Franklin Resources Inc. Grows Stake in PAR Technology Co. (NYSE:PAR)

Franklin Resources Inc. increased its stake in shares of PAR Technology Co. (NYSE:PAR) by 6.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,968 shares of the software maker’s stock after purchasing an additional 932 shares during the period. Franklin Resources Inc.’s holdings in PAR Technology were worth $903,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Arcadia Investment Management Corp MI purchased a new stake in shares of PAR Technology during the second quarter worth about $32,000. Amalgamated Bank boosted its stake in PAR Technology by 25.5% during the 2nd quarter. Amalgamated Bank now owns 1,166 shares of the software maker’s stock valued at $55,000 after acquiring an additional 237 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of PAR Technology in the 3rd quarter worth about $125,000. Principal Financial Group Inc. acquired a new stake in shares of PAR Technology in the 2nd quarter valued at about $211,000. Finally, Victory Capital Management Inc. lifted its position in shares of PAR Technology by 5.1% during the third quarter. Victory Capital Management Inc. now owns 4,524 shares of the software maker’s stock worth $236,000 after purchasing an additional 219 shares during the last quarter.

PAR Technology Stock Performance

PAR opened at $73.28 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.13 and a quick ratio of 1.91. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of -293.11 and a beta of 2.20. The business has a 50 day moving average price of $72.17 and a two-hundred day moving average price of $58.85. PAR Technology Co. has a 1-year low of $37.74 and a 1-year high of $82.24.

PAR Technology (NYSE:PAR) last issued its quarterly earnings results on Friday, November 8th. The software maker reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The company had revenue of $96.80 million during the quarter, compared to the consensus estimate of $91.01 million. PAR Technology had a negative net margin of 0.66% and a negative return on equity of 8.99%. PAR Technology’s revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.35) EPS. Research analysts predict that PAR Technology Co. will post -1.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Lake Street Capital boosted their price objective on PAR Technology from $57.00 to $77.00 and gave the company a “buy” rating in a report on Monday, November 11th. Benchmark raised their price target on PAR Technology from $69.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. The Goldman Sachs Group boosted their price target on shares of PAR Technology from $71.00 to $79.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Stephens boosted their target price on shares of PAR Technology from $83.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of PAR Technology in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.