Arizona State Retirement System Buys 339 Shares of PAR Technology Co. (NYSE:PAR)

Arizona State Retirement System grew its stake in PAR Technology Co. (NYSE:PAR – Get Rating) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,693 shares of the software maker’s stock after purchasing an additional 339 shares during the period. Arizona State Retirement System’s holdings in PAR Technology were worth $201,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PAR. MFN Partners Management LP boosted its stake in PAR Technology by 991.4% during the first quarter. MFN Partners Management LP now owns 1,091,404 shares of the software maker’s stock worth $44,027,000 after buying an additional 991,404 shares in the last quarter. Cannell & Co. boosted its position in shares of PAR Technology by 169.3% during the 4th quarter. Cannell & Co. now owns 782,476 shares of the software maker’s stock valued at $20,399,000 after acquiring an additional 491,885 shares in the last quarter. Bank of Montreal Can increased its stake in PAR Technology by 208.2% in the third quarter. Bank of Montreal Can now owns 507,000 shares of the software maker’s stock valued at $15,591,000 after acquiring an additional 342,480 shares during the period. Gamco Investors INC. ET AL acquired a new position in PAR Technology in the first quarter worth about $10,649,000. Finally, Reinhart Partners Inc. lifted its stake in PAR Technology by 39.6% during the fourth quarter. Reinhart Partners Inc. now owns 818,901 shares of the software maker’s stock worth $21,349,000 after purchasing an additional 232,267 shares during the period.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PAR shares. The Goldman Sachs Group increased their target price on PAR Technology from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, April 13th. Craig Hallum lifted their price objective on PAR Technology from $35.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, March 2nd. StockNews.com initiated coverage on shares of PAR Technology in a report on Thursday, May 18th. They issued a “sell” rating on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $43.00 price target on shares of PAR Technology in a report on Thursday, March 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, PAR Technology presently has an average rating of “Hold” and an average price target of $41.00.

PAR Technology Stock Performance

PAR Technology stock opened at $34.57 on Thursday. The stock has a 50-day simple moving average of $32.13 and a 200 day simple moving average of $30.32. The stock has a market capitalization of $947.56 million, a price-to-earnings ratio of -13.45 and a beta of 1.93. The company has a quick ratio of 2.69, a current ratio of 3.19 and a debt-to-equity ratio of 1.08. PAR Technology Co. has a 12-month low of $20.37 and a 12-month high of $47.03.

PAR Technology (NYSE:PAR – Get Rating) last announced its earnings results on Wednesday, March 1st. The software maker reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.26. PAR Technology had a negative net margin of 18.51% and a negative return on equity of 14.37%. The company had revenue of $97.65 million for the quarter, compared to analyst estimates of $92.00 million. On average, research analysts anticipate that PAR Technology Co. will post -1.46 earnings per share for the current fiscal year.

PAR Technology 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.