Rhumbline Advisers Has $2.37 Million Holdings in PAR Technology Co. (NYSE:PAR)

Rhumbline Advisers raised its holdings in PAR Technology Co. (NYSE:PAR) by 8.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 50,423 shares of the software maker’s stock after acquiring an additional 4,124 shares during the quarter. Rhumbline Advisers’ holdings in PAR Technology were worth $2,374,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PAR. NBC Securities Inc. bought a new stake in PAR Technology in the 1st quarter valued at about $76,000. Central Pacific Bank Trust Division purchased a new position in shares of PAR Technology in the 1st quarter worth approximately $78,000. LRI Investments LLC purchased a new position in PAR Technology in the first quarter worth $99,000. RiverPark Advisors LLC bought a new position in PAR Technology during the second quarter valued at about $191,000. Finally, Principal Financial Group Inc. bought a new stake in shares of PAR Technology in the second quarter valued at $211,000.

PAR Technology Price Performance

Shares of NYSE:PAR opened at $57.16 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 current ratio of 3.12 and a quick ratio of 2.80. The company has a market capitalization of $2.07 billion, a P/E ratio of -22.24 and a beta of 2.17. The firm’s 50 day simple moving average is $52.60 and its two-hundred day simple moving average is $47.07.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on PAR shares. The Goldman Sachs Group raised their target price on PAR Technology from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. StockNews.com upgraded PAR Technology to a “sell” rating in a report on Wednesday. Benchmark reaffirmed a “buy” rating and issued a $69.00 price target on shares of PAR Technology in a research note on Friday, August 9th. Jefferies Financial Group upgraded PAR Technology from a “hold” rating to a “buy” rating and boosted their price target for the company from $45.00 to $60.00 in a report on Monday, August 12th. Finally, Stephens raised shares of PAR Technology from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $46.00 to $60.00 in a research note on Thursday, June 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, PAR Technology has an average rating of “Moderate Buy” and a consensus price target 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.