Sage Group PLC (OTCMKTS:SGPYY) Stock Short Interest Drops 78.2%

Sage Group PLC (OTCMKTS:SGPYY) was the target of a significant drop in short interest in September. As of September 15th, there was short interest totaling 1,619 shares, a drop of 78.2% from the August 31st total of 7,424 shares. Based on an average daily trading volume, of 26,722 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

SGPYY has been the topic of several analyst reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of Sage Group in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Sage Group in a research report on Thursday, July 30th. Morgan Stanley restated 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 report on Thursday, July 30th. One equities 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 stock. Based on data from MarketBeat, Sage Group presently has a consensus rating of “Moderate Buy”.

Sage Group Stock Performance

Shares of SGPYY stock traded up $0.66 during midday trading on Friday, hitting $53.11. 7,891 shares of the company were exchanged, compared to its average volume of 11,641. Sage Group has a 52 week low of $41.80 and a 52 week high of $63.09. The firm’s 50 day moving average price is $54.46 and its two-hundred day moving average price is $48.99.

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.