Sage Group PLC (OTCMKTS:SGPYY) Short Interest Up 149.3% in August

Sage Group PLC (OTCMKTS:SGPYYGet Free Report) was the target of a significant increase in short interest in August. As of August 14th, there was short interest totaling 23,248 shares, an increase of 149.3% from the July 30th total of 9,324 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 20,097 shares, the days-to-cover ratio is currently 1.2 days.

Wall Street Analyst Weigh In

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

Check Out Our Latest Analysis on Sage Group

Sage Group Stock Up 4.2%

Shares of Sage Group stock opened at $60.24 on Friday. Sage Group has a one year low of $41.80 and a one year high of $63.09. The business’s 50 day simple moving average is $49.89 and its two-hundred day simple moving average 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 stake in shares of Sage Group PLC (OTCMKTS:SGPYYFree Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 79,788 shares of the technology company’s stock, valued at approximately $641,000. Institutional investors own 0.65% of the company’s stock.

About Sage Group

(Get Free Report)

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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