The Sage Group (LON:SGE) Trading 4% Higher – Here’s What Happened

The Sage Group plc (LON:SGE) shot up 4% during trading on Wednesday . The stock traded as high as GBX 1,024.50 and last traded at GBX 977.81. 4,831,095 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 44,621,711 shares. The stock had previously closed at GBX 939.80.

Wall Street Analyst Weigh In

SGE has been the topic of a number of analyst reports. Canaccord Genuity Group reiterated a “buy” rating and set a GBX 1,135 price objective on shares of The Sage Group in a research report on Wednesday. UBS Group reaffirmed a “buy” rating and issued a GBX 1,025 price target on shares of The Sage Group in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft lowered their price target on The Sage Group from GBX 1,000 to GBX 900 and set a “hold” rating for the company in a report on Tuesday, May 26th. Jefferies Financial Group reissued a “buy” rating and set a GBX 1,000 price objective on shares of The Sage Group in a research report on Wednesday. Finally, JPMorgan Chase & Co. decreased their target price on shares of The Sage Group from GBX 1,100 to GBX 1,000 and set an “overweight” rating on the stock in a research report on Wednesday, June 24th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of GBX 1,072.86.

The Sage Group Stock Performance

The firm has a 50-day moving average price of GBX 844.58 and a 200 day moving average price of GBX 870.90. The firm has a market capitalization of £8.78 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 1.22 and a beta of 0.30. The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 919.09.

The Sage Group (LON:SGE) last posted its quarterly earnings data on Friday, May 22nd. The company reported GBX 23.74 earnings per share (EPS) for the quarter. The firm had revenue of GBX 136.30 billion for the quarter. The Sage Group had a return on equity of 81.91% and a net margin of 14.62%. Research analysts expect that The Sage Group plc will post 42.1496095 earnings per share for the current year.

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.