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.
COPYRIGHT VIOLATION NOTICE: “Park City Group (PCYG) Downgraded by Zacks Investment Research” was originally posted by The Lincolnian Online and is the property of of The Lincolnian Online. If you are accessing this news story on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark laws. The correct version of this news story can be viewed at https://www.thelincolnianonline.com/2018/02/17/park-city-group-pcyg-downgraded-by-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Park City Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park City Group and related companies with MarketBeat.com's FREE daily email newsletter.