Arizona State Retirement System Buys 1,801 Shares of PAR Technology Co. (NYSE:PAR)

Arizona State Retirement System increased its holdings in shares of PAR Technology Co. (NYSE:PAR) by 23.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,502 shares of the software maker’s stock after acquiring an additional 1,801 shares during the period. Arizona State Retirement System’s holdings in PAR Technology were worth $447,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. TD Asset Management Inc boosted its stake in PAR Technology by 18.5% during the second quarter. TD Asset Management Inc now owns 141,094 shares of the software maker’s stock worth $6,644,000 after acquiring an additional 22,004 shares in the last quarter. Roubaix Capital LLC boosted its stake in PAR Technology by 315.0% during the second quarter. Roubaix Capital LLC now owns 79,053 shares of the software maker’s stock worth $3,723,000 after acquiring an additional 60,006 shares in the last quarter. Hodges Capital Management Inc. boosted its stake in PAR Technology by 63.3% during the second quarter. Hodges Capital Management Inc. now owns 156,755 shares of the software maker’s stock worth $7,382,000 after acquiring an additional 60,766 shares in the last quarter. Rhumbline Advisers boosted its stake in PAR Technology by 8.9% during the second quarter. Rhumbline Advisers now owns 50,423 shares of the software maker’s stock worth $2,374,000 after acquiring an additional 4,124 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in PAR Technology by 13.0% during the second quarter. Commonwealth Equity Services LLC now owns 11,750 shares of the software maker’s stock worth $553,000 after acquiring an additional 1,355 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Benchmark reissued a “buy” rating and set a $69.00 price objective on shares of PAR Technology in a research note on Friday, August 9th. Jefferies Financial Group raised shares of PAR Technology from a “hold” rating to a “buy” rating and lifted their target price for the stock from $45.00 to $60.00 in a report on Monday, August 12th. The Goldman Sachs Group lifted their target price on shares of PAR Technology from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Stephens raised shares of PAR Technology from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $46.00 to $60.00 in a report on Thursday, June 13th. Finally, StockNews.com raised shares of PAR Technology to a “sell” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, PAR Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

PAR Technology Stock Up 0.2 %

PAR opened at $56.11 on Tuesday. The company has a quick ratio of 2.80, a current ratio of 3.12 and a debt-to-equity ratio of 0.64. The firm has a 50 day moving average price of $51.96 and a 200-day moving average price of $46.84. PAR Technology Co. has a twelve month low of $28.21 and a twelve month high of $56.75. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -21.83 and a beta of 2.17.

PAR Technology (NYSE:PAR) last announced its earnings results on Thursday, August 8th. The software maker reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.05). PAR Technology had a net margin of 0.44% and a negative return on equity of 10.93%. The business had revenue of $78.20 million for the quarter, compared to analysts’ expectations of $115.14 million. During the same period in the prior year, the company posted ($0.65) earnings per share. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. Equities research analysts forecast that PAR Technology Co. will post -1.67 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.