Canaccord Genuity Group Cuts The Sage Group (LON:SGE) Price Target to GBX 1,080

Key Points

• Canaccord Genuity Group has reduced its target price for The Sage Group's stock from GBX 1,090 to GBX 1,080, indicating a potential downside of 11.98% from the previous close.
• JPMorgan Chase & Co. maintains an "overweight" rating with a price objective of GBX 1,500, while the average consensus price target for the stock is significantly higher at GBX 3,904.
• Insider Steve Hare bought 3,076 shares at an average price of GBX 1,206, suggesting confidence from company leadership in the stock's potential value.

The Sage Group (LON:SGE - Get Free Report) had its price objective decreased by analysts at Canaccord Genuity Group from GBX 1,090 ($14.49) to GBX 1,080 ($14.35) in a research note issued to investors on Thursday, Marketbeat.com reports. The firm presently has a "sell" rating on the stock. Canaccord Genuity Group's price objective would suggest a potential downside of 9.30% from the stock's current price.

Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. reissued an "overweight" rating and set a GBX 1,500 ($19.94) target price on shares of The Sage Group in a research note on Wednesday, July 2nd. Shore Capital reissued a "hold" rating on shares of The Sage Group in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of GBX 3,500 ($46.52).

The Sage Group Stock Performance

LON:SGE traded down GBX 8.26 ($0.11) during mid-day trading on Thursday, hitting GBX 1,190.76 ($15.83). The company's stock had a trading volume of 2,390,702 shares, compared to its average volume of 8,208,065. The Sage Group has a 1 year low of GBX 960 ($12.76) and a 1 year high of GBX 1,349 ($17.93). The company has a debt-to-equity ratio of 114.00, a current ratio of 0.76 and a quick ratio of 0.58. The stock has a market cap of £11.79 billion, a price-to-earnings ratio of 46.29, a PEG ratio of 1.22 and a beta of 0.53. The business's fifty day moving average is GBX 1,242.57 and its two-hundred day moving average is GBX 1,243.29.

The Sage Group (LON:SGE - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The company reported GBX 20.80 ($0.28) EPS for the quarter. The Sage Group had a net margin of 11.87% and a return on equity of 24.48%. Analysts anticipate that The Sage Group will post 42.1496095 EPS for the current fiscal year.

The Sage Group announced that its board has initiated a stock buyback program on Thursday, May 15th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

Insider Activity

In other The Sage Group news, insider Steve Hare purchased 3,076 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were purchased at an average cost of GBX 1,206 ($16.03) per share, with a total value of £37,096.56 ($49,304.31). 1.08% of the stock is owned by 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.