KLP Kapitalforvaltning AS Acquires 1,700 Shares of PAR Technology Corporation $PAR

KLP Kapitalforvaltning AS boosted its holdings in shares of PAR Technology Corporation (NYSE:PAR) by 24.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,700 shares of the software maker’s stock after buying an additional 1,700 shares during the period. KLP Kapitalforvaltning AS’s holdings in PAR Technology were worth $604,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PAR. Nuveen LLC bought a new stake in PAR Technology during the first quarter worth about $24,500,000. GW&K Investment Management LLC purchased a new position in shares of PAR Technology during the 1st quarter worth approximately $24,018,000. Voss Capital LP grew its stake in shares of PAR Technology by 16.9% in the 1st quarter. Voss Capital LP now owns 1,706,362 shares of the software maker’s stock worth $104,668,000 after buying an additional 246,362 shares during the last quarter. Invesco Ltd. grew its stake in shares of PAR Technology by 17.8% in the 1st quarter. Invesco Ltd. now owns 1,512,347 shares of the software maker’s stock worth $92,767,000 after buying an additional 228,369 shares during the last quarter. Finally, Lord Abbett & CO. LLC purchased a new stake in PAR Technology during the 1st quarter valued at $12,554,000.

PAR Technology Price Performance

Shares of PAR Technology stock opened at $34.98 on Friday. PAR Technology Corporation has a one year low of $34.33 and a one year high of $82.24. The stock’s fifty day moving average is $44.51 and its 200 day moving average is $56.84. The stock has a market cap of $1.42 billion, a P/E ratio of -15.55 and a beta of 1.65. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.49 and a current ratio of 1.70.

PAR Technology (NYSE:PAR) last posted its quarterly 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). The business had revenue of $112.40 million for the quarter, compared to the consensus estimate of $111.02 million. PAR Technology had a negative net margin of 20.64% and a negative return on equity of 3.16%. PAR Technology’s revenue was up 43.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.23) earnings per share. Sell-side analysts anticipate that PAR Technology Corporation will post -1.47 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on PAR shares. BTIG Research upgraded PAR Technology from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Friday, August 15th. Benchmark cut their target price on PAR Technology from $92.00 to $77.00 and set a “buy” rating on the stock in a research note on Tuesday, August 19th. The Goldman Sachs Group cut their target price on PAR Technology from $50.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of PAR Technology in a research note on Friday, July 11th. Finally, William Blair reiterated an “outperform” rating on shares of PAR Technology in a research note on Tuesday. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.57.

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.