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

Sage Group PLC (OTCMKTS:SGPYY) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 288 shares, a drop of 82.2% from the September 15th total of 1,619 shares. Based on an average daily trading volume, of 22,141 shares, the short-interest ratio is currently 0.0 days. Currently, 0.0% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SGPYY shares. Jefferies Financial Group reaffirmed a “buy” rating on shares of Sage Group in a research report on Wednesday, July 29th. Investec raised shares of Sage Group to a “buy” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Sage Group in a research note on Thursday, July 30th. Morgan Stanley reaffirmed an “overweight” rating on shares of Sage Group in a research note on Friday, August 21st. Finally, Citigroup reaffirmed a “buy” rating on shares of Sage Group in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Sage Group Stock Up 3.4%

SGPYY stock opened at $57.00 on Friday. The business’s 50-day moving average is $55.48 and its two-hundred day moving average is $49.57. Sage Group has a 1 year low of $41.80 and a 1 year high of $63.09.

Sage Group Company Profile

Sage Group plc is a United Kingdom-based technology company that develops business-management software and services for small and midsized businesses. Its solutions are designed to help organizations manage accounting, financial reporting, payroll, human resources, payments and related administrative functions.

The company offers cloud-based products including Sage Business Cloud Accounting, Sage Intacct, Sage 50, Sage 200 and Sage X3, along with payroll, human resources and payment services.