Fred Alger Management LLC Acquires 185,107 Shares of PAR Technology Co. (NYSE:PAR)

Fred Alger Management LLC raised its position in PAR Technology Co. (NYSE:PAR) by 146.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 311,841 shares of the software maker’s stock after purchasing an additional 185,107 shares during the quarter. Fred Alger Management LLC owned 0.81% of PAR Technology worth $22,661,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PAR. Aster Capital Management DIFC Ltd acquired a new stake in PAR Technology during the 4th quarter valued at $28,000. Mountain Hill Investment Partners Corp. bought a new stake in PAR Technology in the 4th quarter valued at $29,000. Signaturefd LLC increased its position in PAR Technology by 85.6% during the fourth quarter. Signaturefd LLC now owns 605 shares of the software maker’s stock worth $44,000 after acquiring an additional 279 shares during the period. US Bancorp DE increased its position in shares of PAR Technology by 104.3% in the fourth quarter. US Bancorp DE now owns 668 shares of the software maker’s stock worth $49,000 after purchasing an additional 341 shares during the period. Finally, Arcadia Investment Management Corp MI acquired a new position in PAR Technology in the fourth quarter valued at about $113,000.

PAR Technology Stock Performance

NYSE PAR opened at $62.32 on Friday. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of -249.27 and a beta of 1.76. The company has a quick ratio of 1.91, a current ratio of 2.13 and a debt-to-equity ratio of 0.67. PAR Technology Co. has a twelve month low of $37.74 and a twelve month high of $82.24. The stock has a fifty day simple moving average of $59.26 and a 200 day simple moving average of $67.03.

PAR Technology (NYSE:PAR) last issued its quarterly earnings results on Friday, February 28th. The software maker reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.17). The company had revenue of $105.01 million during the quarter, compared to analyst estimates of $99.10 million. PAR Technology had a negative net margin of 0.66% and a negative return on equity of 8.99%. The company’s quarterly revenue was up 50.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.33) EPS. Sell-side analysts expect that PAR Technology Co. will post -1.47 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on PAR. Craig Hallum reiterated a “buy” rating on shares of PAR Technology in a research note on Friday, February 28th. Citigroup restated a “neutral” rating on shares of PAR Technology in a research report on Friday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of PAR Technology in a report on Friday, February 28th. StockNews.com raised PAR Technology to a “sell” rating in a report on Monday, March 3rd. Finally, Benchmark reaffirmed a “buy” rating on shares of PAR Technology in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, PAR Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.86.

About PAR Technology

PAR Technology Corporation, together with its subsidiaries, provides omnichannel cloud-based hardware and software solutions to the restaurant and retail industries worldwide. The Restaurant/Retail segment offers PUNCHH, an enterprise-grade customer loyalty and engagement solution; MENU, an eCommerce platform for restaurant brands; BRINK POS, an open cloud, point-of-sale solution; PAR PAYMENT SERVICES, a merchant services business that enables electronic payment and processing services for businesses; and DATA CENTRAL, a back-office solution that leverages business intelligence and automation technologies.