Sage Group PLC (OTCMKTS:SGPYY) Short Interest Down 68.1% in August

Sage Group PLC (OTCMKTS:SGPYY) saw a large drop in short interest in August. As of August 31st, there was short interest totaling 7,424 shares, a drop of 68.1% from the August 15th total of 23,248 shares. Based on an average daily volume of 20,771 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.0% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Citigroup restated a “buy” rating on shares of Sage Group in a research note on Thursday, July 30th. Jefferies Financial Group restated a “buy” rating on shares of Sage Group in a research note on Wednesday, July 29th. Morgan Stanley reaffirmed an “overweight” rating on shares of Sage Group in a report on Friday, August 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” 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, four have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Sage Group Stock Down 2.0%

Shares of OTCMKTS SGPYY traded down $1.05 during midday trading on Friday, reaching $51.88. 11,259 shares of the company traded hands, compared to its average volume of 11,728. The stock’s 50-day simple moving average is $52.71 and its 200-day simple moving average is $48.32. Sage Group has a 12 month low of $41.80 and a 12 month high of $63.09.

Sage Group Company Profile

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.