Sage Group PLC (OTCMKTS:SGPYY) Shares Shorted: Short Interest Up 2,067.5% in October

Sage Group PLC (OTCMKTS:SGPYY) was the target of a large increase in short interest in the month of October. As of October 30th, there was short interest totaling 9,667 shares, an increase of 2,067.5% from the October 15th total of 446 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 18,273 shares, the days-to-cover ratio is presently 0.5 days.

Sage Group Price Performance

Sage Group stock traded down $1.01 during trading on Tuesday, reaching $61.36. The company had a trading volume of 9,284 shares, compared to its average volume of 10,575. The firm’s 50-day simple moving average is $57.28 and its 200 day simple moving average is $50.29. Sage Group has a 52 week low of $41.80 and a 52 week high of $65.22.

Analyst Ratings Changes

SGPYY has been the subject of several research reports. Investec raised shares of Sage Group to a “buy” rating in a research report on Friday, October 9th. Morgan Stanley reissued an “overweight” rating on shares of Sage Group in a report on Friday, August 21st. Canaccord Genuity Group lowered shares of Sage Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 26th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Sage Group in a report on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Sage Group in a report on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Sage Group Company Profile

The Sage Group plc is a British software company that develops business-management tools, with a focus on accounting, finance, payroll and human resources. Its products help small and medium-sized businesses manage operations, meet reporting needs and organize financial information. Its offerings include accounting and financial-management software such as Sage 50, Sage 200 and Sage Intacct, as well as payroll, HR and enterprise resource planning solutions. Sage provides both cloud-based and desktop products.