Zacks Investment Research upgraded shares of Park City Group (NASDAQ:PCYG) from a hold rating to a buy rating in a report issued on Friday. Zacks Investment Research currently has $9.75 price target on the technology company’s stock.

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 PCYG stock opened at $9.75 on Friday. The stock has a market cap of $192.97 million, a PE ratio of 65.00, a P/E/G ratio of 1.72 and a beta of 1.07. Park City Group has a 1-year low of $6.75 and a 1-year high of $12.50. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.97 and a current ratio of 2.97.

Park City Group (NASDAQ:PCYG) last announced its quarterly earnings data on Thursday, September 13th. The technology company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The business had revenue of $6.32 million for the quarter, compared to analyst estimates of $6.40 million. Park City Group had a net margin of 15.47% and a return on equity of 9.17%. analysts forecast that Park City Group will post 0.27 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Wedbush Securities Inc. lifted its holdings in shares of Park City Group by 9.8% during the 2nd quarter. Wedbush Securities Inc. now owns 88,153 shares of the technology company’s stock worth $696,000 after acquiring an additional 7,897 shares during the period. Northern Trust Corp lifted its holdings in shares of Park City Group by 5.5% during the 1st quarter. Northern Trust Corp now owns 162,515 shares of the technology company’s stock worth $1,422,000 after acquiring an additional 8,482 shares during the period. Uniplan Investment Counsel Inc. lifted its holdings in shares of Park City Group by 1.6% during the 1st quarter. Uniplan Investment Counsel Inc. now owns 601,385 shares of the technology company’s stock worth $5,262,000 after acquiring an additional 9,270 shares during the period. Fisher Asset Management LLC purchased a new position in shares of Park City Group during the 2nd quarter worth about $104,000. Finally, Family Management Corp purchased a new position in shares of Park City Group during the 1st quarter worth about $166,000. Institutional investors and hedge funds own 27.93% of the company’s stock.

Park City Group Company Profile

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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