Envestnet Asset Management Inc. Buys 18,763 Shares of PAR Technology Co. (NYSE:PAR)

Envestnet Asset Management Inc. raised its position in shares of PAR Technology Co. (NYSE:PAR) by 164.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,177 shares of the software maker’s stock after acquiring an additional 18,763 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.08% of PAR Technology worth $2,193,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mountain Hill Investment Partners Corp. bought a new stake in PAR Technology during the fourth quarter worth about $29,000. Signaturefd LLC lifted its holdings in shares of PAR Technology by 85.6% during the fourth quarter. Signaturefd LLC now owns 605 shares of the software maker’s stock valued at $44,000 after purchasing an additional 279 shares during the last quarter. US Bancorp DE boosted its position in shares of PAR Technology by 104.3% in the 4th quarter. US Bancorp DE now owns 668 shares of the software maker’s stock worth $49,000 after purchasing an additional 341 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of PAR Technology in the 4th quarter worth approximately $113,000. Finally, KBC Group NV grew its stake in shares of PAR Technology by 30.4% in the 4th quarter. KBC Group NV now owns 1,717 shares of the software maker’s stock worth $125,000 after buying an additional 400 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $90.00 target price on shares of PAR Technology in a report on Friday, February 28th. Craig Hallum reiterated a “buy” rating on shares of PAR Technology in a research note on Friday, February 28th. Citigroup reissued a “neutral” rating on shares of PAR Technology in a research report on Friday, February 28th. Benchmark reaffirmed a “buy” rating on shares of PAR Technology in a report on Friday, February 28th. Finally, Stephens reiterated an “overweight” rating and set a $90.00 price target on shares of PAR Technology in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $81.86.

PAR Technology Price Performance

PAR opened at $59.86 on Friday. The company’s 50-day simple moving average is $59.91 and its two-hundred day simple moving average is $67.00. PAR Technology Co. has a 52-week low of $37.74 and a 52-week high of $82.24. The stock has a market capitalization of $2.42 billion, a P/E ratio of -239.43 and a beta of 1.95. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.91 and a current ratio of 2.13.

PAR Technology (NYSE:PAR) last issued its earnings results on Friday, February 28th. The software maker reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.17). PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. The company had revenue of $105.01 million during the quarter, compared to analysts’ expectations of $99.10 million. The company’s revenue for the quarter was up 50.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.33) EPS. As a group, analysts predict that PAR Technology Co. will post -1.47 EPS for the current year.

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.