Arete Wealth Advisors LLC Purchases New Position in PAR Technology Corporation $PAR

Key Points

• Arete Wealth Advisors LLC acquired a new position in PAR Technology Corporation, purchasing 9,900 shares valued at approximately $607,000 in the first quarter of the year.
• PAR Technology reported a revenue increase of 43.8% year-over-year, totaling $112.40 million for the last quarter, although it missed EPS estimates with a reported $0.03.
• Analysts have varied opinions on PAR, with a consensus rating of "Moderate Buy" and an average price target of $78.43, reflecting ongoing interest from institutional investors.

Arete Wealth Advisors LLC purchased a new stake in shares of PAR Technology Corporation (NYSE:PAR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,900 shares of the software maker's stock, valued at approximately $607,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake in PAR Technology by 1.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 17,303 shares of the software maker's stock valued at $1,257,000 after buying an additional 168 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in PAR Technology by 3.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,233 shares of the software maker's stock valued at $382,000 after buying an additional 234 shares during the last quarter. Victory Capital Management Inc. boosted its stake in PAR Technology by 7.8% during the first quarter. Victory Capital Management Inc. now owns 4,752 shares of the software maker's stock valued at $291,000 after buying an additional 343 shares during the last quarter. OneDigital Investment Advisors LLC boosted its stake in PAR Technology by 4.2% during the first quarter. OneDigital Investment Advisors LLC now owns 10,733 shares of the software maker's stock valued at $658,000 after buying an additional 432 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in PAR Technology by 161.7% during the first quarter. Assetmark Inc. now owns 785 shares of the software maker's stock valued at $48,000 after buying an additional 485 shares during the last quarter.

PAR Technology Price Performance

NYSE:PAR opened at $46.86 on Wednesday. PAR Technology Corporation has a 1 year low of $46.24 and a 1 year high of $82.24. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.70 and a quick ratio of 1.49. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -20.83 and a beta of 1.64. The business has a 50 day simple moving average of $59.12 and a 200-day simple moving average of $61.20.

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

Wall Street Analyst Weigh In

PAR has been the subject of several analyst reports. Benchmark lowered their price objective on PAR Technology from $92.00 to $77.00 and set a "buy" rating for the company in a research note on Tuesday, August 19th. Needham & Company LLC reaffirmed a "buy" rating and issued a $90.00 price objective on shares of PAR Technology in a research note on Friday, July 11th. Finally, BTIG Research raised PAR Technology from a "neutral" rating to a "buy" rating and set a $65.00 price objective for the company in a research note on Friday, August 15th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $78.43.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.