Park City Group (PCYG) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of Park City Group (NASDAQ:PCYG) from a hold rating to a sell rating in a research note released on Wednesday morning.

According to Zacks, “Park City Group offers a robust set of solutions and it capitalizes on its prestigious user base as customers rapidly deploy and license additional software for their multi-location businesses. Park City Group was founded by Randy Fields, the co-founder and former chairman of Mrs. Fields Cookies. Public since May 2001, the company’s strategy is to rapidly expand its market share within the grocery and specialty retail sectors. “

Park City Group (PCYG) traded up $0.60 during midday trading on Wednesday, hitting $11.30. 112,900 shares of the stock traded hands, compared to its average volume of 72,475. Park City Group has a 12-month low of $8.10 and a 12-month high of $16.10. The stock has a market cap of $210.13, a price-to-earnings ratio of 82.31, a P/E/G ratio of 2.32 and a beta of 1.11. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.05.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Accredited Investors Inc. purchased a new stake in shares of Park City Group during the 4th quarter valued at about $104,000. The Manufacturers Life Insurance Company increased its holdings in Park City Group by 15.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,544 shares of the technology company’s stock worth $140,000 after acquiring an additional 1,519 shares in the last quarter. Rhumbline Advisers increased its holdings in Park City Group by 3.4% in the 2nd quarter. Rhumbline Advisers now owns 12,555 shares of the technology company’s stock worth $153,000 after acquiring an additional 415 shares in the last quarter. Virtu Financial LLC purchased a new stake in Park City Group in the 4th quarter worth approximately $133,000. Finally, Goldman Sachs Group Inc. purchased a new stake in Park City Group in the 4th quarter worth approximately $149,000. 33.44% of the stock is owned by hedge funds and other institutional investors.

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Park City Group Company Profile

Park City Group, Inc is a software-as-a-service (SaaS) provider. The Company delivers its services through software products designed, developed, marketed and supported by the Company. The Company also has a Professional Services business, which conducts customization, implementation and training. The Company has approximately two services groups, such as The Business Analytics Group and The Professional Services Group.

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