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

Sage Group PLC (OTCMKTS:SGPYY) was the recipient of a large drop in short interest during the month of 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 volume of 26,722 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the company’s shares are short sold.

Sage Group Trading Up 1.2%

Shares of OTCMKTS SGPYY traded up $0.66 during midday trading on Friday, hitting $53.11. The company’s stock had a trading volume of 7,891 shares, compared to its average volume of 11,641. The business’s fifty day simple moving average is $54.46 and its two-hundred day simple moving average is $48.99. Sage Group has a 1 year low of $41.80 and a 1 year high of $63.09.

Analysts Set New Price Targets

A number of brokerages have issued reports on SGPYY. 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 report on Friday, August 21st. Citigroup reaffirmed a “buy” 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 report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

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.