Envestnet Asset Management Inc. Boosts Stock Position in PAR Technology Corporation (NYSE:PAR)

Key Points

• Envestnet Asset Management Inc. has increased its stake in PAR Technology Corporation by 48% during the first quarter, holding a total of 44,673 shares valued at approximately $2.74 million.
• PAR Technology's stock has received a consensus rating of "Moderate Buy" from analysts, with a price target averaging around $79.86, as six analysts have issued buy ratings.
• Despite a quarterly revenue of $103.86 million, PAR Technology reported a negative net margin of -2.88%, though the revenue reflects a year-over-year increase of 48.2%.

Envestnet Asset Management Inc. lifted its holdings in PAR Technology Corporation (NYSE:PAR - Free Report) by 48.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 44,673 shares of the software maker's stock after purchasing an additional 14,496 shares during the period. Envestnet Asset Management Inc. owned about 0.11% of PAR Technology worth $2,740,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in shares of PAR Technology by 8,631.3% in the 1st quarter. Farther Finance Advisors LLC now owns 1,397 shares of the software maker's stock worth $86,000 after purchasing an additional 1,381 shares during the period. Ameriprise Financial Inc. bought a new stake in PAR Technology during the 4th quarter worth approximately $350,000. Deutsche Bank AG raised its stake in PAR Technology by 97.2% during the 4th quarter. Deutsche Bank AG now owns 38,863 shares of the software maker's stock worth $2,824,000 after acquiring an additional 19,159 shares during the period. GAMMA Investing LLC raised its stake in PAR Technology by 232.4% during the 1st quarter. GAMMA Investing LLC now owns 698 shares of the software maker's stock worth $43,000 after acquiring an additional 488 shares during the period. Finally, LPL Financial LLC raised its stake in PAR Technology by 201.4% during the 4th quarter. LPL Financial LLC now owns 88,991 shares of the software maker's stock worth $6,467,000 after acquiring an additional 59,469 shares during the period.

Insider Transactions at PAR Technology

In related news, Director Douglas Gregory Rauch sold 1,000 shares of the firm's 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 transaction, the director directly owned 11,760 shares of the company's stock, valued at approximately $822,964.80. This trade represents a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.70% of the stock is currently owned by company insiders.

PAR Technology Price Performance

PAR traded down $0.65 during trading on Thursday, reaching $61.51. 91,908 shares of the company traded hands, compared to its average volume of 427,797. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.83 and a current ratio of 2.05. PAR Technology Corporation has a 12-month low of $43.50 and a 12-month high of $82.24. The firm has a fifty day simple moving average of $66.80 and a 200 day simple moving average of $64.93. The company has a market cap of $2.49 billion, a P/E ratio of -473.04 and a beta of 1.69.

PAR Technology (NYSE:PAR - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.04. PAR Technology had a negative net margin of 2.88% and a negative return on equity of 3.90%. The business had revenue of $103.86 million during the quarter, compared to analyst estimates of $105.16 million. During the same period last year, the firm posted ($0.36) EPS. The company's revenue was up 48.2% on a year-over-year basis. On average, equities analysts forecast that PAR Technology Corporation will post -1.47 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Needham & Company LLC restated a "buy" rating and set a $90.00 target price on shares of PAR Technology in a research note on Friday, July 11th. The Goldman Sachs Group raised their target price on shares of PAR Technology from $57.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, PAR Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.86.

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.