Canaccord Genuity Group Reaffirms Hold Rating for The Sage Group (LON:SGE)

The Sage Group (LON:SGE)‘s stock had its “hold” rating reissued by equities research analysts at Canaccord Genuity Group in a note issued to investors on Thursday,London Stock Exchange reports. They presently have a GBX 1,100 price target on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 1.24% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a GBX 1,350 target price on shares of The Sage Group in a report on Thursday, July 31st. Shore Capital reissued a “hold” rating on shares of The Sage Group in a research report on Wednesday, July 30th. Jefferies Financial Group upped their price objective on The Sage Group from GBX 1,320 to GBX 1,350 and gave the company a “buy” rating in a research note on Thursday. Panmure Gordon reiterated a “hold” rating and set a GBX 1,300 target price on shares of The Sage Group in a research note on Thursday. Finally, JPMorgan Chase & Co. reissued an “overweight” rating on shares of The Sage Group in a report on Thursday, September 11th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of GBX 3,170.

The Sage Group Stock Down 0.2%

Shares of LON:SGE traded down GBX 2.50 during midday trading on Thursday, hitting GBX 1,086.50. The stock had a trading volume of 39,309,211 shares, compared to its average volume of 8,506,557. The Sage Group has a 12 month low of GBX 1,034.50 and a 12 month high of GBX 1,349. The company has a quick ratio of 0.58, a current ratio of 0.76 and a debt-to-equity ratio of 114.00. The business’s 50-day simple moving average is GBX 1,117.39 and its 200-day simple moving average is GBX 1,174.14. The company has a market cap of £10.38 billion, a P/E ratio of 31.60, a PEG ratio of 1.22 and a beta of 0.53.

The Sage Group (LON:SGE) last posted its quarterly earnings results on Wednesday, November 19th. The company reported GBX 43.20 earnings per share (EPS) for the quarter. The Sage Group had a net margin of 11.87% and a return on equity of 24.48%. On average, sell-side analysts forecast that The Sage Group will post 42.1496095 earnings per share for the current fiscal year.

The Sage Group announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, November 19th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

The Sage Group Company Profile

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.