Connor Clark & Lunn Investment Management Ltd. Buys New Shares in PAR Technology Co. (NYSE:PAR)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of PAR Technology Co. (NYSE:PAR) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 86,345 shares of the software maker’s stock, valued at approximately $6,275,000. Connor Clark & Lunn Investment Management Ltd. owned 0.22% of PAR Technology at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in PAR Technology by 5.1% in the third quarter. Victory Capital Management Inc. now owns 4,524 shares of the software maker’s stock valued at $236,000 after purchasing an additional 219 shares in the last quarter. US Bancorp DE increased its position in PAR Technology by 104.3% in the 4th quarter. US Bancorp DE now owns 668 shares of the software maker’s stock valued at $49,000 after buying an additional 341 shares in the last quarter. Stratos Wealth Partners LTD. raised its stake in PAR Technology by 7.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 4,966 shares of the software maker’s stock worth $361,000 after buying an additional 343 shares during the period. KBC Group NV boosted its holdings in PAR Technology by 30.4% in the fourth quarter. KBC Group NV now owns 1,717 shares of the software maker’s stock worth $125,000 after acquiring an additional 400 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in PAR Technology by 7.6% in the fourth quarter. Arizona State Retirement System now owns 10,529 shares of the software maker’s stock valued at $765,000 after acquiring an additional 741 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PAR. The Goldman Sachs Group increased their target price on PAR Technology from $71.00 to $79.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price objective on shares of PAR Technology in a report on Friday, February 28th. Stephens restated an “overweight” rating and issued a $90.00 target price on shares of PAR Technology in a report on Friday, February 28th. StockNews.com upgraded PAR Technology to a “sell” rating in a research note on Monday, March 3rd. Finally, Benchmark reissued a “buy” rating on shares of PAR Technology in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, PAR Technology presently has a consensus rating of “Moderate Buy” and an average price target of $81.86.

PAR Technology Price Performance

Shares of NYSE PAR opened at $58.54 on Friday. The company has a market capitalization of $2.35 billion, a PE ratio of -234.17 and a beta of 2.19. The company has a quick ratio of 1.91, a current ratio of 2.13 and a debt-to-equity ratio of 0.67. The stock’s 50 day moving average price is $68.13 and its 200-day moving average price is $66.17. PAR Technology Co. has a twelve month low of $37.74 and a twelve month high of $82.24.

PAR Technology (NYSE:PAR) last posted its quarterly earnings data 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 business had revenue of $105.01 million during the quarter, compared to analysts’ expectations of $99.10 million. PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. The firm’s revenue for the quarter was up 50.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.33) EPS. On average, equities analysts anticipate that PAR Technology Co. will post -1.47 EPS for the current year.

PAR Technology Profile

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.