Park City Group (PCYG) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research downgraded shares of Park City Group (NASDAQ:PCYG) from a buy rating to a hold rating in a research report released on Thursday 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. “
Shares of Park City Group stock traded down $0.05 during trading on Thursday, hitting $8.00. The stock had a trading volume of 393 shares, compared to its average volume of 63,201. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.04. The firm has a market cap of $163.07 million, a price-to-earnings ratio of 50.00, a price-to-earnings-growth ratio of 1.71 and a beta of 1.10. Park City Group has a fifty-two week low of $6.75 and a fifty-two week high of $13.40.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Cowen Prime Services LLC purchased a new stake in shares of Park City Group during the first quarter valued at $105,000. Fisher Asset Management LLC purchased a new stake in shares of Park City Group during the second quarter valued at $104,000. Goldman Sachs Group Inc. purchased a new stake in shares of Park City Group during the fourth quarter valued at $149,000. Family Management Corp purchased a new stake in shares of Park City Group during the first quarter valued at $166,000. Finally, LVW Advisors LLC purchased a new stake in shares of Park City Group during the second quarter valued at $198,000. 26.99% of the stock is owned by institutional investors and hedge funds.
About Park City Group
Park City Group, Inc, a software-as-a-service provider, designs, develops, markets, and supports proprietary software products. The company offers its products for businesses having multiple locations to assist in the management of business operations on a daily basis and communicate results of operations in a timely manner.
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