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

Sage Group PLC (OTCMKTS:SGPYY) was the target of a large increase in short interest in the month of October. As of October 30th, there was short interest totaling 9,667 shares, an increase of 2,067.5% from the October 15th total of 446 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 18,273 shares, the days-to-cover ratio is currently 0.5 days.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SGPYY shares. Canaccord Genuity Group lowered shares of Sage Group from a “strong-buy” rating to a “hold” rating in a report on Monday, October 26th. Morgan Stanley restated an “overweight” rating on shares of Sage Group in a report on Friday, August 21st. Citigroup restated a “buy” rating on shares of Sage Group in a research note on Thursday, July 30th. Investec upgraded shares of Sage Group to a “buy” rating in a research note on Friday, October 9th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Sage Group in a report on Wednesday, July 29th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Sage Group Stock Down 0.1%

SGPYY traded down $0.04 on Thursday, hitting $61.77. 3,248 shares of the company traded hands, compared to its average volume of 51,900. The company has a 50 day moving average of $57.37 and a 200-day moving average of $50.31. Sage Group has a 12-month low of $41.80 and a 12-month high of $65.22.

About Sage Group

The Sage Group plc is a British software company that develops business-management tools, with a focus on accounting, finance, payroll and human resources. Its products help small and medium-sized businesses manage operations, meet reporting needs and organize financial information. Its offerings include accounting and financial-management software such as Sage 50, Sage 200 and Sage Intacct, as well as payroll, HR and enterprise resource planning solutions. Sage provides both cloud-based and desktop products.