Park City Group, Inc. (NASDAQ:PCYG) Sees Large Decline in Short Interest

Park City Group, Inc. (NASDAQ:PCYG) was the target of a large drop in short interest in the month of November. As of November 29th, there was short interest totalling 342,400 shares, a drop of 14.9% from the November 14th total of 402,400 shares. Currently, 2.8% of the company’s shares are sold short. Based on an average daily trading volume, of 47,600 shares, the short-interest ratio is presently 7.2 days.

NASDAQ:PCYG traded down $0.10 during mid-day trading on Friday, hitting $4.64. 24,615 shares of the company’s stock were exchanged, compared to its average volume of 51,120. The company has a 50 day simple moving average of $4.98 and a 200-day simple moving average of $5.39. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 0.04. Park City Group has a fifty-two week low of $4.27 and a fifty-two week high of $8.96. The firm has a market capitalization of $91.59 million, a P/E ratio of 27.29 and a beta of 1.57.

Park City Group (NASDAQ:PCYG) last posted its earnings results on Thursday, September 12th. The technology company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.03). Park City Group had a return on equity of 7.74% and a net margin of 15.55%. The business had revenue of $4.66 million for the quarter, compared to analyst estimates of $5.06 million.

Several equities research analysts recently commented on PCYG shares. ValuEngine upgraded shares of Park City Group from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Zacks Investment Research upgraded shares of Park City Group from a “sell” rating to a “hold” rating in a research report on Tuesday, August 27th.

Institutional investors have recently added to or reduced their stakes in the business. Rice Hall James & Associates LLC bought a new position in Park City Group during the 2nd quarter worth approximately $983,000. Connors Investor Services Inc. raised its holdings in Park City Group by 6.3% during the 3rd quarter. Connors Investor Services Inc. now owns 50,886 shares of the technology company’s stock worth $294,000 after purchasing an additional 3,000 shares during the last quarter. Handelsinvest Investeringsforvaltning raised its holdings in Park City Group by 58.6% during the 3rd quarter. Handelsinvest Investeringsforvaltning now owns 323,555 shares of the technology company’s stock worth $1,867,000 after purchasing an additional 119,555 shares during the last quarter. Acadian Asset Management LLC bought a new position in Park City Group during the 2nd quarter worth approximately $46,000. Finally, Ingalls & Snyder LLC raised its holdings in Park City Group by 1.9% during the 3rd quarter. Ingalls & Snyder LLC now owns 162,231 shares of the technology company’s stock worth $936,000 after purchasing an additional 3,010 shares during the last quarter. Hedge funds and other institutional investors own 24.97% of the company’s stock.

About Park City Group

Park City Group, Inc, a software-as-a-service provider, designs, develops, and markets proprietary software products in the United States. The company offers ReposiTrak MarketPlace, a supplier discovery and B2B e-commerce solution that is used for sourcing products, and enables to screen and choose suppliers; ReposiTrak Compliance and Food Safety Solutions, which reduces potential regulatory and legal risk from their supply chain partners; and ReposiTrak Supply Chain Solutions, which enables customers to manage relationships with suppliers.

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