Sage Group PLC (OTCMKTS:SGPYY) Shares Shorted: Short Interest Up 2,067.5% in October

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

Wall Street Analysts Forecast Growth

SGPYY has been the topic of a number of recent analyst reports. Canaccord Genuity Group cut shares of Sage Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 26th. Morgan Stanley reiterated an “overweight” rating on shares of Sage Group in a research report on Friday, August 21st. Citigroup reiterated a “buy” rating on shares of Sage Group in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Sage Group in a research note on Thursday, July 30th. Finally, Investec upgraded shares of Sage Group to a “buy” rating in a research report on Friday, October 9th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Sage Group Price Performance

OTCMKTS:SGPYY traded down $1.01 on Tuesday, reaching $61.36. 9,284 shares of the company’s stock traded hands, compared to its average volume of 10,575. The stock has a 50-day simple moving average of $57.28 and a 200-day simple moving average of $50.29. 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.