PAR Technology Corporation $PAR Position Boosted by Resolute Capital Asset Partners LLC

Key Points

• Resolute Capital Asset Partners LLC increased its stake in PAR Technology Corporation by 58.9%, now holding 103,300 shares valued at approximately $6.34 million, making it the firm’s 7th largest investment.
• Analyst ratings for PAR Technology indicate a consensus of "Moderate Buy" with a price target of approximately $78.43, while recent upgrades include Goldman Sachs raising their target to $65.00.
• PAR Technology reported quarterly earnings of $0.03 per share, missing analyst estimates, but experienced a 43.8% year-over-year revenue increase to $112.40 million.

Resolute Capital Asset Partners LLC raised its position in shares of PAR Technology Corporation (NYSE:PAR - Free Report) by 58.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 103,300 shares of the software maker's stock after purchasing an additional 38,300 shares during the quarter. PAR Technology accounts for about 3.6% of Resolute Capital Asset Partners LLC's investment portfolio, making the stock its 7th biggest holding. Resolute Capital Asset Partners LLC owned 0.26% of PAR Technology worth $6,336,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its holdings in shares of PAR Technology by 8,616.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the software maker's stock valued at $32,000 after acquiring an additional 517 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of PAR Technology by 996.6% during 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 last quarter. NBC Securities Inc. purchased a new stake in shares of PAR Technology during the 1st quarter valued at about $40,000. GAMMA Investing LLC boosted its holdings in shares of PAR Technology by 232.4% during 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 last quarter. Finally, Assetmark Inc. boosted its holdings in shares of PAR Technology by 161.7% during 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 last quarter.

PAR Technology Stock Performance

Shares of PAR traded up $0.73 on Thursday, reaching $53.03. The company's stock had a trading volume of 132,610 shares, compared to its average volume of 515,271. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.70 and a quick ratio of 1.49. The stock has a market capitalization of $2.15 billion, a P/E ratio of -23.54 and a beta of 1.70. The stock's 50 day simple moving average is $62.19 and its two-hundred day simple moving average is $62.36. 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 released 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 return on equity of 3.16% and a negative net margin of 20.64%.The firm had revenue of $112.40 million for the quarter, compared to the consensus estimate of $111.02 million. During the same quarter in the previous year, the business posted ($0.23) EPS. PAR Technology's revenue was up 43.8% on a year-over-year basis. Research analysts forecast that PAR Technology Corporation will post -1.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PAR has been the topic of a number of recent analyst reports. BTIG Research raised shares of 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. The Goldman Sachs Group raised their price target on shares of PAR Technology from $57.00 to $65.00 and gave the company a "neutral" rating in a report on Monday, May 12th. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 price target on shares of PAR Technology in a report on Friday, July 11th. Finally, Benchmark dropped their price target on shares of PAR Technology from $92.00 to $77.00 and set a "buy" rating on the stock in a report on Tuesday, August 19th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, PAR Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.43.

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.