Geode Capital Management LLC Grows Stake in PAR Technology Co. (NYSE:PAR)

Geode Capital Management LLC grew its stake in shares of PAR Technology Co. (NYSE:PAR) by 11.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 819,035 shares of the software maker’s stock after buying an additional 81,551 shares during the period. Geode Capital Management LLC owned 2.26% of PAR Technology worth $42,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of PAR. Progeny 3 Inc. increased its position in PAR Technology by 10.9% in the second quarter. Progeny 3 Inc. now owns 1,320,858 shares of the software maker’s stock worth $62,199,000 after purchasing an additional 129,810 shares during the last quarter. Royce & Associates LP raised its position in shares of PAR Technology by 2.6% during the 3rd quarter. Royce & Associates LP now owns 1,184,279 shares of the software maker’s stock valued at $61,677,000 after buying an additional 30,000 shares in the last quarter. Bamco Inc. NY lifted its holdings in shares of PAR Technology by 15.2% in the 3rd quarter. Bamco Inc. NY now owns 1,170,908 shares of the software maker’s stock valued at $60,981,000 after acquiring an additional 154,921 shares during the last quarter. Reinhart Partners LLC. grew its position in PAR Technology by 6.4% in the third quarter. Reinhart Partners LLC. now owns 946,773 shares of the software maker’s stock worth $49,308,000 after acquiring an additional 57,049 shares in the last quarter. Finally, State Street Corp increased its stake in PAR Technology by 1.2% during the third quarter. State Street Corp now owns 885,338 shares of the software maker’s stock worth $46,108,000 after acquiring an additional 10,582 shares during the last quarter.

PAR Technology Price Performance

Shares of PAR stock opened at $73.73 on Tuesday. The company has a market capitalization of $2.68 billion, a P/E ratio of -294.91 and a beta of 2.19. The company’s 50-day simple moving average is $70.97 and its two-hundred day simple moving average is $58.01. PAR Technology Co. has a one year low of $37.74 and a one year high of $82.24. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.13 and a quick ratio of 1.91.

PAR Technology (NYSE:PAR) last released its quarterly earnings data on Friday, November 8th. The software maker reported ($0.09) EPS for the quarter, topping the consensus estimate 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 company had revenue of $96.80 million for the quarter, compared to the consensus estimate of $91.01 million. During the same period last year, the business posted ($0.35) EPS. PAR Technology’s quarterly revenue was down 9.6% on a year-over-year basis. As a group, equities analysts anticipate that PAR Technology Co. will post -1.47 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PAR shares. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of PAR Technology in a report on Tuesday, November 26th. The Goldman Sachs Group lifted their price objective on shares of PAR Technology from $71.00 to $79.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Craig Hallum increased their target price on shares of PAR Technology from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, November 11th. StockNews.com raised shares of PAR Technology to a “sell” rating in a research note on Thursday, November 7th. Finally, Lake Street Capital upped their price target on shares of PAR Technology from $57.00 to $77.00 and gave the company a “buy” rating in a 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $79.25.

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.