Renaissance Technologies LLC Buys 75,600 Shares of PAR Technology Co. (NYSE:PAR)

Renaissance Technologies LLC lifted its stake in shares of PAR Technology Co. (NYSE:PAR) by 252.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 105,600 shares of the software maker’s stock after purchasing an additional 75,600 shares during the quarter. Renaissance Technologies LLC owned 0.31% of PAR Technology worth $4,973,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new stake in shares of PAR Technology in the second quarter worth about $32,000. NBC Securities Inc. purchased a new stake in PAR Technology in the 1st quarter worth approximately $76,000. Central Pacific Bank Trust Division bought a new position in PAR Technology in the 1st quarter valued at $78,000. LRI Investments LLC purchased a new position in shares of PAR Technology during the 1st quarter valued at $99,000. Finally, RiverPark Advisors LLC bought a new position in shares of PAR Technology in the second quarter worth $191,000.

PAR Technology Stock Performance

PAR Technology stock opened at $52.75 on Friday. The firm has a fifty day simple moving average of $52.98 and a two-hundred day simple moving average of $47.52. PAR Technology Co. has a twelve month low of $28.21 and a twelve month high of $58.57. The company has a market capitalization of $1.79 billion, a PE ratio of -20.53 and a beta of 2.17. The company has a quick ratio of 2.80, a current ratio of 3.12 and a debt-to-equity ratio of 0.64.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PAR shares. Benchmark restated a “buy” rating and set a $69.00 target price on shares of PAR Technology in a research report on Friday, August 9th. Stephens upgraded shares of PAR Technology from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $46.00 to $60.00 in a research report on Thursday, June 13th. Needham & Company LLC lifted their target price on shares of PAR Technology from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Jefferies Financial Group raised shares of PAR Technology from a “hold” rating to a “buy” rating and boosted their price target for the stock from $45.00 to $60.00 in a research note on Monday, August 12th. Finally, The Goldman Sachs Group raised their price objective on shares of PAR Technology from $45.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.00.

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.