Vanguard Group Inc. Has $177.77 Million Stock Holdings in PAR Technology Corporation $PAR

Key Points

• Vanguard Group Inc. increased its stake in PAR Technology Corporation by 2.5%, owning approximately 7.16% of the company, valued at about $177.77 million.
• PAR Technology recently reported a 43.8% increase in revenue year-over-year, although it fell short of earnings per share estimates, reporting $0.03 against expectations of $0.04.
• The stock has a consensus rating of "Moderate Buy" with an average target price of $78.43 from analysts, who have adjusted their price objectives based on recent evaluations.

Vanguard Group Inc. boosted its position in PAR Technology Corporation (NYSE:PAR - Free Report) by 2.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,898,114 shares of the software maker's stock after purchasing an additional 69,546 shares during the period. Vanguard Group Inc. owned approximately 7.16% of PAR Technology worth $177,770,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in PAR. Hood River Capital Management LLC acquired a new stake in PAR Technology in the fourth quarter worth approximately $30,392,000. GW&K Investment Management LLC bought a new position in shares of PAR Technology in the first quarter valued at $24,018,000. Nuveen Asset Management LLC increased its holdings in shares of PAR Technology by 194.2% in the fourth quarter. Nuveen Asset Management LLC now owns 400,251 shares of the software maker's stock valued at $29,086,000 after buying an additional 264,188 shares in the last quarter. Granahan Investment Management LLC increased its holdings in shares of PAR Technology by 115.5% in the fourth quarter. Granahan Investment Management LLC now owns 347,916 shares of the software maker's stock valued at $25,283,000 after buying an additional 186,490 shares in the last quarter. Finally, Fred Alger Management LLC increased its holdings in shares of PAR Technology by 146.1% in the fourth quarter. Fred Alger Management LLC now owns 311,841 shares of the software maker's stock valued at $22,661,000 after buying an additional 185,107 shares in the last quarter.

PAR Technology Stock Up 6.5%

Shares of PAR traded up $3.3370 during mid-day trading on Friday, reaching $54.5370. The company's stock had a trading volume of 650,152 shares, compared to its average volume of 1,094,834. The business has a fifty day moving average of $62.83 and a 200 day moving average of $62.77. The company has a market cap of $2.21 billion, a price-to-earnings ratio of -24.24 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.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). The business 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%. PAR Technology's revenue for the quarter was up 43.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.23) EPS. As a group, analysts forecast that PAR Technology Corporation will post -1.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

PAR Technology 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.