Oppenheimer Asset Management Inc. Takes $308,000 Position in PAR Technology Co. (NYSE:PAR)

Oppenheimer Asset Management Inc. bought a new position in shares of PAR Technology Co. (NYSE:PAR) during the third quarter, Holdings Channel.com reports. The fund bought 5,908 shares of the software maker’s stock, valued at approximately $308,000.

A number of other large investors have also made changes to their positions in the stock. Janney Montgomery Scott LLC bought a new stake in PAR Technology in the 1st quarter valued at $242,000. ProShare Advisors LLC acquired a new position in PAR Technology during the 1st quarter worth $222,000. State Board of Administration of Florida Retirement System lifted its stake in shares of PAR Technology by 8.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 8,212 shares of the software maker’s stock valued at $372,000 after acquiring an additional 610 shares during the period. Vanguard Group Inc. grew its position in shares of PAR Technology by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 2,159,383 shares of the software maker’s stock worth $97,950,000 after buying an additional 50,793 shares during the period. Finally, Capital Research Global Investors boosted its stake in PAR Technology by 43.4% in the first quarter. Capital Research Global Investors now owns 3,530,843 shares of the software maker’s stock valued at $155,670,000 after acquiring an additional 1,068,641 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PAR. The Goldman Sachs Group raised their target price on PAR Technology from $59.00 to $71.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Needham & Company LLC increased their target price on PAR Technology from $66.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Craig Hallum lifted their price objective on shares of PAR Technology from $65.00 to $85.00 and gave the company a “buy” rating in a report on Monday, November 11th. Jefferies Financial Group raised PAR Technology from a “hold” rating to a “buy” rating and lifted their target price for the company from $45.00 to $60.00 in a research report on Monday, August 12th. Finally, Benchmark upped their price target on shares of PAR Technology from $69.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.38.

PAR Technology Trading Up 1.5 %

Shares of PAR Technology stock opened at $76.06 on Thursday. The firm has a 50-day moving average of $59.97 and a 200-day moving average of $52.54. PAR Technology Co. has a 52-week low of $36.16 and a 52-week high of $76.37. The stock has a market cap of $2.76 billion, a PE ratio of -304.24 and a beta of 2.14. 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 quarterly earnings results on Friday, November 8th. The software maker reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The company had revenue of $96.80 million for the quarter, compared to analysts’ expectations of $91.01 million. PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. PAR Technology’s revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.35) earnings per share. As a group, sell-side analysts forecast that PAR Technology Co. will post -1.67 EPS for the current 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.