Bryan, Garnier & Co Upgrades The Sage Group plc (SGE) to “Buy”
The Sage Group plc (LON:SGE) was upgraded by research analysts at Bryan, Garnier & Co to a “buy” rating in a report issued on Friday. The firm presently has a GBX 830 ($11.19) price target on the stock, up from their previous price target of GBX 720 ($9.71). Bryan, Garnier & Co’s target price indicates a potential upside of 16.65% from the company’s previous close.
Several other research firms have also recently issued reports on SGE. Numis Securities Ltd cut shares of The Sage Group plc to a “hold” rating and cut their price objective for the stock from GBX 765 ($10.31) to GBX 756 ($10.19) in a research report on Monday, June 5th. Deutsche Bank AG restated a “hold” rating and set a GBX 650 ($8.76) price objective on shares of The Sage Group plc in a research report on Monday, June 5th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a GBX 780 ($10.52) target price on shares of The Sage Group plc in a research note on Monday, June 5th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a GBX 860 ($11.59) target price on shares of The Sage Group plc in a research note on Monday, June 5th. Finally, Barclays PLC raised shares of The Sage Group plc to an “equal weight” rating and set a GBX 685 ($9.24) target price for the company in a research note on Thursday, September 14th. Four analysts have rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of GBX 712.14 ($9.60).
Shares of The Sage Group plc (LON SGE) opened at 711.50 on Friday. The Sage Group plc has a 52-week low of GBX 594.99 and a 52-week high of GBX 807.49. The stock’s market capitalization is GBX 7.68 billion. The firm has a 50-day moving average of GBX 691.80 and a 200 day moving average of GBX 680.13.
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In other news, insider Steve Hare sold 93,136 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of GBX 681 ($9.18), for a total value of £634,256.16 ($855,138.41).
The Sage Group plc Company Profile
The Sage Group plc is a United Kingdom-based company, which provides integrated accounting, payroll and payments solutions. The Company also provides the option of solutions hosted locally and accessed on-premise. The Company’s segments include Europe, which consists of France, the United Kingdom and the Ireland, Spain, Germany, Switzerland, Poland, Portugal and Sagepay; North America, which consists of the United States and Canada, and International, which consists of Brazil, Africa, Australia, the Middle East and Asia.
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