Sage Group (OTCMKTS:SGPYY) Shares Gap Down - Time to Sell?

Key Points

• Sage Group's shares experienced a significant drop, gapping down from a previous close of $61.77 to an opening price of $58.82 before trading at $59.15.
• Several analysts, including Jefferies Financial Group, have maintained a "buy" rating on Sage Group, with Oddo Bhf issuing an "outperform" rating.
• In a recent move, Sage Group declared a dividend of $0.3366, resulting in a high yield of 140.0% for shareholders who were recorded before the ex-dividend date.

Sage Group PLC (OTCMKTS:SGPYY - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $61.77, but opened at $58.82. Sage Group shares last traded at $59.15, with a volume of 6,140 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SGPYY. Jefferies Financial Group restated a "buy" rating on shares of Sage Group in a report on Wednesday, June 25th. Oddo Bhf began coverage on Sage Group in a research note on Thursday, July 10th. They issued an "outperform" rating on the stock.

Sage Group Stock Down 4.0%

The stock has a 50 day moving average of $66.92 and a two-hundred day moving average of $65.18.

Sage Group Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, July 11th. Shareholders of record on Monday, June 2nd were given a $0.3366 dividend. This represents a yield of 140.0%. The ex-dividend date of this dividend was Friday, May 30th.

About Sage Group

The Sage Group plc, together with its subsidiaries, provides technology solutions and services for small and medium businesses in the United States, the United Kingdom, France, and internationally. It offers cloud native solutions, such as Sage Intacct, a cloud accounting software product and financial management software; Sage People, a HR and people management solution; Sage 200, a finance and business management solution; Sage X3, a business management solution; Sage Accounting, a solution for small businesses, accountants, and bookkeepers to manage customer data, accounts, and people; Sage Payroll for small businesses manage their payroll; and Sage HR for small and mid-sized businesses for record management, leave management, staff scheduling, and expenses services.

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