Progeny 3 Inc. Boosts Position in PAR Technology Co. (NYSE:PAR)

Progeny 3 Inc. lifted its stake in shares of PAR Technology Co. (NYSE:PAR) by 10.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,320,858 shares of the software maker’s stock after acquiring an additional 129,810 shares during the quarter. PAR Technology makes up approximately 6.0% of Progeny 3 Inc.’s holdings, making the stock its 6th biggest position. Progeny 3 Inc. owned about 3.89% of PAR Technology worth $62,199,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Magnolia Capital Advisors LLC purchased a new stake in PAR Technology in the 2nd quarter worth $3,881,000. The Manufacturers Life Insurance Company raised its stake in PAR Technology by 25.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,161 shares of the software maker’s stock valued at $761,000 after purchasing an additional 3,241 shares during the period. Squarepoint Ops LLC lifted its holdings in PAR Technology by 109.9% in the 2nd quarter. Squarepoint Ops LLC now owns 111,047 shares of the software maker’s stock worth $5,229,000 after purchasing an additional 58,139 shares in the last quarter. K2 Principal Fund L.P. boosted its position in shares of PAR Technology by 208.1% during the second quarter. K2 Principal Fund L.P. now owns 100,940 shares of the software maker’s stock worth $4,753,000 after acquiring an additional 68,176 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of PAR Technology by 34.6% during the 2nd quarter. Sei Investments Co. now owns 29,176 shares of the software maker’s stock valued at $1,374,000 after purchasing an additional 7,498 shares during the last quarter.

Analysts Set New Price Targets

A number of research firms have issued reports on PAR. Stephens raised PAR Technology from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $46.00 to $60.00 in a research note on Thursday, June 13th. Needham & Company LLC lifted their price target on PAR Technology from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. The Goldman Sachs Group increased their price target on PAR Technology from $45.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Jefferies Financial Group raised shares of PAR Technology from a “hold” rating to a “buy” rating and raised their price objective for the stock from $45.00 to $60.00 in a research note on Monday, August 12th. Finally, StockNews.com raised PAR Technology to a “sell” rating in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

PAR Technology Stock Performance

Shares of NYSE:PAR opened at $52.75 on Monday. The firm’s 50 day simple moving average is $52.97 and its 200-day simple moving average is $47.62. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.80 and a current ratio of 3.12. PAR Technology Co. has a one year low of $28.21 and a one year high of $58.57. The firm has a market cap of $1.79 billion, a PE ratio of -20.53 and a beta of 2.17.

PAR Technology (NYSE:PAR) last released its quarterly earnings data on Thursday, August 8th. The software maker reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.05). PAR Technology had a negative return on equity of 10.93% and a net margin of 0.44%. The firm had revenue of $78.20 million for the quarter, compared to analysts’ expectations of $115.14 million. During the same quarter in the previous year, the business earned ($0.65) earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, equities analysts predict that PAR Technology Co. will post -1.67 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.