Cushing Capital Partners LLC Takes $1.32 Million Position in PAR Technology Co. (NYSE:PAR)

Cushing Capital Partners LLC purchased a new stake in shares of PAR Technology Co. (NYSE:PAR) in the fourth quarter, Holdings Channel.com reports. The firm purchased 18,163 shares of the software maker’s stock, valued at approximately $1,320,000. PAR Technology accounts for approximately 1.3% of Cushing Capital Partners LLC’s investment portfolio, making the stock its 24th largest position.

Other hedge funds have also recently made changes to their positions in the company. US Bancorp DE grew its position in shares of PAR Technology by 104.3% during the 4th quarter. US Bancorp DE now owns 668 shares of the software maker’s stock valued at $49,000 after purchasing an additional 341 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of PAR Technology during the 4th quarter worth $113,000. KBC Group NV lifted its holdings in shares of PAR Technology by 30.4% during the 4th quarter. KBC Group NV now owns 1,717 shares of the software maker’s stock worth $125,000 after acquiring an additional 400 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of PAR Technology during the 4th quarter worth $205,000. Finally, Pring Turner Capital Group Inc. bought a new stake in shares of PAR Technology during the 4th quarter worth $231,000.

Analyst Ratings Changes

A number of analysts have recently issued reports on PAR shares. Stephens reaffirmed an “overweight” rating and set a $90.00 price objective on shares of PAR Technology in a report on Friday, February 28th. Citigroup reaffirmed a “neutral” rating on shares of PAR Technology in a report on Friday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of PAR Technology in a report on Friday, February 28th. Benchmark reaffirmed a “buy” rating on shares of PAR Technology in a report on Friday, February 28th. Finally, The Goldman Sachs Group boosted their price target on shares of PAR Technology from $71.00 to $79.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.25.

PAR Technology Stock Performance

PAR Technology stock opened at $62.50 on Tuesday. 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 company has a market capitalization of $2.51 billion, a PE ratio of -250.00 and a beta of 2.20. The firm has a fifty day simple moving average of $69.11 and a two-hundred day simple moving average of $66.09. PAR Technology Co. has a twelve month low of $37.74 and a twelve month high of $82.24.

PAR Technology (NYSE:PAR) last released its quarterly earnings data on Friday, February 28th. The software maker reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.17). PAR Technology had a negative net margin of 0.66% and a negative return on equity of 8.99%. The firm had revenue of $105.01 million during the quarter, compared to analysts’ expectations of $99.10 million. During the same quarter in the previous year, the firm posted ($0.33) EPS. PAR Technology’s revenue was up 50.2% compared to the same quarter last year. Research analysts expect that PAR Technology Co. 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.