Magnetar Financial LLC Takes $407,000 Position in PAR Technology Corporation $PAR

Key Points

• Magnetar Financial LLC has acquired a new position in PAR Technology Corporation, purchasing 6,642 shares valued at approximately $407,000.
• Several institutional investors significantly increased their stakes in PAR Technology, with Nuveen LLC investing $24.5 million and Voss Capital LP raising its holdings by 16.9%.
• Analysts have mixed views on PAR Technology's stock, with the current consensus rating being a Moderate Buy and an average target price of $78.43.

Magnetar Financial LLC purchased a new position in shares of PAR Technology Corporation (NYSE:PAR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,642 shares of the software maker's stock, valued at approximately $407,000.

A number of other large investors also recently bought and sold shares of PAR. Caitong International Asset Management Co. Ltd raised its stake in PAR Technology by 8,616.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the software maker's stock worth $32,000 after purchasing an additional 517 shares during the period. Versant Capital Management Inc raised its stake in shares of PAR Technology by 996.6% in the 1st quarter. Versant Capital Management Inc now owns 647 shares of the software maker's stock valued at $40,000 after acquiring an additional 588 shares during the period. NBC Securities Inc. purchased a new position in shares of PAR Technology in the 1st quarter valued at $40,000. GAMMA Investing LLC raised its stake in shares of PAR Technology by 232.4% in the 1st quarter. GAMMA Investing LLC now owns 698 shares of the software maker's stock valued at $43,000 after acquiring an additional 488 shares during the period. Finally, Assetmark Inc. raised its stake in shares of PAR Technology by 161.7% in the 1st quarter. Assetmark Inc. now owns 785 shares of the software maker's stock valued at $48,000 after acquiring an additional 485 shares during the period.

PAR Technology Stock Up 0.6%

Shares of PAR traded up $0.27 during midday trading on Friday, hitting $48.39. The company had a trading volume of 899,211 shares, compared to its average volume of 1,151,175. The company's 50 day moving average price is $59.95 and its 200 day moving average price is $61.46. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -21.50 and a beta of 1.64. PAR Technology Corporation has a 52 week low of $46.24 and a 52 week 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.

PAR Technology (NYSE:PAR - Get Free Report) last released its earnings results 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). PAR Technology had a negative return on equity of 3.16% and a negative net margin of 20.64%.The company had revenue of $112.40 million during the quarter, compared to the consensus estimate of $111.02 million. During the same period in the previous year, the firm posted ($0.23) EPS. PAR Technology's revenue for the quarter was up 43.8% on a year-over-year basis. On average, equities research analysts predict that PAR Technology Corporation will post -1.47 EPS for the current year.

Wall Street Analyst Weigh In

PAR has been the topic of a number of research reports. Needham & Company LLC reissued a "buy" rating and issued a $90.00 target price on shares of PAR Technology in a research note 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 research note on Friday, August 15th. Benchmark cut their target price on shares of PAR Technology from $92.00 to $77.00 and set a "buy" rating on the stock in a research note on Tuesday, August 19th. Finally, The Goldman Sachs Group lifted their price target 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. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently 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.