The Sage Group (LON:SGE) Given New GBX 1,150 Price Target at Citigroup

The Sage Group (LON:SGE) had its price target lowered by investment analysts at Citigroup from GBX 1,400 to GBX 1,150 in a research note issued on Tuesday,Digital Look reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 35.71% from the company’s previous close.

Several other research analysts have also commented on the stock. Shore Capital Group restated a “hold” rating on shares of The Sage Group in a report on Tuesday, January 27th. Canaccord Genuity Group raised The Sage Group to a “buy” rating and boosted their target price for the stock from GBX 1,100 to GBX 1,135 in a report on Monday, February 2nd. Panmure Gordon restated a “hold” rating and issued a GBX 1,300 price objective on shares of The Sage Group in a report on Thursday, November 20th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of The Sage Group from GBX 1,200 to GBX 1,150 and set a “hold” rating on the stock in a report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. dropped their price target on The Sage Group from GBX 1,500 to GBX 1,300 and set an “overweight” rating on the stock in a research note on Thursday, December 4th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, The Sage Group currently has an average rating of “Moderate Buy” and an average price target of GBX 1,230.83.

The Sage Group Stock Performance

Shares of SGE stock opened at GBX 847.40 on Tuesday. The company has a market capitalization of £7.96 billion, a P/E ratio of 22.80, a PEG ratio of 1.22 and a beta of 0.35. The Sage Group has a fifty-two week low of GBX 771.66 and a fifty-two week high of GBX 1,335. The company has a debt-to-equity ratio of 219.31, a quick ratio of 0.58 and a current ratio of 0.60. The stock has a 50 day moving average price of GBX 933.97 and a two-hundred day moving average price of GBX 1,041.84.

The Sage Group announced that its board has initiated a stock repurchase program on Wednesday, November 19th that allows the company to buyback 0 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity at The Sage Group

In related news, insider Lori Mitchell- Keller bought 10,000 shares of the stock in a transaction dated Tuesday, February 17th. The shares were purchased at an average price of GBX 839 per share, with a total value of £83,900. Also, insider Derek Harding bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were bought at an average price of GBX 864 per share, with a total value of £86,400. In the last 90 days, insiders have acquired 55,000 shares of company stock valued at $45,415,000. 1.00% of the stock is owned by company insiders.

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.