RiverPark Advisors LLC’s holdings in PAR Technology were worth $257,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in PAR. Capital Research Global Investors boosted its holdings in PAR Technology by 43.4% in the first quarter. Capital Research Global Investors now owns 3,530,843 shares of the software maker’s stock valued at $155,670,000 after acquiring an additional 1,068,641 shares in the last quarter. Progeny 3 Inc. boosted its holdings in PAR Technology by 47.1% in the first quarter. Progeny 3 Inc. now owns 1,191,048 shares of the software maker’s stock valued at $54,026,000 after acquiring an additional 381,232 shares in the last quarter. TimesSquare Capital Management LLC bought a new stake in PAR Technology in the third quarter valued at $14,398,000. Magnolia Capital Advisors LLC bought a new stake in PAR Technology in the second quarter valued at $3,881,000. Finally, Renaissance Technologies LLC boosted its holdings in PAR Technology by 252.0% in the second quarter. Renaissance Technologies LLC now owns 105,600 shares of the software maker’s stock valued at $4,973,000 after acquiring an additional 75,600 shares in the last quarter.

Analyst Ratings Changes

Several analysts recently weighed in on PAR shares. Benchmark lifted their price target on shares of PAR Technology from $69.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Jefferies Financial Group raised PAR Technology from a “hold” rating to a “buy” rating and raised their price objective for the company from $45.00 to $60.00 in a research report on Monday, August 12th. The Goldman Sachs Group raised their price objective on PAR Technology from $59.00 to $71.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Needham & Company LLC raised their price objective on PAR Technology from $66.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Lake Street Capital raised their price objective on PAR Technology from $57.00 to $77.00 and gave the company a “buy” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $77.38.

Check Out Our Latest Stock Analysis on PAR Technology

PAR Technology Stock Performance

Shares of NYSE:PAR opened at $72.32 on Friday. PAR Technology Co. has a fifty-two week low of $34.87 and a fifty-two week high of $76.10. The business has a 50-day simple moving average of $59.16 and a two-hundred day simple moving average of $51.98. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.13 and a quick ratio of 2.80.

PAR Technology (NYSE:PAR – Get Free Report) last issued its earnings results on Friday, November 8th. The software maker reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. The business had revenue of $96.80 million during the quarter, compared to analyst estimates of $91.01 million. During the same quarter in the previous year, the firm earned ($0.35) EPS. PAR Technology’s revenue was down 9.6% on a year-over-year basis. Equities research analysts forecast that PAR Technology Co. will post -1.67 EPS for the current fiscal year.

PAR Technology Company Profile

(Free Report)

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.

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