Brooktree Capital Management Has $17.65 Million Stake in PAR Technology Co. (NYSE:PAR)

Brooktree Capital Management lowered its stake in shares of PAR Technology Co. (NYSE:PAR) by 0.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 338,959 shares of the software maker’s stock after selling 2,147 shares during the quarter. PAR Technology makes up approximately 14.3% of Brooktree Capital Management’s holdings, making the stock its 2nd largest position. Brooktree Capital Management’s holdings in PAR Technology were worth $17,653,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Castleark Management LLC increased its stake in PAR Technology by 59.7% during the 1st quarter. Castleark Management LLC now owns 79,360 shares of the software maker’s stock valued at $3,600,000 after buying an additional 29,680 shares during the period. Magnolia Capital Advisors LLC acquired a new stake in shares of PAR Technology in the second quarter valued at $3,881,000. Capital Research Global Investors boosted its stake in PAR Technology by 43.4% during the first quarter. Capital Research Global Investors now owns 3,530,843 shares of the software maker’s stock valued at $155,670,000 after buying an additional 1,068,641 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in PAR Technology by 219.0% during the second quarter. Harbor Capital Advisors Inc. now owns 41,182 shares of the software maker’s stock worth $1,939,000 after acquiring an additional 28,273 shares during the period. Finally, Resolute Capital Asset Partners LLC boosted its position in shares of PAR Technology by 33.3% during the 2nd quarter. Resolute Capital Asset Partners LLC now owns 60,000 shares of the software maker’s stock valued at $2,825,000 after purchasing an additional 15,000 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PAR. Needham & Company LLC boosted their target price on shares of PAR Technology from $66.00 to $90.00 and gave the stock a “buy” rating in a report on Monday. Stephens increased their price target on PAR Technology from $70.00 to $83.00 and gave the company an “overweight” rating in a research report on Monday. Jefferies Financial Group raised shares of PAR Technology from a “hold” rating to a “buy” rating and upped their price objective for the company from $45.00 to $60.00 in a research note on Monday, August 12th. StockNews.com raised shares of PAR Technology to a “sell” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their target price on shares of PAR Technology from $59.00 to $71.00 and gave the company a “neutral” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, PAR Technology currently has an average rating of “Moderate Buy” and a consensus price target of $77.38.

PAR Technology Trading Down 0.9 %

PAR Technology stock opened at $74.27 on Thursday. The company’s fifty day simple moving average is $58.36 and its 200-day simple moving average is $51.64. The company has a quick ratio of 2.80, a current ratio of 2.13 and a debt-to-equity ratio of 0.67. PAR Technology Co. has a 12 month low of $34.63 and a 12 month high of $76.10. The stock has a market cap of $2.70 billion, a P/E ratio of -297.07 and a beta of 2.14.

PAR Technology (NYSE:PAR) last posted its earnings results on Friday, November 8th. The software maker reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.01. PAR Technology had a negative net margin of 0.66% and a negative return on equity of 8.99%. The company had revenue of $96.80 million during the quarter, compared to the consensus estimate of $91.01 million. During the same period in the previous year, the firm posted ($0.35) earnings per share. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. As a group, sell-side analysts forecast that PAR Technology Co. will post -1.67 EPS for the current fiscal year.

PAR Technology Company 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.