Park City Group (PCYG) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Park City Group (NASDAQ:PCYG) from a hold rating to a sell rating in a research report 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 (NASDAQ:PCYG) opened at $11.50 on Wednesday. Park City Group has a 1 year low of $8.10 and a 1 year high of $15.80. The company has a market capitalization of $229.77, a PE ratio of 88.47, a PEG ratio of 2.53 and a beta of 1.11. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.05.

Several hedge funds have recently made changes to their positions in PCYG. Pembroke Management LTD acquired a new stake in shares of Park City Group during the fourth quarter valued at about $5,239,000. Uniplan Investment Counsel Inc. boosted its stake in shares of Park City Group by 602.3% during the third quarter. Uniplan Investment Counsel Inc. now owns 590,569 shares of the technology company’s stock valued at $7,175,000 after purchasing an additional 506,477 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of Park City Group during the third quarter valued at about $967,000. Wedbush Securities Inc. boosted its stake in shares of Park City Group by 58.0% during the fourth quarter. Wedbush Securities Inc. now owns 114,756 shares of the technology company’s stock valued at $1,096,000 after purchasing an additional 42,118 shares in the last quarter. Finally, Parsons Capital Management Inc. RI boosted its stake in shares of Park City Group by 15.2% during the third quarter. Parsons Capital Management Inc. RI now owns 153,575 shares of the technology company’s stock valued at $1,866,000 after purchasing an additional 20,300 shares in the last quarter. 33.44% of the stock is currently 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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