Mitsubishi UFJ Asset Management Co. Ltd. Raises Position in PAR Technology Corporation (NYSE:PAR)

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of PAR Technology Corporation (NYSE:PAR) by 3.9% during the first quarter, HoldingsChannel reports. The firm owned 6,233 shares of the software maker’s stock after buying an additional 234 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in PAR Technology were worth $382,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in PAR Technology by 2.5% during the first quarter. Vanguard Group Inc. now owns 2,898,114 shares of the software maker’s stock valued at $177,770,000 after purchasing an additional 69,546 shares during the period. Reinhart Partners LLC. raised its position in PAR Technology by 15.0% during the first quarter. Reinhart Partners LLC. now owns 858,843 shares of the software maker’s stock valued at $52,681,000 after purchasing an additional 112,183 shares during the period. Dimensional Fund Advisors LP raised its position in PAR Technology by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 660,496 shares of the software maker’s stock valued at $48,000,000 after purchasing an additional 26,008 shares during the period. TimesSquare Capital Management LLC raised its position in PAR Technology by 11.6% during the first quarter. TimesSquare Capital Management LLC now owns 453,925 shares of the software maker’s stock valued at $27,844,000 after purchasing an additional 47,340 shares during the period. Finally, Hood River Capital Management LLC purchased a new stake in PAR Technology during the fourth quarter valued at approximately $30,392,000.

Insider Transactions at PAR Technology

In related news, Director Douglas Gregory Rauch sold 1,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $69.98, for a total value of $69,980.00. Following the transaction, the director owned 11,760 shares of the company’s stock, valued at $822,964.80. This represents a 7.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PAR has been the topic of a number of recent research reports. The Goldman Sachs Group upped their price objective on PAR Technology from $57.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, May 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of PAR Technology in a research note on Friday, July 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $83.17.

PAR Technology Trading Up 4.9%

PAR opened at $51.43 on Thursday. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of -22.86 and a beta of 1.70. The stock’s 50 day moving average price is $64.66 and its 200-day moving average price is $63.73. PAR Technology Corporation has a one year low of $46.24 and a one year high of $82.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.83 and a current ratio of 1.70.

PAR Technology (NYSE:PAR) last released its earnings results on Friday, August 8th. The software maker reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $112.40 million for the quarter, compared to the consensus estimate of $111.02 million. PAR Technology had a negative net margin of 20.64% and a negative return on equity of 3.16%. The company’s quarterly revenue was up 43.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.23) EPS. On average, equities analysts forecast that PAR Technology Corporation will post -1.47 EPS for the current year.

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.