Short Interest in Sage Group PLC (OTCMKTS:SGPYY) Decreases By 89.8%

Key Points

• Short interest plunged 89.8%, falling to 198 shares as of Feb. 27, leaving 0.0% of the stock sold short and a days-to-cover ratio of 0.0.
• Analysts show a consensus "Buy" rating (one Strong Buy, three Buys, one Hold) with recent upgrades from UBS and Canaccord, although Zacks downgraded the stock to Hold.
• Sage shares traded down to $44.81 on volume of 178,145, trading below the 50-day and 200-day moving averages of $50.46 and $55.95 and within a 52-week range of $41.99–$69.79.

Sage Group PLC (OTCMKTS:SGPYY - Get Free Report) was the recipient of a large decline in short interest in February. As of February 27th, there was short interest totaling 198 shares, a decline of 89.8% from the February 12th total of 1,942 shares. Based on an average daily volume of 145,803 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the company's stock are sold short. Currently, 0.0% of the company's stock are sold short. Based on an average daily volume of 145,803 shares, the days-to-cover ratio is currently 0.0 days.

Sage Group Price Performance

OTCMKTS:SGPYY traded down $1.08 during trading hours on Tuesday, hitting $44.81. The company's stock had a trading volume of 178,145 shares, compared to its average volume of 80,548. The stock has a fifty day moving average of $50.46 and a 200-day moving average of $55.95. Sage Group has a 52-week low of $41.99 and a 52-week high of $69.79. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.64 and a current ratio of 0.64.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SGPYY. UBS Group raised Sage Group from a "hold" rating to a "buy" rating in a research report on Monday, January 12th. Canaccord Genuity Group upgraded shares of Sage Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 2nd. Finally, Zacks Research cut shares of Sage Group from a "strong-buy" rating to a "hold" rating in a report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Sage Group has a consensus rating of "Buy".

About Sage Group

Sage Group plc is a global provider of business management software and services tailored primarily to small and medium-sized enterprises. The company delivers a suite of cloud-based and on-premises solutions designed to simplify accounting, payroll, human resources, enterprise resource planning (ERP) and payment processing. Through its flagship Sage Business Cloud platform, Sage enables customers to manage financials, operations and workforce activities via integrated applications and data analytics.

The company's product portfolio includes accounting and invoicing tools, payroll management systems, payment solutions and HR management software.

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