Russell Investments Group Ltd. Acquires 34,837 Shares of PAR Technology Corporation $PAR

Russell Investments Group Ltd. boosted its holdings in PAR Technology Corporation (NYSE:PAR) by 415.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,213 shares of the software maker’s stock after purchasing an additional 34,837 shares during the period. Russell Investments Group Ltd. owned approximately 0.11% of PAR Technology worth $2,651,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in PAR. Envestnet Asset Management Inc. lifted its stake in PAR Technology by 164.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 30,177 shares of the software maker’s stock worth $2,193,000 after purchasing an additional 18,763 shares during the last quarter. Raymond James Financial Inc. bought a new stake in PAR Technology in the fourth quarter worth $2,067,000. CANADA LIFE ASSURANCE Co lifted its stake in PAR Technology by 9.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 10,909 shares of the software maker’s stock worth $792,000 after purchasing an additional 953 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in PAR Technology by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 660,496 shares of the software maker’s stock worth $48,000,000 after purchasing an additional 26,008 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in PAR Technology by 171.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,308 shares of the software maker’s stock worth $386,000 after purchasing an additional 3,350 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PAR shares. BTIG Research raised shares of PAR Technology from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Friday, August 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of PAR Technology in a research note on Friday, July 11th. The Goldman Sachs Group upped their price objective 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. Finally, Benchmark lowered their price objective on shares of PAR Technology from $92.00 to $77.00 and set a “buy” rating for the company in a research note on Tuesday, August 19th. Six research 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $78.43.

PAR Technology Price Performance

PAR stock opened at $54.5370 on Monday. PAR Technology Corporation has a 1 year low of $46.24 and a 1 year high of $82.24. The company has a market cap of $2.21 billion, a P/E ratio of -24.24 and a beta of 1.70. The firm has a 50-day moving average of $62.83 and a 200 day moving average of $62.64. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.70 and a quick ratio of 1.49.

PAR Technology (NYSE:PAR) last released its quarterly earnings results on Friday, August 8th. The software maker reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). PAR Technology had a negative return on equity of 3.16% and a negative net margin of 20.64%.The company 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 company earned ($0.23) earnings per share. PAR Technology’s quarterly revenue was up 43.8% on a year-over-year basis. On average, sell-side analysts forecast that PAR Technology Corporation 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.