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

The Sage Group (LON:SGE) had its target price dropped by Citigroup from GBX 1,400 to GBX 1,150 in a note issued to investors on Tuesday,Digital Look reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 35.71% from the company’s previous close.

SGE has been the topic of several other research reports. JPMorgan Chase & Co. decreased 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 report on Thursday, December 4th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of The Sage Group from GBX 1,200 to GBX 1,150 and set a “hold” rating on the stock in a research report on Wednesday, January 28th. Jefferies Financial Group raised their target price on shares of The Sage Group from GBX 1,320 to GBX 1,350 and gave the stock a “buy” rating in a report on Thursday, November 20th. Panmure Gordon reaffirmed a “hold” rating and set a GBX 1,300 price target on shares of The Sage Group in a research note on Thursday, November 20th. Finally, Canaccord Genuity Group raised shares of The Sage Group to a “buy” rating and increased their price objective for the stock from GBX 1,100 to GBX 1,135 in a research report on Monday, February 2nd. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, The Sage Group has a consensus rating of “Moderate Buy” and an average target price of GBX 1,230.83.

The Sage Group Trading Up 0.7%

Shares of SGE stock opened at GBX 847.40 on Tuesday. The Sage Group has a 1 year low of GBX 771.66 and a 1 year high of GBX 1,335. The company has a debt-to-equity ratio of 219.31, a current ratio of 0.60 and a quick ratio of 0.58. The stock’s 50 day simple moving average is GBX 933.97 and its two-hundred day simple moving average is GBX 1,041.84. The company has a market cap of £7.96 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 1.22 and a beta of 0.35.

The Sage Group announced that its board has authorized a stock repurchase plan on Wednesday, November 19th that permits the company to repurchase 0 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at The Sage Group

In related news, insider Derek Harding bought 10,000 shares of the company’s stock in a transaction on Monday, February 9th. The shares were acquired at an average price of GBX 864 per share, with a total value of £86,400. Also, insider Lori Mitchell- Keller acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were bought at an average price of GBX 839 per share, with a total value of £83,900. In the last quarter, insiders have acquired 55,000 shares of company stock valued at $45,415,000. Company insiders own 1.00% of the company’s stock.

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.