Commerce Bank Takes Position in PAR Technology Corporation (NYSE:PAR)

Key Points

• Commerce Bank has invested approximately $267,000 in PAR Technology Corporation, acquiring a total of 4,358 shares during the first quarter.
• PAR Technology's stock price is currently around $57.81, with a significant 52-week range between $45.75 and $82.24.
• Analysts have mixed sentiments about PAR Technology, with a consensus rating of "Moderate Buy" and target price expectations averaging around $79.86.

Commerce Bank bought a new position in PAR Technology Corporation (NYSE:PAR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,358 shares of the software maker's stock, valued at approximately $267,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pictet Asset Management Holding SA lifted its position in shares of PAR Technology by 13.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 5,628 shares of the software maker's stock valued at $409,000 after acquiring an additional 665 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in PAR Technology during the 4th quarter valued at $2,793,000. Alliancebernstein L.P. lifted its holdings in shares of PAR Technology by 3.1% in the fourth quarter. Alliancebernstein L.P. now owns 37,090 shares of the software maker's stock valued at $2,695,000 after purchasing an additional 1,110 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of PAR Technology by 164.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 30,177 shares of the software maker's stock worth $2,193,000 after buying an additional 18,763 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in shares of PAR Technology by 10,370.0% during the fourth 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.

Insider Activity at PAR Technology

In related news, Director Douglas Gregory Rauch sold 1,000 shares of PAR Technology stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $69.98, for a total value of $69,980.00. Following the completion of the sale, the director owned 11,760 shares of the company's stock, valued at approximately $822,964.80. The trade was a 7.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PAR has been the subject of several research analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $90.00 price objective on shares of PAR Technology in a research note on Friday, July 11th. 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, PAR Technology has a consensus rating of "Moderate Buy" and a consensus target price of $79.86.

PAR Technology Stock Down 19.1%

Shares of PAR traded down $11.08 during midday trading on Friday, reaching $46.95. 5,339,499 shares of the stock were exchanged, compared to its average volume of 400,226. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -20.87 and a beta of 1.70. The company has a quick ratio of 1.83, a current ratio of 2.05 and a debt-to-equity ratio of 0.46. PAR Technology Corporation has a 12-month low of $46.38 and a 12-month high of $82.24. The firm has a 50 day simple moving average of $65.62 and a 200-day simple moving average of $64.14.

PAR Technology (NYSE:PAR - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The software maker reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $112.40 million for the quarter, compared to the consensus estimate of $111.02 million. PAR Technology had a negative net margin of 2.88% and a negative return on equity of 3.90%. PAR Technology's revenue was up 43.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.23) EPS. Research analysts forecast that PAR Technology Corporation will post -1.47 EPS for the current year.

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.