The Sage Group (LON:SGE) Reaches New 52-Week High – Here’s Why

The Sage Group plc (LON:SGE) shares hit a new 52-week high on Thursday. The company traded as high as GBX 1,186.56 and last traded at GBX 1,186.56, with a volume of 2,753,310 shares trading hands. The stock had previously closed at GBX 1,148.57.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SGE shares. Jefferies Financial Group restated a “buy” rating and issued a GBX 1,000 price objective on shares of The Sage Group in a research note on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft raised their price objective on The Sage Group from GBX 900 to GBX 1,050 and gave the stock a “hold” rating in a report on Thursday, July 30th. Canaccord Genuity Group reiterated a “buy” rating and set a GBX 1,135 target price on shares of The Sage Group in a research report on Wednesday, July 29th. Finally, Citigroup lifted their target price on The Sage Group from GBX 1,050 to GBX 1,150 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 1,094.29.

The Sage Group Stock Down 1.7%

The business’s fifty day moving average price is GBX 1,051.26 and its 200 day moving average price is GBX 939.66. The firm has a market capitalization of £10.54 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 1.22 and a beta of 0.35. The company has a current ratio of 0.62, a quick ratio of 0.58 and a debt-to-equity ratio of 919.09.

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.