Sage Group (OTCMKTS:SGPYY) Rating Lowered to “Hold” at Canaccord Genuity Group

Sage Group (OTCMKTS:SGPYY) was downgraded by investment analysts at Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

Several other equities analysts also recently issued reports on SGPYY. Citigroup reaffirmed a “buy” rating on shares of Sage Group in a research note on Thursday, July 30th. Jefferies Financial Group reissued a “buy” rating on shares of Sage Group in a research note on Wednesday, July 29th. Morgan Stanley reissued an “overweight” rating on shares of Sage Group in a research note on Friday, August 21st. Investec upgraded Sage Group to a “buy” rating in a report on Friday, October 9th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Sage Group in a research report on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Sage Group Trading Down 3.2%

Shares of OTCMKTS SGPYY opened at $61.89 on Monday. The company has a 50 day simple moving average of $56.51 and a 200 day simple moving average of $49.99. Sage Group has a 1 year low of $41.80 and a 1 year high of $64.55.

About Sage Group

The Sage Group plc is a United Kingdom-based technology company that develops business-management software and services for small and medium-sized businesses. Its solutions are designed to help organizations manage accounting, finance, payroll, human resources, enterprise operations and related administrative processes.

Sage’s product portfolio includes cloud-based accounting and financial-management applications, payroll and human-resources tools, enterprise-management software, and payment-related services.