PNC Financial Services Group Inc. Increases Holdings in PAR Technology Corporation $PAR

PNC Financial Services Group Inc. lifted its position in PAR Technology Corporation (NYSE:PAR) by 1,787.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,247 shares of the software maker’s stock after purchasing an additional 3,075 shares during the quarter. PNC Financial Services Group Inc.’s holdings in PAR Technology were worth $199,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PAR. Envestnet Asset Management Inc. raised its position in PAR Technology by 164.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 30,177 shares of the software maker’s stock valued at $2,193,000 after acquiring an additional 18,763 shares in the last quarter. Russell Investments Group Ltd. raised its position in PAR Technology by 10,370.0% during the fourth quarter. Russell Investments Group Ltd. now owns 8,376 shares of the software maker’s stock valued at $609,000 after acquiring an additional 8,296 shares in the last quarter. Raymond James Financial Inc. purchased a new position in PAR Technology during the fourth quarter valued at approximately $2,067,000. Mariner LLC raised its position in PAR Technology by 14.1% during the fourth quarter. Mariner LLC now owns 24,603 shares of the software maker’s stock valued at $1,788,000 after acquiring an additional 3,039 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in PAR Technology by 900.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 3,000 shares of the software maker’s stock valued at $218,000 after acquiring an additional 2,700 shares in the last quarter.

Wall Street Analysts Forecast Growth

PAR has been the subject of several recent research reports. BTIG Research upgraded 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. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of PAR Technology in a research report on Friday, July 11th. Finally, The Goldman Sachs Group lifted their price target on shares of PAR Technology from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $80.57.

Insider Activity

In related news, Director Douglas Gregory Rauch sold 1,000 shares of the business’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $69.98, for a total transaction of $69,980.00. Following the transaction, the director directly 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 can be accessed through the SEC website. 3.70% of the stock is currently owned by company insiders.

PAR Technology Stock Up 1.3%

Shares of NYSE PAR opened at $52.49 on Monday. The company’s 50-day simple moving average is $64.11 and its 200-day simple moving average is $63.33. PAR Technology Corporation has a 52-week low of $46.24 and a 52-week high of $82.24. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of -23.33 and a beta of 1.70. The company has a quick ratio of 1.49, a current ratio of 1.70 and a debt-to-equity ratio of 0.43.

PAR Technology (NYSE:PAR) last announced 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). PAR Technology had a negative net margin of 20.64% and a negative return on equity of 3.16%. The company had revenue of $112.40 million during the quarter, compared to analyst estimates of $111.02 million. During the same quarter last year, the business earned ($0.23) EPS. The firm’s revenue for the quarter was up 43.8% compared to the same quarter last year. Equities analysts predict that PAR Technology Corporation will post -1.47 EPS for the current fiscal 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.