Fred Alger Management LLC Invests $6.60 Million in PAR Technology Co. (NYSE:PAR)

Fred Alger Management LLC purchased a new stake in PAR Technology Co. (NYSE:PAR - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 126,734 shares of the software maker's stock, valued at approximately $6,600,000. Fred Alger Management LLC owned 0.35% of PAR Technology at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in PAR Technology by 2.4% during the first quarter. Vanguard Group Inc. now owns 2,159,383 shares of the software maker's stock worth $97,950,000 after buying an additional 50,793 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in PAR Technology by 14.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,655 shares of the software maker's stock valued at $348,000 after acquiring an additional 954 shares during the last quarter. Moody National Bank Trust Division bought a new position in PAR Technology in the second quarter valued at approximately $432,000. Harbor Capital Advisors Inc. raised its position 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 valued at $1,939,000 after purchasing an additional 28,273 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in PAR Technology by 36.2% during the second quarter. SG Americas Securities LLC now owns 6,670 shares of the software maker's stock worth $314,000 after purchasing an additional 1,772 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PAR shares. StockNews.com raised PAR Technology to a "sell" rating in a report on Thursday, November 7th. Jefferies Financial Group raised shares of PAR Technology from a "hold" rating to a "buy" rating and increased their target price for the stock from $45.00 to $60.00 in a report on Monday, August 12th. Craig Hallum raised their price target on shares of PAR Technology from $65.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Needham & Company LLC reiterated a "buy" rating and set a $90.00 price objective on shares of PAR Technology in a research report on Tuesday, November 26th. Finally, The Goldman Sachs Group raised their target price on shares of PAR Technology from $59.00 to $71.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $78.25.

PAR Technology Trading Up 1.3 %

NYSE PAR traded up $1.08 during mid-day trading on Friday, reaching $81.14. 364,008 shares of the stock were exchanged, compared to its average volume of 635,608. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.13 and a quick ratio of 1.91. The stock has a market cap of $2.95 billion, a P/E ratio of -324.55 and a beta of 2.14. The stock has a 50 day simple moving average of $63.55 and a 200-day simple moving average of $54.44. PAR Technology Co. has a one year low of $36.16 and a one year high of $82.24.

PAR Technology (NYSE:PAR - Get Free Report) last posted its quarterly earnings data on Friday, November 8th. The software maker reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.01. PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. The firm had revenue of $96.80 million during the quarter, compared to analyst estimates of $91.01 million. During the same period last year, the company posted ($0.35) EPS. The business's quarterly revenue was down 9.6% on a year-over-year basis. On average, analysts anticipate that PAR Technology Co. will post -1.56 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.