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

The Sage Group plc (LON:SGE - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,232.02 ($16.46) and traded as high as GBX 1,301 ($17.38). The Sage Group shares last traded at GBX 1,279.50 ($17.09), with a volume of 2,535,734 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SGE. Canaccord Genuity Group reissued a "sell" rating and issued a GBX 1,090 ($14.56) target price on shares of The Sage Group in a report on Thursday, January 30th. Shore Capital reaffirmed 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 assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of GBX 3,446.67 ($46.04).

The Sage Group Price Performance

The stock has a market capitalization of £12.20 billion, a price-to-earnings ratio of 47.90, a price-to-earnings-growth ratio of 1.22 and a beta of 0.53. 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 company's 50 day moving average is GBX 1,201.21 and its 200 day moving average is GBX 1,236.59.

The Sage Group (LON:SGE - Get Free Report) last issued its quarterly earnings data 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%. Research analysts anticipate that The Sage Group plc will post 42.1496095 EPS for the current fiscal year.

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