Sage Group (OTCMKTS:SGPYY) Shares Gap Down – Here’s Why

Sage Group PLC (OTCMKTS:SGPYY) shares gapped down before the market opened on Thursday . The stock had previously closed at $59.63, but opened at $55.68. Sage Group shares last traded at $55.67, with a volume of 313 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SGPYY. Canaccord Genuity Group upgraded shares of Sage Group from a “strong sell” rating to a “hold” rating in a research report on Monday, November 3rd. Zacks Research cut shares of Sage Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Finally, UBS Group raised Sage Group from a “hold” rating to a “buy” rating in a report on Monday. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Sage Group presently has an average rating of “Moderate Buy”.

Sage Group Stock Up 1.2%

The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 2.17. The company has a fifty day moving average price of $57.63 and a two-hundred day moving average price of $60.31.

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.