Sage Group PLC (OTCMKTS:SGPYY) Sees Significant Decrease in Short Interest

Sage Group PLC (OTCMKTS:SGPYY) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 7,424 shares, a decrease of 68.1% from the August 15th total of 23,248 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average trading volume of 20,771 shares, the short-interest ratio is currently 0.4 days.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SGPYY. Citigroup restated a “buy” rating on shares of Sage Group in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Sage Group in a research report on Thursday, July 30th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Sage Group in a report on Wednesday, July 29th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Sage Group in a research note on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Sage Group currently has an average rating of “Moderate Buy”.

Sage Group Price Performance

OTCMKTS SGPYY opened at $51.88 on Monday. Sage Group has a twelve month low of $41.80 and a twelve month high of $63.09. The stock has a 50-day simple moving average of $52.71 and a 200 day simple moving average of $48.36.

About Sage Group

The Sage Group plc is a United Kingdom-based technology company that provides business management software and services for small and mid-sized businesses. Its products are designed to help organizations manage core administrative and financial functions, including accounting, payroll, human resources, payments and enterprise financial management.

Sage offers cloud-based and connected software solutions, including Sage Business Cloud products and Sage Intacct, along with related services such as payroll processing, compliance support and financial reporting.