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 raised its holdings in PAR Technology Corporation (NYSE:PAR - Free Report) by 317.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,666 shares of the software maker's stock after buying an additional 11,915 shares during the period. Versor Investments LP's holdings in PAR Technology were worth $961,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PAR. Hood River Capital Management LLC acquired a new stake in PAR Technology in the 4th quarter valued at $30,392,000. Nuveen LLC acquired a new stake in PAR Technology in the 1st quarter valued at $24,500,000. GW&K Investment Management LLC acquired a new stake in PAR Technology in the 1st quarter valued at $24,018,000. Nuveen Asset Management LLC increased its stake in PAR Technology by 194.2% in the 4th quarter. Nuveen Asset Management LLC now owns 400,251 shares of the software maker's stock valued at $29,086,000 after buying an additional 264,188 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of PAR Technology by 17.8% during the 1st quarter. Invesco Ltd. now owns 1,512,347 shares of the software maker's stock worth $92,767,000 after purchasing an additional 228,369 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have recently weighed in on PAR. Benchmark lowered their price objective on shares of PAR Technology from $92.00 to $77.00 and set a "buy" rating on the stock in a research note on Tuesday. Needham & Company LLC restated a "buy" rating and set a $90.00 price objective on shares of PAR Technology in a research note on Friday, July 11th. BTIG Research upgraded shares of PAR Technology from a "neutral" rating to a "buy" rating and set a $65.00 price objective on the stock in a research note on Friday, August 15th. Finally, The Goldman Sachs Group boosted their price objective on shares of PAR Technology from $57.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, PAR Technology presently has an average rating of "Moderate Buy" and a consensus price target of $78.43.

PAR Technology Stock Performance

Shares of PAR stock traded up $3.3370 during midday trading on Friday, hitting $54.5370. 650,152 shares of the company were exchanged, compared to its average volume of 1,094,834. The firm 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 debt-to-equity ratio of 0.43, a quick ratio of 1.49 and a current ratio of 1.70. The firm's 50 day moving average price is $62.83 and its two-hundred day moving average price is $62.77. PAR Technology Corporation has a 52 week low of $46.24 and a 52 week high of $82.24.

PAR Technology (NYSE:PAR - Get Free Report) last announced its earnings results on Friday, August 8th. The software maker reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $112.40 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 43.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.23) EPS. As a group, equities research analysts anticipate that PAR Technology Corporation will post -1.47 earnings per share for the current year.

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.