Short Interest in Sage Group PLC (OTCMKTS:SGPYY) Decreases By 93.6%

Key Points

• Sage Group PLC experienced a 93.6% decrease in short interest from July to August, with total short interest dropping to 500 shares.
• The company's stock traded down 2.2% to $57.47, with its average daily trading volume at 54,700 shares.
• Analysts have mixed opinions on Sage Group, with two analysts rating it a Buy, one a Hold, and a current average rating of "Moderate Buy".

Sage Group PLC (OTCMKTS:SGPYY - Get Free Report) saw a significant drop in short interest in the month of August. As of August 15th, there was short interest totaling 500 shares, adropof93.6% from the July 31st total of 7,800 shares. Based on an average daily volume of 54,700 shares, the days-to-cover ratio is presently 0.0 days. Based on an average daily volume of 54,700 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analysts Forecast Growth

SGPYY has been the subject of several recent research reports. Oddo Bhf initiated coverage on Sage Group in a research report on Thursday, July 10th. They set an "outperform" rating for the company. Jefferies Financial Group reissued 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 note on Tuesday, August 19th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

Sage Group Stock Performance

Shares of Sage Group stock traded up $0.91 on Friday, hitting $58.67. The stock had a trading volume of 47,097 shares, compared to its average volume of 25,561. The stock has a 50 day moving average of $63.43 and a 200 day moving average of $64.22. Sage Group has a twelve month low of $49.22 and a twelve month high of $69.79.

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.