Sage Group (OTCMKTS:SGPYY) Shares Gap Down – Time to Sell?

Sage Group PLC (OTCMKTS:SGPYY)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $60.16, but opened at $57.50. Sage Group shares last traded at $58.14, with a volume of 5,666 shares traded.

Wall Street Analyst Weigh In

SGPYY has been the subject of a number of research analyst reports. Citigroup reaffirmed a “buy” rating on shares of Sage Group in a research report on Thursday, July 30th. Morgan Stanley restated an “overweight” rating on shares of Sage Group in a research note on Friday, August 21st. Jefferies Financial Group reaffirmed a “buy” rating on shares of Sage Group in a report on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Sage Group in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Sage Group Stock Up 4.2%

The business’s 50 day moving average price is $49.89 and its 200-day moving average price is $47.42.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Sage Group stock. SPX Gestao de Recursos Ltda purchased a new position in shares of Sage Group PLC (OTCMKTS:SGPYY) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 79,788 shares of the technology company’s stock, valued at approximately $641,000. Hedge funds and other institutional investors own 0.65% of the company’s stock.

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.