Granahan Investment Management LLC significantly increased its holdings in PAR Technology Co. (NYSE:PAR) during the fourth quarter, according to the company’s latest 13F filing with the Securities and Exchange Commission (SEC). The investment firm boosted its stake by 115.5%, resulting in a total of 347,916 shares valued at $25,283,000.
Other hedge funds and investment firms also adjusted their positions in PAR Technology during the same period. The Manufacturers Life Insurance Company increased its holdings by 1.0%, now owning 17,303 shares worth $1,257,000. Signaturefd LLC grew its stake by 85.6%, holding 605 shares valued at $44,000. US Bancorp DE increased its holdings by 104.3%, now owning 668 shares worth $49,000. Stratos Wealth Partners LTD. raised its position by 7.4%, holding 4,966 shares valued at $361,000. Additionally, Aster Capital Management DIFC Ltd established a new position in PAR Technology worth approximately $28,000.
Stock Performance
PAR Technology’s stock opened at $64.72 on Friday, with a 52-week low of $39.80 and a 52-week high of $82.24. The company has a market capitalization of $2.62 billion and a price-to-earnings ratio of -258.87. The stock’s 50-day simple moving average is $59.24, while its 200-day simple moving average is $67.07.
Recent Earnings Report
PAR Technology released its earnings results on Friday, May 9th. The company reported an EPS of ($0.01) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. Revenue reached $103.86 million, slightly below expectations of $105.16 million. The company’s revenue growth was 48.2% compared to the same quarter last year.
Analyst Ratings
Several research analysts have issued reports on PAR Technology. Benchmark reaffirmed a “buy” rating, while Citigroup maintained a “neutral” rating. Stephens restated an “overweight” rating with a $90.00 price target. StockNews.com downgraded the stock to a “sell” rating, whereas Needham & Company LLC reissued a “buy” rating with a $90.00 target price. Currently, PAR Technology has an average rating of “Moderate Buy” and an average target price of $81.86 among analysts.
