Park City Group (NASDAQ:PCYG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

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 $10.70 on Wednesday. Park City Group has a 52-week low of $8.10 and a 52-week high of $16.30. The firm has a market cap of $208.66, a P/E ratio of 82.31, a PEG ratio of 2.30 and a beta of 1.11. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.78 and a current ratio of 2.78.

Several institutional investors have recently added to or reduced their stakes in PCYG. Accredited Investors Inc. bought a new position in shares of Park City Group during the 4th quarter valued at approximately $104,000. Virtu Financial LLC bought a new position in shares of Park City Group during the 4th quarter valued at approximately $133,000. The Manufacturers Life Insurance Company grew its position in shares of Park City Group by 15.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,544 shares of the technology company’s stock valued at $140,000 after acquiring an additional 1,519 shares during the period. Rhumbline Advisers boosted 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 buying an additional 415 shares during the period. Finally, Citadel Advisors LLC bought a new position in Park City Group in the 4th quarter worth approximately $158,000. 33.44% of the stock is owned by hedge funds and other institutional investors.

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About Park City Group

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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