Connor Clark & Lunn Investment Management Ltd. Boosts Position in PAR Technology Corporation (NYSE:PAR)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in PAR Technology by 10.3%, owning 95,240 shares valued at approximately $5.84 million as of the most recent quarter.
• PAR Technology's stock rating is a "Moderate Buy" with an average target price of $83.17, though analysts highlight mixed ratings with one sell and five buy ratings.
• The company's recent earnings report showed a revenue increase of 43.8% year-over-year, but the earnings per share fell short of analyst expectations.

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in PAR Technology Corporation (NYSE:PAR - Free Report) by 10.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,240 shares of the software maker's stock after buying an additional 8,895 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.24% of PAR Technology worth $5,842,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake 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 acquiring an additional 69,546 shares during the last quarter. Reinhart Partners LLC. raised its holdings in PAR Technology by 15.0% in the 1st quarter. Reinhart Partners LLC. now owns 858,843 shares of the software maker's stock valued at $52,681,000 after buying an additional 112,183 shares during the period. Dimensional Fund Advisors LP grew its position in PAR Technology by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 660,496 shares of the software maker's stock valued at $48,000,000 after acquiring an additional 26,008 shares in the last quarter. TimesSquare Capital Management LLC boosted its holdings in PAR Technology by 11.6% in the first quarter. TimesSquare Capital Management LLC now owns 453,925 shares of the software maker's stock valued at $27,844,000 after purchasing an additional 47,340 shares in the last quarter. Finally, Hood River Capital Management LLC acquired a new stake in shares of PAR Technology in the fourth quarter valued at approximately $30,392,000.

PAR Technology Price Performance

Shares of PAR Technology stock traded up $0.69 on Thursday, hitting $51.90. 1,588,602 shares of the company traded hands, compared to its average volume of 905,187. The firm's 50-day simple moving average is $64.39 and its 200 day simple moving average is $63.60. The company has a current ratio of 1.70, a quick ratio of 1.83 and a debt-to-equity ratio of 0.43. The company has a market cap of $2.11 billion, a P/E ratio of -23.07 and a beta of 1.70. PAR Technology Corporation has a 12-month low of $46.24 and a 12-month high of $82.24.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on PAR shares. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 price objective on shares of PAR Technology in a research note on Friday, July 11th. The Goldman Sachs Group boosted their price objective on PAR Technology from $57.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $83.17.

Insider Buying and Selling

In other news, Director Douglas Gregory Rauch sold 1,000 shares of PAR Technology stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $69.98, for a total transaction of $69,980.00. Following the completion of the transaction, the director directly owned 11,760 shares of the company's stock, valued at $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 available through the SEC website. 3.70% of the stock is owned by company insiders.

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.