Versor Investments LP Acquires 11,915 Shares of PAR Technology Corporation $PAR

Key Points

• Versor Investments LP increased its stake in PAR Technology Corporation by 317.6% during the first quarter, acquiring 11,915 additional shares, bringing its total holdings to 15,666 shares worth approximately $961,000.
• Several institutional investors also significantly boosted their positions in PAR Technology during the same quarter, with Caitong International Asset Management increasing their stake by 8,616.7%.
• Analyst ratings on PAR Technology are largely positive, with a consensus rating of "Moderate Buy" and an average target price of $80.57, following various upgrades from different research firms.

Versor Investments LP grew its holdings in shares of PAR Technology Corporation (NYSE:PAR - Free Report) by 317.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,666 shares of the software maker's stock after acquiring an additional 11,915 shares during the period. Versor Investments LP's holdings in PAR Technology were worth $961,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PAR. Envestnet Asset Management Inc. grew its holdings in PAR Technology by 164.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 30,177 shares of the software maker's stock worth $2,193,000 after acquiring an additional 18,763 shares during the period. Russell Investments Group Ltd. grew its holdings in PAR Technology by 10,370.0% during the 4th quarter. Russell Investments Group Ltd. now owns 8,376 shares of the software maker's stock worth $609,000 after acquiring an additional 8,296 shares during the period. Raymond James Financial Inc. acquired a new stake in PAR Technology during the 4th quarter worth about $2,067,000. Mariner LLC grew its holdings in PAR Technology by 14.1% during the 4th quarter. Mariner LLC now owns 24,603 shares of the software maker's stock worth $1,788,000 after acquiring an additional 3,039 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in PAR Technology by 900.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 3,000 shares of the software maker's stock worth $218,000 after acquiring an additional 2,700 shares during the period.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PAR shares. Benchmark decreased their price target on PAR Technology from $92.00 to $77.00 and set a "buy" rating for the company in a report on Tuesday, August 19th. Needham & Company LLC restated a "buy" rating and issued a $90.00 target price on shares of PAR Technology in a research note on Friday, July 11th. The Goldman Sachs Group boosted their target price on PAR Technology from $57.00 to $65.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Finally, BTIG Research raised PAR Technology from a "neutral" rating to a "buy" rating and set a $65.00 target price for the company in a research report on Friday, August 15th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, PAR Technology currently has an average rating of "Moderate Buy" and a consensus price target of $78.43.

PAR Technology Stock Up 6.5%

PAR Technology stock traded up $3.3370 during midday trading on Friday, reaching $54.5370. The stock had a trading volume of 650,152 shares, compared to its average volume of 1,115,220. PAR Technology Corporation has a 12 month low of $46.24 and a 12 month high of $82.24. The company has a market capitalization of $2.21 billion, a P/E ratio of -24.24 and a beta of 1.70. The company has a fifty day moving average price of $62.83 and a two-hundred day moving average price of $62.64. 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 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 net margin of 20.64% and a negative return on equity of 3.16%. The firm had revenue of $112.40 million during the quarter, compared to the consensus estimate of $111.02 million. During the same period in the previous year, the firm earned ($0.23) earnings per share. The business's quarterly revenue was up 43.8% on a year-over-year basis. As a group, equities analysts expect that PAR Technology Corporation will post -1.47 EPS for the current fiscal year.

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.