New York State Retirement Fund Boosts Investment in PAR Technology
The New York State Common Retirement Fund increased its holdings in PAR Technology Co. (NYSE:PAR) during the fourth quarter, according to recent filings with the Securities & Exchange Commission.
The institutional investor increased its stake by 14.4%, purchasing an additional 5,542 shares. This brings the total holdings to 43,984 shares.
At the end of the reporting period, the fund’s investment in PAR Technology was valued at approximately $3.196 million, representing about 0.11% of the company.
Other Institutional Activity
Several other institutional investors also adjusted their positions in PAR Technology during the same period.
KBC Group NV raised its stake by 30.4%, acquiring an additional 400 shares and bringing its total holdings to 1,717 shares, valued at approximately $125,000.
Principal Financial Group Inc. initiated a new position in PAR Technology, valued at roughly $205,000.
Victory Capital Management Inc. increased its holdings by 5.1%, adding 219 shares for a total of 4,524 shares, valued at $236,000.
RiverPark Advisors LLC increased its stake by 21.3%, purchasing an additional 865 shares and holding a total of 4,929 shares, valued at $257,000.
Mount Yale Investment Advisors LLC also established a new position in the company, valued at around $286,000.
Analyst Ratings and Price Targets
Several analysts have recently updated their ratings and price targets for PAR Technology.
- Lake Street Capital raised its price target from $57.00 to $77.00 and maintained a “buy” rating.
- The Goldman Sachs Group increased its price target from $71.00 to $79.00, maintaining a “neutral” rating.
- Stephens reiterated an “overweight” rating.
- Needham & Company LLC maintained a “buy” rating.
- Craig Hallum reiterated a “buy” rating.
Based on MarketBeat data, the stock has an average rating of “Moderate Buy” with a consensus target price of $79.25. One analyst has a sell rating, one a hold, and eight have issued buy ratings.
PAR Technology Price Performance and Financials
On Friday, PAR Technology (NYSE:PAR) traded up $8.17, closing at $68.88, with a trading volume of 871,748 shares, which exceeds its average volume of 490,129. The company’s 52-week low is $37.74 and the 52-week high is $82.24.
The company has a 50-day simple moving average of $70.35 and a 200-day simple moving average of $65.47.
Key financial metrics include a debt-to-equity ratio of 0.67, a quick ratio of 1.91, and a current ratio of 2.13.
The company’s market capitalization is $2.67 billion, with a price-to-earnings ratio of -275.50 and a beta of 2.22.
PAR Technology’s last earnings report, released on February 28th, revealed an EPS of ($0.21), missing the consensus estimate of ($0.04) by ($0.17). The company reported a negative return on equity of 8.99% and a negative net margin of 0.66%. Revenue for the quarter was $105.01 million, surpassing the consensus estimate of $99.10 million and representing a 50.2% increase year-over-year.
Analysts predict PAR Technology Co. will report a -1.47 earnings per share for the current year.
