Sage Group (OTCMKTS:SGPYY) Stock Crosses Below Fifty Day Moving Average - Here's What Happened

Key Points

• The Sage Group PLC stock (OTCMKTS:SGPYY) has crossed below its 50-day moving average of $63.07, trading as low as $59.39.
• Analysts maintain a Moderate Buy rating, with two firms issuing a Buy rating and one downgrading to Hold.
• Sage Group offers a range of cloud-based technology solutions for small and medium businesses, including accounting and HR management software.

Sage Group PLC (OTCMKTS:SGPYY - Get Free Report) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $63.07 and traded as low as $59.39. Sage Group shares last traded at $59.42, with a volume of 89,568 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SGPYY. Oddo Bhf began coverage on shares of Sage Group in a research report on Thursday, July 10th. They issued an "outperform" rating for the company. Jefferies Financial Group restated a "buy" rating on shares of Sage Group in a research report on Wednesday, June 25th. Finally, Zacks Research cut shares of Sage Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Sage Group presently has an average rating of "Moderate Buy".

Sage Group Stock Performance

The company's 50-day moving average price is $63.07 and its two-hundred day moving average price is $64.13.

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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