Published on January 24th, 2023 📆 | 3664 Views ⚑0
The Manufacturers Life Insurance Company Sells 26,513 Shares of PAR Technology Co. (NYSE:PAR)
The Manufacturers Life Insurance Company lowered its stake in shares of PAR Technology Co. (NYSE:PAR - Get Rating) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 955,363 shares of the software maker's stock after selling 26,513 shares during the period. The Manufacturers Life Insurance Company owned approximately 3.50% of PAR Technology worth $28,212,000 as of its most recent filing with the Securities and Exchange Commission.
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Other institutional investors also recently modified their holdings of the company. Reinhart Partners Inc. boosted its stake in PAR Technology by 3.9% during the 3rd quarter. Reinhart Partners Inc. now owns 586,634 shares of the software maker's stock worth $17,323,000 after acquiring an additional 22,122 shares during the last quarter. SG Americas Securities LLC increased its position in shares of PAR Technology by 70.7% in the 3rd quarter. SG Americas Securities LLC now owns 21,291 shares of the software maker's stock valued at $629,000 after buying an additional 8,819 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in PAR Technology by 4.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 30,275 shares of the software maker's stock worth $894,000 after buying an additional 1,300 shares during the period. Granite Investment Partners LLC lifted its holdings in PAR Technology by 1.6% during the third quarter. Granite Investment Partners LLC now owns 539,805 shares of the software maker's stock worth $15,940,000 after acquiring an additional 8,449 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in PAR Technology by 5.9% during the second quarter. Legal & General Group Plc now owns 9,256 shares of the software maker's stock worth $347,000 after acquiring an additional 518 shares in the last quarter.
Analyst Ratings Changes
PAR has been the topic of several recent analyst reports. StockNews.com started coverage on PAR Technology in a report on Wednesday, October 12th. They set a "sell" rating on the stock. BTIG Research reduced their price target on shares of PAR Technology from $60.00 to $46.00 and set a "buy" rating for the company in a report on Wednesday, November 9th. The Goldman Sachs Group lowered their price objective on shares of PAR Technology from $31.00 to $27.00 and set a "neutral" rating for the company in a research report on Monday, January 9th. Craig Hallum cut their price objective on shares of PAR Technology to $35.00 in a research report on Tuesday, November 15th. Finally, Needham & Company LLC lifted their price target on PAR Technology from $30.00 to $43.00 in a research note on Wednesday, January 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, PAR Technology currently has an average rating of "Hold" and a consensus target price of $38.20.
PAR Technology Stock Performance
PAR Technology stock opened at $31.66 on Tuesday. The company has a fifty day simple moving average of $25.58 and a 200 day simple moving average of $30.93. The company has a quick ratio of 2.94, a current ratio of 3.55 and a debt-to-equity ratio of 1.01. PAR Technology Co. has a 1-year low of $20.37 and a 1-year high of $47.03.
PAR Technology (NYSE:PAR - Get Rating) last announced its quarterly earnings data on Wednesday, November 9th. The software maker reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.04). PAR Technology had a negative net margin of 23.98% and a negative return on equity of 15.29%. The company had revenue of $92.77 million during the quarter, compared to the consensus estimate of $83.81 million. Sell-side analysts expect that PAR Technology Co. will post -2.09 EPS for the current fiscal year.
PAR Technology Company Profile
PAR Technology Corporation, together with its subsidiaries, provides technology solutions to the restaurant and retail industries worldwide. The company operates in two segments, Restaurant/Retail and Government. The Restaurant/Retail segment offers point-of-sale (POS) technology solutions, including Brink POS, an open cloud solution that integrates with third-party products and in-house systems; Punchh, an enterprise-grade customer loyalty and engagement solution for restaurant and convenience store brands; Data Central, a cloud software solution for back-office applications; PAR Payment Services, a merchant services offering; POS integrated solutions for wireless headsets for drive-thru order-taking; and the PAR Infinity, PAR Phase, PAR Helix, and the EverServ 8000 series platform.
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