Proficio Capital Partners LLC has made a new investment in PAR Technology Co. (NYSE:PAR), as revealed in the firm’s latest filing with the Securities & Exchange Commission. The filing, a Form 13F, indicates that Proficio Capital Partners acquired 24,708 shares of the software company’s stock during the fourth quarter.
The purchase is valued at approximately $1,796,000. Following this transaction, Proficio Capital Partners LLC holds approximately 0.06% of PAR Technology.
Several other institutional investors have also recently adjusted their holdings in PAR Technology:
- Bamco Inc. NY increased its position by 15.2% in the third quarter, now owning 1,170,908 shares worth $60,981,000.
- TimesSquare Capital Management LLC raised its stake by 47.1% in the fourth quarter, and now owns 406,585 shares worth $29,547,000.
- Fred Alger Management LLC initiated a new stake, valued at approximately $6,600,000, in the third quarter.
- Geode Capital Management LLC increased its holdings by 11.1% during the third quarter, now holding 819,035 shares worth $42,664,000.
- Castleark Management LLC boosted its holdings by 196.0% in the third quarter, now owning 116,370 shares valued at $6,061,000.
Analysts’ Opinions and Price Targets
Multiple research firms have recently issued reports on PAR Technology:
- The Goldman Sachs Group increased their price target from $71.00 to $79.00, maintaining a “neutral” rating.
- Craig Hallum reiterated a “buy” rating.
- Stephens reaffirmed an “overweight” rating and set a $90.00 target price.
- Citigroup restated a “neutral” rating.
- Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target.
Currently, one analyst recommends selling the stock, two recommend holding, and six recommend buying. According to MarketBeat, PAR Technology has a consensus rating of “Moderate Buy” with a consensus price target of $81.86.
PAR Technology’s Recent Performance
As of Thursday, PAR opened at $61.39. The company’s market capitalization is $2.47 billion and has a price-to-earnings ratio of -245.53. The company’s debt-to-equity ratio is 0.67, with a current ratio of 2.13 and a quick ratio of 1.91. PAR Technology Co. has a 52-week low of $37.74 and a 52-week high of $82.24. The firm’s 50-day and 200-day simple moving averages are $67.56 and $66.32, respectively.
The company released its most recent quarterly earnings data on Friday, February 28th. The software maker reported a loss of ($0.21) per share, falling short of analyst estimates of ($0.04) per share. PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. Revenue for the quarter was $105.01 million, exceeding the consensus estimate of $99.10 million. In the corresponding quarter of the previous year, the company reported a loss of ($0.33) per share. Revenue increased by 50.2% compared to the same quarter last year. Analysts anticipate a loss of -1.47 earnings per share for the current year.
Company Overview
PAR Technology Corporation provides cloud-based hardware and software solutions worldwide to the restaurant and retail industries. Its offerings include PUNCHH, an enterprise-grade customer loyalty and engagement solution; MENU, an eCommerce platform; BRINK POS, a point-of-sale solution; PAR PAYMENT SERVICES, a merchant services business; and DATA CENTRAL, a back-office solution.
