Geode Capital Management LLC Increases Stock Position in PAR Technology Co. (NYSE:PAR)

Geode Capital Management LLC increased its holdings in shares of PAR Technology Co. (NYSE:PAR) by 11.1% during the third quarter, Holdings Channel.com reports. The firm owned 819,035 shares of the software maker’s stock after buying an additional 81,551 shares during the period. Geode Capital Management LLC’s holdings in PAR Technology were worth $42,664,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Progeny 3 Inc. boosted its position in PAR Technology by 10.9% during the 2nd quarter. Progeny 3 Inc. now owns 1,320,858 shares of the software maker’s stock valued at $62,199,000 after acquiring an additional 129,810 shares in the last quarter. Royce & Associates LP lifted its stake in shares of PAR Technology by 2.6% during the 3rd quarter. Royce & Associates LP now owns 1,184,279 shares of the software maker’s stock worth $61,677,000 after purchasing an additional 30,000 shares during the last quarter. Bamco Inc. NY boosted its position in PAR Technology by 15.2% during the third quarter. Bamco Inc. NY now owns 1,170,908 shares of the software maker’s stock valued at $60,981,000 after purchasing an additional 154,921 shares in the last quarter. Reinhart Partners LLC. grew its stake in PAR Technology by 6.4% in the third quarter. Reinhart Partners LLC. now owns 946,773 shares of the software maker’s stock valued at $49,308,000 after purchasing an additional 57,049 shares during the last quarter. Finally, State Street Corp raised its holdings in PAR Technology by 1.2% in the third quarter. State Street Corp now owns 885,338 shares of the software maker’s stock worth $46,108,000 after purchasing an additional 10,582 shares in the last quarter.

PAR Technology Trading Down 3.1 %

Shares of NYSE:PAR opened at $73.73 on Tuesday. The company has a market capitalization of $2.68 billion, a PE ratio of -294.91 and a beta of 2.19. PAR Technology Co. has a 12-month low of $37.74 and a 12-month high of $82.24. The business has a 50 day moving average of $70.97 and a two-hundred day moving average of $58.01. The company has a current ratio of 2.13, a quick ratio of 1.91 and a debt-to-equity ratio of 0.67.

PAR Technology (NYSE:PAR) last posted its earnings results on Friday, November 8th. The software maker reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. The firm had revenue of $96.80 million during the quarter, compared to analysts’ expectations of $91.01 million. PAR Technology had a negative net margin of 0.66% and a negative return on equity of 8.99%. The business’s revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.35) EPS. As a group, analysts forecast that PAR Technology Co. will post -1.47 EPS for the current year.

Analyst Upgrades and Downgrades

PAR has been the topic of a number of recent analyst reports. Craig Hallum raised their price target 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. Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of PAR Technology in a research note on Tuesday, November 26th. Benchmark upped their price target on PAR Technology from $69.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Lake Street Capital raised their price objective on PAR Technology from $57.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, The Goldman Sachs Group upped their target price on PAR Technology from $71.00 to $79.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $79.25.

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.