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

Sage Group PLC (OTCMKTS:SGPYY) shares gapped up prior to trading on Friday. The stock had previously closed at $56.42, but opened at $61.25. Sage Group shares last traded at $60.85, with a volume of 1,131 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SGPYY shares. Citigroup restated a “buy” rating on shares of Sage Group in a report on Thursday, July 30th. Morgan Stanley reissued an “overweight” rating on shares of Sage Group in a report on Friday, August 21st. Jefferies Financial Group reissued a “buy” rating on shares of Sage Group in a research note on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Sage Group in a research report on Thursday, July 30th. Finally, Investec upgraded Sage Group to a “buy” rating in a research report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Sage Group presently has an average rating of “Moderate Buy”.

Sage Group Stock Performance

The stock’s 50 day simple moving average is $55.75 and its two-hundred day simple moving average is $50.03.

Sage Group Company Profile

Sage Group plc is a United Kingdom-based technology company that develops business-management software and services for small and midsized businesses. Its solutions are designed to help organizations manage accounting, financial reporting, payroll, human resources, payments and related administrative functions.

The company offers cloud-based products including Sage Business Cloud Accounting, Sage Intacct, Sage 50, Sage 200 and Sage X3, along with payroll, human resources and payment services.