Microlise Group (LON:SAAS) Shares Down 1.7% - Here's What Happened

Key Points

• Microlise Group plc shares dropped 1.7% to GBX 145 ($1.97), with trading volume significantly increasing by 578% from the average session.
• Analysts remain optimistic, with Berenberg Bank and Canaccord Genuity issuing a "buy" rating and price targets of GBX 210 and GBX 199, respectively, leading to a consensus price target of GBX 204.50.
• Insider Nick Wightman purchased 18,827 shares at an average price of GBX 106, indicating strong insider confidence in the company.

Microlise Group plc (LON:SAAS - Get Free Report) shares were down 1.7% during trading on Thursday . The company traded as low as GBX 145 ($1.95) and last traded at GBX 145 ($1.95). Approximately 893,362 shares traded hands during trading, an increase of 578% from the average daily volume of 131,668 shares. The stock had previously closed at GBX 147.50 ($1.99).

Analyst Ratings Changes

A number of research analysts recently commented on SAAS shares. Canaccord Genuity Group reaffirmed a "buy" rating and set a GBX 199 price objective on shares of Microlise Group in a research report on Thursday, July 31st. Berenberg Bank reissued a "buy" rating and issued a GBX 210 target price on shares of Microlise Group in a research report on Monday, August 4th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of GBX 204.50.

Microlise Group Price Performance

The stock's 50 day moving average price is GBX 133.50 and its two-hundred day moving average price is GBX 114.62. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.25 and a quick ratio of 1.08. The firm has a market capitalization of £169.28 million, a price-to-earnings ratio of -8,248.59 and a beta of 0.19.

Insider Transactions at Microlise Group

In related news, insider Nick Wightman bought 18,827 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average price of GBX 106 per share, with a total value of £19,956.62. Company insiders own 51.87% of the company's stock.

About Microlise Group

Microlise is a leading provider of transport management software to fleet operators helping them to improve efficiency, safety, and reduce emissions These improvements are delivered through reduced fuel use, reduced mileage travelled, improved driver performance, fewer accidents, elimination of paperwork and delivery of an enhanced customer experience Established in 1982, Microlise is an award-winning business with around 350 employees based at the Group's headquarters in Nottingham, as part of a total staff of 500 globally with international offices in France, India and Australia