Teachers Retirement System of The State of Kentucky Makes New Investment in PAR Technology Corporation (NYSE:PAR)

Key Points

• The Teachers Retirement System of The State of Kentucky made a new investment in PAR Technology Corporation, acquiring 12,135 shares valued at approximately $744,000.
• PAR Technology recently reported a negative earnings per share of ($0.01) for the last quarter, which exceeded analysts' expectations of ($0.05), while revenue increased by 48.2% year-over-year.
• Wall Street analysts have mixed opinions on PAR Technology, with a current average rating of "Moderate Buy" and a price target of $79.86.

Teachers Retirement System of The State of Kentucky acquired a new position in PAR Technology Corporation (NYSE:PAR - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 12,135 shares of the software maker's stock, valued at approximately $744,000.

A number of other institutional investors have also made changes to their positions in PAR. Victory Capital Management Inc. grew its position in PAR Technology by 7.8% during the first quarter. Victory Capital Management Inc. now owns 4,752 shares of the software maker's stock worth $291,000 after buying an additional 343 shares in the last quarter. TimesSquare Capital Management LLC grew its position in PAR Technology by 11.6% during the first quarter. TimesSquare Capital Management LLC now owns 453,925 shares of the software maker's stock worth $27,844,000 after buying an additional 47,340 shares in the last quarter. Envestnet Asset Management Inc. grew its position in PAR Technology by 48.0% during the first quarter. Envestnet Asset Management Inc. now owns 44,673 shares of the software maker's stock worth $2,740,000 after buying an additional 14,496 shares in the last quarter. OneDigital Investment Advisors LLC grew its position in PAR Technology by 4.2% during the first quarter. OneDigital Investment Advisors LLC now owns 10,733 shares of the software maker's stock worth $658,000 after buying an additional 432 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in PAR Technology during the first quarter worth about $326,000.

Insider Activity

In other news, Director Douglas Gregory Rauch sold 1,000 shares of PAR Technology stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $69.98, for a total value of $69,980.00. Following the completion of the transaction, the director owned 11,760 shares in the company, valued at approximately $822,964.80. The trade was a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.70% of the company's stock.

PAR Technology Price Performance

NYSE PAR traded down $1.92 during trading on Tuesday, reaching $66.08. 67,772 shares of the company traded hands, compared to its average volume of 426,513. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.83 and a current ratio of 2.05. The stock's 50 day moving average price is $66.98 and its two-hundred day moving average price is $64.96. The company has a market cap of $2.68 billion, a price-to-earnings ratio of -508.28 and a beta of 1.69. PAR Technology Corporation has a 1-year low of $43.50 and a 1-year high of $82.24.

PAR Technology (NYSE:PAR - Get Free Report) last posted its earnings results on Friday, May 9th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.04. PAR Technology had a negative net margin of 2.88% and a negative return on equity of 3.90%. The company had revenue of $103.86 million during the quarter, compared to analysts' expectations of $105.16 million. During the same quarter in the previous year, the company posted ($0.36) earnings per share. PAR Technology's quarterly revenue was up 48.2% compared to the same quarter last year. As a group, analysts anticipate that PAR Technology Corporation will post -1.47 EPS for the current year.

Wall Street Analysts Forecast Growth

PAR has been the topic of a number of recent research reports. The Goldman Sachs Group lifted their target price on PAR Technology from $57.00 to $65.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. Needham & Company LLC reissued a "buy" rating and set a $90.00 target price on shares of PAR Technology in a research report on Friday, July 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, PAR Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.86.

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.