Sage Group PLC (OTCMKTS:SGPYY) Sees Significant Decrease in Short Interest

Key Points

• Short interest in Sage Group PLC decreased by 48.3% in July, dropping from 15,100 shares to 7,800 shares.
• Analysts have recently given Sage Group a mix of ratings, with Oddo Bhf issuing an "outperform" rating and Jefferies maintaining a "buy" rating.
• Sage Group's stock slipped 0.2% to $59.01, underperforming its 50-day moving average of $66.28.

Sage Group PLC (OTCMKTS:SGPYY - Get Free Report) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 7,800 shares, adropof48.3% from the July 15th total of 15,100 shares. Currently,0.0% of the company's shares are sold short. Based on an average daily volume of 150,800 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 150,800 shares, the days-to-cover ratio is currently 0.1 days. Currently,0.0% of the company's shares are sold short.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Jefferies Financial Group restated a "buy" rating on shares of Sage Group in a report on Wednesday, June 25th. Zacks Research downgraded Sage Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Finally, Oddo Bhf assumed coverage on Sage Group in a report on Thursday, July 10th. They set an "outperform" rating on the stock. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy".

Sage Group Trading Up 0.9%

Shares of OTCMKTS:SGPYY traded up $0.51 on Friday, reaching $59.44. The company had a trading volume of 16,947 shares, compared to its average volume of 36,795. Sage Group has a 52-week low of $49.22 and a 52-week high of $69.79. The firm's 50 day simple moving average is $65.41 and its 200-day simple moving average is $64.76.

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.