The Sage Group (LON:SGE) Share Price Passes Above 200 Day Moving Average - Here's What Happened

The Sage Group plc (LON:SGE - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,253.92 ($17.13) and traded as high as GBX 1,274.34 ($17.41). The Sage Group shares last traded at GBX 1,260.86 ($17.23), with a volume of 3,712,529 shares changing hands.

Analysts Set New Price Targets

Separately, Shore Capital restated a "hold" rating on shares of The Sage Group in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of GBX 3,446.67 ($47.09).

The Sage Group Trading Up 0.3%

The business has a 50 day moving average of GBX 1,240.12 and a 200-day moving average of GBX 1,253.92. The company has a current ratio of 0.76, a quick ratio of 0.58 and a debt-to-equity ratio of 114.00. The firm has a market capitalization of £12.46 billion, a P/E ratio of 48.92, a PEG ratio of 1.22 and a beta of 0.53.

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

The Sage Group announced that its Board of Directors has initiated a stock buyback program on Thursday, May 15th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

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.

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