Nuveen LLC Makes New $24.50 Million Investment in PAR Technology Corporation $PAR

Key Points

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Nuveen LLC bought a new stake in shares of PAR Technology Corporation (NYSE:PAR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 399,416 shares of the software maker's stock, valued at approximately $24,500,000. Nuveen LLC owned approximately 0.99% of PAR Technology at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PAR. Envestnet Asset Management Inc. boosted its holdings in shares of PAR Technology by 164.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 30,177 shares of the software maker's stock valued at $2,193,000 after buying an additional 18,763 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of PAR Technology by 10,370.0% during the 4th quarter. Russell Investments Group Ltd. now owns 8,376 shares of the software maker's stock valued at $609,000 after buying an additional 8,296 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of PAR Technology during the 4th quarter valued at $2,067,000. Mariner LLC boosted its holdings in shares of PAR Technology by 14.1% during the 4th quarter. Mariner LLC now owns 24,603 shares of the software maker's stock valued at $1,788,000 after buying an additional 3,039 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of PAR Technology by 900.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 3,000 shares of the software maker's stock valued at $218,000 after buying an additional 2,700 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $90.00 price target on shares of PAR Technology in a research report on Friday, July 11th. BTIG Research raised PAR Technology from a "neutral" rating to a "buy" rating and set a $65.00 price target for the company in a research report on Friday, August 15th. The Goldman Sachs Group lifted their price target on PAR Technology from $57.00 to $65.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. Finally, Benchmark lowered their price target on PAR Technology from $92.00 to $77.00 and set a "buy" rating for the company in a research report on Tuesday. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $78.43.

PAR Technology Stock Performance

PAR Technology stock traded up $2.93 during midday trading on Friday, hitting $54.13. The stock had a trading volume of 378,821 shares, compared to its average volume of 514,633. The firm's fifty day moving average is $62.99 and its two-hundred day moving average is $62.89. The company has a market capitalization of $2.20 billion, a PE ratio of -24.06 and a beta of 1.70. PAR Technology Corporation has a 52-week low of $46.24 and a 52-week high of $82.24. The company has a current ratio of 1.70, a quick ratio of 1.49 and a debt-to-equity ratio of 0.43.

PAR Technology (NYSE:PAR - Get Free Report) last released its earnings results on Friday, August 8th. The software maker reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $112.40 million during the quarter, compared to analysts' expectations of $111.02 million. PAR Technology had a negative return on equity of 3.16% and a negative net margin of 20.64%.The company's revenue was up 43.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.23) earnings per share. On average, research analysts forecast that PAR Technology Corporation will post -1.47 EPS for the current year.

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.