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

The Sage Group (LON:SGE) had its price target decreased by Citigroup from GBX 1,400 to GBX 1,150 in a report published on Tuesday, MarketBeat Ratings reports. Citigroup currently has a buy rating on the stock.

Several other research analysts also recently commented on the company. 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 report on Thursday, December 4th. Deutsche Bank Aktiengesellschaft reduced their price objective on The Sage Group from GBX 1,200 to GBX 1,150 and set a “hold” rating for the company in a research report on Wednesday, January 28th. Shore Capital Group restated a “hold” rating on shares of The Sage Group in a research note on Tuesday, January 27th. Panmure Gordon reaffirmed a “hold” rating and set a GBX 1,300 target price on shares of The Sage Group in a research report on Thursday, November 20th. Finally, Jefferies Financial Group upped their target price on shares of The Sage Group from GBX 1,320 to GBX 1,350 and gave the company a “buy” rating in a research note on Thursday, November 20th. 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 stock has an average rating of “Moderate Buy” and a consensus target price of GBX 1,230.83.

The Sage Group Trading Down 0.5%

The Sage Group stock opened at GBX 838 on Tuesday. The Sage Group has a 52 week low of GBX 771.66 and a 52 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 firm has a market capitalization of £7.84 billion, a PE ratio of 22.55, a PEG ratio of 1.22 and a beta of 0.35. The business’s 50-day simple moving average is GBX 929.06 and its 200-day simple moving average is GBX 1,039.99.

The Sage Group declared that its board has approved a stock repurchase plan on Wednesday, November 19th that permits the company to repurchase 0 shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider John Bates bought 35,000 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was acquired at an average cost of GBX 811 per share, for a total transaction of £283,850. Also, insider Derek Harding bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was purchased at an average price of GBX 864 per share, with a total value of £86,400. In the last quarter, insiders bought 55,000 shares of company stock worth $45,415,000. 1.00% of the stock is currently owned by company insiders.

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.