Progeny 3 Inc. Raises Stake in PAR Technology Co. (NYSE:PAR)

Progeny 3 Inc. raised its holdings in PAR Technology Co. (NYSE:PAR) by 8.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,292,348 shares of the software maker’s stock after acquiring an additional 101,300 shares during the quarter. PAR Technology accounts for about 6.0% of Progeny 3 Inc.’s portfolio, making the stock its 6th biggest holding. Progeny 3 Inc. owned 3.80% of PAR Technology worth $60,857,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Arcadia Investment Management Corp MI acquired a new position in shares of PAR Technology in the second quarter worth about $32,000. Amalgamated Bank raised 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 purchasing an additional 237 shares during the period. NBC Securities Inc. purchased a new stake in shares of PAR Technology in the first quarter valued at $76,000. Central Pacific Bank Trust Division acquired a new stake in shares of PAR Technology in the first quarter worth $78,000. Finally, LRI Investments LLC purchased a new position in shares of PAR Technology during the first quarter valued at $99,000.

PAR Technology Price Performance

NYSE PAR opened at $55.95 on Tuesday. The company has a quick ratio of 2.80, a current ratio of 3.12 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $1.90 billion, a PE ratio of -21.77 and a beta of 2.17. PAR Technology Co. has a 12-month low of $28.21 and a 12-month high of $58.57. The company has a 50 day moving average price of $52.84 and a two-hundred day moving average price of $47.34.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PAR. The Goldman Sachs Group increased their price objective on PAR Technology from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Jefferies Financial Group raised shares of PAR Technology from a “hold” rating to a “buy” rating and increased their price target for the stock from $45.00 to $60.00 in a research report on Monday, August 12th. Needham & Company LLC boosted their price objective on shares of PAR Technology from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Stephens upgraded shares of PAR Technology from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $46.00 to $60.00 in a research report on Thursday, June 13th. Finally, Benchmark reissued a “buy” rating and set a $69.00 target price on shares of PAR Technology in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, PAR Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

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.