Sage Group (OTCMKTS:SGPYY) Shares Gap Down - Should You 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) 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 Analyst Weigh In

SGPYY has been the topic of several recent research reports. Jefferies Financial Group reiterated a "buy" rating on shares of Sage Group in a research report on Wednesday, June 25th. Oddo Bhf began coverage on Sage Group in a research report on Thursday, July 10th. They set an "outperform" rating on the stock.

Sage Group Stock Up 0.3%

The company has a fifty day moving average of $66.28 and a 200 day moving average of $64.98.

Sage Group Cuts Dividend

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

Sage Group Company Profile

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.