Charles Schwab Investment Management Inc. Increases Stock Holdings in PAR Technology Corporation $PAR

Key Points

• Charles Schwab Investment Management Inc. boosted its stake in PAR Technology Corporation by 2.9%, acquiring an additional 8,621 shares for a total of approximately 302,656 shares valued at $18.57 million.
• Equities analysts have set varying price targets for PAR Technology, with Goldman Sachs increasing its target from $57 to $65, while Needham & Company maintains a "buy" rating with a target of $90.
• PAR Technology reported a 43.8% year-over-year increase in revenue for the most recent quarter, although it missed earnings expectations with EPS of $0.03 against a consensus estimate of $0.04.

Charles Schwab Investment Management Inc. lifted its holdings in shares of PAR Technology Corporation (NYSE:PAR - Free Report) by 2.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 302,656 shares of the software maker's stock after purchasing an additional 8,621 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.75% of PAR Technology worth $18,565,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of PAR Technology by 2.5% during the first quarter. Vanguard Group Inc. now owns 2,898,114 shares of the software maker's stock worth $177,770,000 after purchasing an additional 69,546 shares in the last quarter. Reinhart Partners LLC. lifted its position in shares of PAR Technology by 15.0% during the first quarter. Reinhart Partners LLC. now owns 858,843 shares of the software maker's stock worth $52,681,000 after purchasing an additional 112,183 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of PAR Technology by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 660,496 shares of the software maker's stock worth $48,000,000 after purchasing an additional 26,008 shares in the last quarter. TimesSquare Capital Management LLC lifted its position in shares of PAR Technology by 11.6% during the first quarter. TimesSquare Capital Management LLC now owns 453,925 shares of the software maker's stock worth $27,844,000 after purchasing an additional 47,340 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of PAR Technology by 194.2% during the fourth quarter. Nuveen Asset Management LLC now owns 400,251 shares of the software maker's stock worth $29,086,000 after purchasing an additional 264,188 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of PAR Technology from $57.00 to $65.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. Needham & Company LLC reaffirmed a "buy" rating and issued a $90.00 target price on shares of PAR Technology in a report on Friday, July 11th. BTIG Research raised shares of PAR Technology from a "neutral" rating to a "buy" rating and set a $65.00 target price on the stock in a report on Friday, August 15th. Finally, Benchmark reduced their target price on shares of PAR Technology from $92.00 to $77.00 and set a "buy" rating on the stock in a report on Tuesday, August 19th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.43.

PAR Technology Stock Up 0.4%

PAR Technology stock traded up $0.19 during mid-day trading on Thursday, hitting $52.49. The company had a trading volume of 425,144 shares, compared to its average volume of 1,142,085. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of -23.33 and a beta of 1.70. PAR Technology Corporation has a 1 year low of $46.24 and a 1 year high of $82.24. The company has a quick ratio of 1.49, a current ratio of 1.70 and a debt-to-equity ratio of 0.43. The business has a fifty day moving average of $61.98 and a 200 day moving average of $62.23.

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

About PAR Technology

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.