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

Sage Group PLC (OTCMKTS:SGPYY) saw a significant increase in short interest in the month of 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. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 20,097 shares, the short-interest ratio is currently 1.2 days.

Sage Group Stock Performance

Shares of OTCMKTS SGPYY opened at $60.24 on Friday. The firm has a fifty day simple moving average of $49.89 and a two-hundred day simple moving average of $47.42. Sage Group has a 12 month low of $41.80 and a 12 month high of $63.09.

Institutional Trading of Sage Group

A hedge fund recently bought a new stake in Sage Group stock. SPX Gestao de Recursos Ltda acquired a new stake in shares of Sage Group PLC (OTCMKTS:SGPYY) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 79,788 shares of the technology company’s stock, valued at approximately $641,000. Institutional investors and hedge funds own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SGPYY shares. Morgan Stanley restated an “overweight” rating on shares of Sage Group in a report on Friday, August 21st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Sage Group in a report on Thursday, July 30th. Citigroup reiterated a “buy” rating on shares of Sage Group in a research report on Thursday, July 30th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Sage Group in a research note on Wednesday, July 29th. One 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate 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.