Hsbc Holdings PLC Invests in PAR Technology Co.
Hsbc Holdings PLC has acquired a new position in PAR Technology Co. (NYSE:PAR) during the fourth quarter, as per its latest filing with the Securities and Exchange Commission (SEC). The investment firm purchased 7,386 shares of the software company’s stock, valued at approximately $539,000.
Other institutional investors have also recently adjusted their stakes in PAR Technology. Aster Capital Management DIFC Ltd established a new position in the company’s shares during the fourth quarter, with a value of around $28,000. Similarly, Mountain Hill Investment Partners Corp. acquired a new stake worth approximately $29,000. Signaturefd LLC increased its holding by 85.6%, now owning 605 shares valued at $44,000. US Bancorp DE boosted its position by 104.3%, holding 668 shares worth $49,000. Arcadia Investment Management Corp MI also purchased a new stake worth about $113,000.
Stock Performance
On Monday, PAR Technology’s stock price rose by $1.26 to $65.99, with 74,191 shares traded, compared to its average volume of 435,098. The company has a market capitalization of $2.67 billion and a price-to-earnings ratio of -263.16. PAR Technology’s revenue for the quarter was $103.86 million, a 48.2% increase from the same period last year. The company reported a loss of $0.01 per share, beating the consensus estimate of ($0.05) by $0.04.
Analyst Ratings
Several equities analysts have recently commented on PAR Technology’s stock. Craig Hallum maintained a “buy” rating, while Citigroup reissued a “neutral” rating. StockNews.com upgraded the stock to a “sell” rating, whereas Needham & Company LLC reaffirmed a “buy” rating with a $90.00 price target. Stephens also reaffirmed an “overweight” rating with a $90.00 price target. The stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.86.
PAR Technology Corporation provides omnichannel cloud-based hardware and software solutions to the restaurant and retail industries worldwide. The company’s Restaurant/Retail segment offers various solutions, including PUNCHH, MENU, BRINK POS, PAR PAYMENT SERVICES, and DATA CENTRAL.
