Park City (NASDAQ:PCYG) Group, Inc., the parent company of ReposiTrak, is set to make a strategic transition from NASDAQ to the New York Stock Exchange (NYSE) around November 2, 2023. This shift marks a significant milestone in the company's rebranding process to "ReposiTrak" and its ticker symbol change to "TRAK". The firm's CEO, Randall K. Fields, has stated that a robust financial foundation underlies this decision, which is supported by InvestingPro's real-time metrics showing a market cap of 173.58M USD and a P/E ratio of 35.39.
The company, known for operating the world's largest food traceability and regulatory compliance network, will maintain its legal name as Park City Group , Inc. during the rebranding process. With the immediate start of introducing itself as ReposiTrak, the company's strong financial position is evident, as it holds more cash than debt on its balance sheet and has high earnings quality with free cash flow exceeding net income, according to InvestingPro Tips.
Fields attributed the move to NYSE's prestige and customer base, referred to as "The Big Board". He emphasized that this transition would not affect the company's common stock trading, which is set to commence under the new ticker symbol on the NYSE platform from the transition date. Concurrently, trading on NASDAQ will cease. The transition comes after a large price uptick over the last six months and a high return over the last year, as highlighted by InvestingPro Tips.
ReposiTrak serves as a compliance, supply chain, and e-commerce platform that assists retailers and wholesalers in accelerating sales, managing risk, and improving supply chain efficiency. The upcoming changes are expected to enhance its market position and visibility. This is in line with the company's recent performance, as InvestingPro Data shows a revenue growth of 5.83% and a gross profit margin of 82.67%.
For those interested in more insights, InvestingPro offers 14 additional tips about Park City Group, Inc., and real-time metrics to keep you updated on the company's performance.
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