Rhumbline Advisers Grows Stake in PAR Technology Co. (NYSE:PAR)

Rhumbline Advisers boosted its position in PAR Technology Co. (NYSE:PAR) by 8.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,423 shares of the software maker’s stock after purchasing an additional 4,124 shares during the period. Rhumbline Advisers owned about 0.15% of PAR Technology worth $2,374,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PAR. NBC Securities Inc. acquired a new position in PAR Technology in the first quarter valued at $76,000. Central Pacific Bank Trust Division acquired a new position in shares of PAR Technology during the first quarter worth about $78,000. LRI Investments LLC acquired a new position in shares of PAR Technology in the first quarter worth about $99,000. RiverPark Advisors LLC acquired a new stake in shares of PAR Technology during the 2nd quarter valued at approximately $191,000. Finally, Principal Financial Group Inc. bought a new stake in PAR Technology in the second quarter valued at $211,000.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Benchmark restated a “buy” rating and issued a $69.00 price objective on shares of PAR Technology in a report on Friday, August 9th. Jefferies Financial Group raised shares of PAR Technology from a “hold” rating to a “buy” rating and boosted their target price for the company from $45.00 to $60.00 in a research note on Monday, August 12th. Needham & Company LLC lifted their price target on PAR Technology from $57.00 to $60.00 and gave the company a “buy” rating in a report on Friday, August 9th. StockNews.com raised PAR Technology to a “sell” rating in a research report on Wednesday. Finally, The Goldman Sachs Group raised their price target on shares of PAR Technology from $45.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, PAR Technology has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

PAR Technology Stock Performance

Shares of NYSE PAR opened at $57.16 on Friday. The company has a market capitalization of $2.07 billion, a P/E ratio of -22.24 and a beta of 2.17. The company has a current ratio of 3.12, a quick ratio of 2.80 and a debt-to-equity ratio of 0.64. PAR Technology Co. has a 12 month low of $28.21 and a 12 month high of $58.57. The stock has a 50 day moving average of $52.60 and a 200-day moving average of $47.07.

PAR Technology (NYSE:PAR) last released its quarterly 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). The business had revenue of $78.20 million for the quarter, compared to the consensus estimate of $115.14 million. PAR Technology had a negative return on equity of 10.93% and a net margin of 0.44%. During the same period in the prior year, the business posted ($0.65) earnings per share. PAR Technology’s revenue was up 12.5% compared to the same quarter last year. As a group, equities research analysts predict that PAR Technology Co. will post -1.67 EPS for the current 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.