Russell Investments Group Ltd. Boosts Stake in PAR Technology Corporation $PAR

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 position in PAR Technology Corporation (NYSE:PAR - Free Report) by 415.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,213 shares of the software maker's stock after acquiring an additional 34,837 shares during the period. Russell Investments Group Ltd. owned about 0.11% of PAR Technology worth $2,651,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PAR. Versant Capital Management Inc raised its position in shares of PAR Technology by 996.6% in the first quarter. Versant Capital Management Inc now owns 647 shares of the software maker's stock worth $40,000 after acquiring an additional 588 shares during the period. NBC Securities Inc. acquired a new position in shares of PAR Technology during the 1st quarter worth about $40,000. GAMMA Investing LLC raised its position 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 worth $43,000 after purchasing an additional 488 shares during the last quarter. Assetmark Inc. raised its position in shares of PAR Technology by 161.7% during the 1st quarter. Assetmark Inc. now owns 785 shares of the software maker's stock worth $48,000 after purchasing an additional 485 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in shares of PAR Technology during the 1st quarter worth about $72,000.

PAR Technology Trading Up 0.4%

PAR stock traded up $0.19 during midday trading on Thursday, hitting $52.49. 425,144 shares of the company's stock were exchanged, compared to its average volume of 517,086. The business has a 50-day simple moving average of $62.19 and a two-hundred day simple moving average of $62.36. The company has a current ratio of 1.70, a quick ratio of 1.49 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $2.13 billion, a PE ratio of -23.33 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.

PAR Technology (NYSE:PAR - Get Free Report) last posted its earnings results on Friday, August 8th. The software maker reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $112.40 million for 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%.PAR Technology's revenue was up 43.8% compared to the same quarter last year. During the same period last year, the business earned ($0.23) EPS. On average, sell-side analysts predict that PAR Technology Corporation will post -1.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on PAR. The Goldman Sachs Group upped their price target on shares of PAR Technology from $57.00 to $65.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. BTIG Research upgraded shares of PAR Technology from a "neutral" rating to a "buy" rating and set a $65.00 price target for the company in a research report on Friday, August 15th. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 price objective on shares of PAR Technology in a research note on Friday, July 11th. Finally, Benchmark dropped their price objective on shares of 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 equities 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, the company has an average rating of "Moderate Buy" and a consensus price target 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.