Share Buyback Plan Announced by The Sage Group (LON:SGE)

The Sage Group (LON:SGE) declared that its board has approved a stock buyback plan on Wednesday, November 19th, RTT News reports. The company plans to buyback 0 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

The Sage Group Stock Up 2.8%

LON SGE traded up GBX 30.39 during trading on Wednesday, hitting GBX 1,106.39. 10,912,799 shares of the company traded hands, compared to its average volume of 8,367,465. The Sage Group has a 12 month low of GBX 1,034.50 and a 12 month high of GBX 1,349. The business has a fifty day simple moving average of GBX 1,117.39 and a 200 day simple moving average of GBX 1,174.14. The company has a market capitalization of £10.57 billion, a P/E ratio of 32.18, a PEG ratio of 1.22 and a beta of 0.53. The company has a current ratio of 0.76, a quick ratio of 0.58 and a debt-to-equity ratio of 114.00.

The Sage Group (LON:SGE) last issued its quarterly earnings data on Wednesday, November 19th. The company reported GBX 43.20 EPS for the quarter. The Sage Group had a return on equity of 24.48% and a net margin of 11.87%. As a group, sell-side analysts predict that The Sage Group will post 42.1496095 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SGE shares. JPMorgan Chase & Co. restated an “overweight” rating on shares of The Sage Group in a research report on Thursday, September 11th. Shore Capital reaffirmed a “hold” rating on shares of The Sage Group in a report on Wednesday, July 30th. Canaccord Genuity Group raised shares of The Sage Group to a “hold” rating and boosted their target price for the company from GBX 1,080 to GBX 1,100 in a research note on Monday, November 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 1,350 price target on shares of The Sage Group in a research note on Thursday, July 31st. Finally, Jefferies Financial Group reiterated a “buy” rating and set a GBX 1,480 price objective on shares of The Sage Group in a research report on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, The Sage Group has a consensus rating of “Hold” and an average price target of GBX 3,503.33.

About The Sage Group

The Sage Group plc, together with its subsidiaries, provides technology solutions and services for small and medium businesses in the United States, the United Kingdom, France, and internationally. It offers cloud native solutions, such as Sage Intacct, a cloud accounting software product and financial management software; Sage People, a HR and people management solution; Sage 200, a finance and business management solution; Sage X3, a business management solution; Sage Accounting, a solution for small businesses, accountants, and bookkeepers to manage customer data, accounts, and people; Sage Payroll for small businesses manage their payroll; and Sage HR for small and mid-sized businesses for record management, leave management, staff scheduling, and expenses services.