Short Interest in Sage Group PLC (OTCMKTS:SGPYY) Expands By 149.3%

Sage Group PLC (OTCMKTS:SGPYY) was the recipient of a significant growth in short interest in August. As of August 14th, there was short interest totaling 23,248 shares, a growth of 149.3% from the July 30th total of 9,324 shares. Based on an average daily volume of 20,097 shares, the short-interest ratio is currently 1.2 days. Currently, 0.0% of the company’s shares are sold short.

Institutional Investors Weigh In On Sage Group

An institutional investor recently bought a new position in Sage Group stock. SPX Gestao de Recursos Ltda bought a new stake in Sage Group PLC (OTCMKTS:SGPYY) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 79,788 shares of the technology company’s stock, valued at approximately $641,000. 0.65% of the stock is owned by hedge funds and other institutional investors.

Sage Group Price Performance

SGPYY opened at $59.12 on Friday. The business’s 50-day moving average price is $50.22 and its two-hundred day moving average price is $47.50. Sage Group has a 1 year low of $41.80 and a 1 year high of $63.09.

Analyst Upgrades and Downgrades

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

About Sage Group

Sage Group plc is a global provider of business management software and services tailored primarily to small and medium-sized enterprises. The company delivers a suite of cloud-based and on-premises solutions designed to simplify accounting, payroll, human resources, enterprise resource planning (ERP) and payment processing. Through its flagship Sage Business Cloud platform, Sage enables customers to manage financials, operations and workforce activities via integrated applications and data analytics.

The company’s product portfolio includes accounting and invoicing tools, payroll management systems, payment solutions and HR management software.