PAR Technology Corporation $PAR Shares Purchased by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in PAR Technology Corporation by 415.9%, acquiring an additional 34,837 shares, bringing its total holdings to 43,213 shares worth approximately $2.65 million.
• Multiple hedge funds have also significantly increased their positions in PAR Technology, with Envestnet Asset Management Inc. and Tower Research Capital LLC TRC raising their stakes by 164.4% and 171.1%, respectively.
• PAR Technology's latest earnings report showed a revenue increase of 43.8% year-over-year, reporting $112.40 million, although it missed EPS estimates, posting $0.03 per share.

Russell Investments Group Ltd. grew its stake in PAR Technology Corporation (NYSE:PAR - Free Report) by 415.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 43,213 shares of the software maker's stock after buying an additional 34,837 shares during the quarter. Russell Investments Group Ltd. owned 0.11% of PAR Technology worth $2,651,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Versant Capital Management Inc lifted its holdings 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 buying an additional 588 shares during the period. NBC Securities Inc. acquired a new position in shares of PAR Technology in the 1st quarter valued at about $40,000. GAMMA Investing LLC lifted its holdings 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 buying an additional 488 shares during the period. Assetmark Inc. lifted its holdings 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 buying an additional 485 shares during the period. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in shares of PAR Technology in the 1st quarter valued at about $72,000.

PAR Technology Price Performance

NYSE:PAR traded down $1.29 during trading hours on Friday, hitting $51.14. 520,346 shares of the stock were exchanged, compared to its average volume of 1,140,368. The firm's fifty day moving average price is $61.74 and its 200 day moving average price is $62.07. PAR Technology Corporation has a 52-week low of $46.24 and a 52-week high of $82.24. The company has a market cap of $2.08 billion, a P/E ratio of -22.73 and a beta of 1.70. The company has a current ratio of 1.70, a quick ratio of 1.49 and a debt-to-equity ratio of 0.43.

PAR Technology (NYSE:PAR - Get Free Report) last issued its quarterly 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 firm had revenue of $112.40 million during the quarter, compared to analyst estimates of $111.02 million. PAR Technology had a negative return on equity of 3.16% and a negative net margin of 20.64%.The business's revenue was up 43.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.23) earnings per share. As a group, equities research analysts anticipate that PAR Technology Corporation will post -1.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PAR has been the subject of several analyst reports. BTIG Research raised PAR Technology from a "neutral" rating to a "buy" rating and set a $65.00 price objective for the company in a report on Friday, August 15th. Needham & Company LLC reissued a "buy" rating and issued a $90.00 price objective on shares of PAR Technology in a report on Friday, July 11th. The Goldman Sachs Group lifted their price target on PAR Technology from $57.00 to $65.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Finally, Benchmark cut their price target on PAR Technology from $92.00 to $77.00 and set a "buy" rating for the company in a research note on Tuesday, August 19th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price 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.