Magnolia Capital Advisors LLC Buys New Stake in PAR Technology Co. (NYSE:PAR)

Magnolia Capital Advisors LLC purchased a new position in shares of PAR Technology Co. (NYSE:PAR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 82,408 shares of the software maker’s stock, valued at approximately $3,881,000.

Several other hedge funds and other institutional investors have also modified their holdings of PAR. Vanguard Group Inc. lifted its stake in PAR Technology by 9.0% during the 4th quarter. Vanguard Group Inc. now owns 2,108,590 shares of the software maker’s stock worth $91,808,000 after acquiring an additional 173,575 shares in the last quarter. Castleark Management LLC boosted its stake in shares of PAR Technology by 59.7% in the first quarter. Castleark Management LLC now owns 79,360 shares of the software maker’s stock valued at $3,600,000 after purchasing an additional 29,680 shares during the period. Hodges Capital Management Inc. acquired a new position in shares of PAR Technology in the first quarter valued at approximately $4,354,000. Wasatch Advisors LP purchased a new stake in PAR Technology during the 1st quarter worth approximately $10,194,000. Finally, Capital Research Global Investors lifted its holdings in PAR Technology by 43.4% during the 1st quarter. Capital Research Global Investors now owns 3,530,843 shares of the software maker’s stock worth $155,670,000 after buying an additional 1,068,641 shares in the last quarter.

Analyst Ratings Changes

PAR has been the topic of several analyst reports. Stephens upgraded PAR Technology from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $46.00 to $60.00 in a research note on Thursday, June 13th. Jefferies Financial Group upgraded shares of PAR Technology from a “hold” rating to a “buy” rating and boosted their price target for the stock from $45.00 to $60.00 in a report on Monday, August 12th. StockNews.com upgraded shares of PAR Technology to a “sell” rating in a report on Wednesday, September 18th. Needham & Company LLC boosted their target price on shares of PAR Technology from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Benchmark restated a “buy” rating and issued a $69.00 price target on shares of PAR Technology in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $58.00.

PAR Technology Stock Performance

Shares of PAR stock opened at $52.75 on Friday. PAR Technology Co. has a 1 year low of $28.21 and a 1 year high of $58.57. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.80 and a current ratio of 3.12. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of -20.53 and a beta of 2.17. The stock’s 50-day moving average is $52.97 and its two-hundred day moving average is $47.59.

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