The Sage Group (LON:SGE) Shares Up 14.3% After Dividend Announcement

The Sage Group plc (LON:SGE)’s share price was up 14.3% during trading on Wednesday after the company announced a dividend. The company traded as high as GBX 1,320 ($16.62) and last traded at GBX 1,231.45 ($15.50). Approximately 141,714,766 shares were traded during trading, an increase of 2,699% from the average daily volume of 5,063,677 shares. The stock had previously closed at GBX 1,077 ($13.56).

The newly announced dividend which will be paid on Tuesday, February 11th. Investors of record on Thursday, January 9th will be paid a GBX 13.50 ($0.17) dividend. The ex-dividend date of this dividend is Thursday, January 9th. This is a boost from The Sage Group’s previous dividend of $6.95. This represents a dividend yield of 1.25%. The Sage Group’s dividend payout ratio (DPR) is currently 7,692.31%.

Analyst Ratings Changes

Several research firms have issued reports on SGE. Citigroup upped their price objective on The Sage Group from £135 ($169.96) to £145 ($182.55) and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. lowered their price target on shares of The Sage Group from GBX 1,300 ($16.37) to GBX 1,250 ($15.74) and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, Canaccord Genuity Group raised their price objective on shares of The Sage Group from GBX 970 ($12.21) to GBX 1,090 ($13.72) and gave the stock a “sell” rating in a research report on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of GBX 3,908 ($49.20).

The Sage Group Price Performance

The firm has a market capitalization of £12.68 billion, a price-to-earnings ratio of 4,907.69, a P/E/G ratio of 1.22 and a beta of 0.53. The company’s 50 day moving average is GBX 1,023.78 and its 200 day moving average is GBX 1,051.45. The company has a quick ratio of 0.58, a current ratio of 0.72 and a debt-to-equity ratio of 115.72.

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.