Macquarie Group Ltd. Trims Stake in PAR Technology Co. (NYSE:PAR)

Macquarie Group Ltd. reduced its position in PAR Technology Co. (NYSE:PAR – Get Rating) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,897 shares of the software maker’s stock after selling 850 shares during the quarter. Macquarie Group Ltd.’s holdings in PAR Technology were worth $1,553,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PAR. JPMorgan Chase & Co. raised its position in PAR Technology by 11.2% in the 1st quarter. JPMorgan Chase & Co. now owns 35,339 shares of the software maker’s stock worth $1,426,000 after purchasing an additional 3,556 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in PAR Technology by 4.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 30,190 shares of the software maker’s stock worth $1,218,000 after acquiring an additional 1,190 shares in the last quarter. MetLife Investment Management LLC grew its stake in PAR Technology by 58.5% in the 1st quarter. MetLife Investment Management LLC now owns 13,416 shares of the software maker’s stock worth $541,000 after acquiring an additional 4,951 shares in the last quarter. Rhumbline Advisers grew its stake in PAR Technology by 7.6% in the 1st quarter. Rhumbline Advisers now owns 25,784 shares of the software maker’s stock worth $1,040,000 after acquiring an additional 1,828 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in PAR Technology by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 1,474,270 shares of the software maker’s stock worth $59,471,000 after acquiring an additional 85,559 shares in the last quarter.

PAR Technology Price Performance

NYSE PAR opened at $32.62 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 2.75 and a current ratio of 3.30. The firm’s 50 day moving average price is $33.49 and its 200-day moving average price is $29.88. PAR Technology Co. has a 52-week low of $20.37 and a 52-week high of $47.03. The company has a market cap of $891.18 million, a PE ratio of -12.69 and a beta of 1.88.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. StockNews.com upgraded shares of PAR Technology to a “sell” rating in a research note on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $43.00 target price on shares of PAR Technology in a research note on Thursday, March 2nd. The Goldman Sachs Group upped their target price on shares of PAR Technology from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, March 2nd. Finally, Craig Hallum upped their target price on shares of PAR Technology from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, March 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $40.20.

PAR Technology Company Profile

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PAR Technology Corp. engages in the provision of software and hardware support services for the hospitality industry. It operates through the Restaurant/Retail and Government segments. The Restaurant/Retail segment offers point-of-sale (POS) software, hardware, back-office software, systems, services, and integrated technical solutions to the restaurant and retail industries.