Oppenheimer Asset Management Inc. Decreases Stock Holdings in PAR Technology Co. (NYSE:PAR)

Oppenheimer Asset Management Inc. lowered its stake in shares of PAR Technology Co. (NYSE:PAR) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,251 shares of the software maker’s stock after selling 657 shares during the period. Oppenheimer Asset Management Inc.’s holdings in PAR Technology were worth $382,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC acquired a new position in PAR Technology during the third quarter worth about $14,398,000. Bamco Inc. NY lifted its holdings in shares of PAR Technology by 15.2% in 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. Fred Alger Management LLC purchased a new stake in shares of PAR Technology in the third quarter valued at about $6,600,000. Geode Capital Management LLC lifted its holdings in shares of PAR Technology by 11.1% in the third quarter. Geode Capital Management LLC now owns 819,035 shares of the software maker’s stock valued at $42,664,000 after purchasing an additional 81,551 shares in the last quarter. Finally, Castleark Management LLC lifted its holdings in shares of PAR Technology by 196.0% in the third quarter. Castleark Management LLC now owns 116,370 shares of the software maker’s stock valued at $6,061,000 after purchasing an additional 77,050 shares in the last quarter.

PAR Technology Stock Performance

NYSE:PAR opened at $61.77 on Friday. The company has a quick ratio of 1.91, a current ratio of 2.13 and a debt-to-equity ratio of 0.67. The company has a market cap of $2.39 billion, a P/E ratio of -247.07 and a beta of 2.22. PAR Technology Co. has a fifty-two week low of $37.74 and a fifty-two week high of $82.24. The firm’s 50 day moving average is $69.51 and its two-hundred day moving average is $65.79.

PAR Technology (NYSE:PAR) last posted its quarterly earnings results on Friday, February 28th. The software maker reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.17). The company had revenue of $105.01 million for the quarter, compared to analysts’ expectations of $99.10 million. PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. The business’s revenue for the quarter was up 50.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.33) EPS. Analysts expect that PAR Technology Co. will post -1.47 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on PAR. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of PAR Technology in a report on Friday, February 28th. The Goldman Sachs Group upped 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 reaffirmed an “overweight” rating and issued a $90.00 price target on shares of PAR Technology in a report on Friday, February 28th. StockNews.com raised shares of PAR Technology to a “sell” rating in a report on Monday. Finally, Craig Hallum reissued a “buy” rating on shares of PAR Technology in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $79.25.

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.