The Sage Group plc (LON:SGE)’s share price traded up 2.6% on Tuesday . The company traded as high as GBX 709.36 ($9.80) and last traded at GBX 709.36 ($9.80). 2,810,000 shares traded hands during mid-day trading, a decline of 19% from the average session volume of 3,480,000 shares. The stock had previously closed at GBX 691.20 ($9.55).
A number of equities analysts have recently weighed in on the company. Goldman Sachs Group cut their target price on The Sage Group from GBX 970 ($13.40) to GBX 925 ($12.78) and set a “buy” rating on the stock in a research note on Tuesday, January 30th. Credit Suisse Group restated a “neutral” rating and issued a GBX 790 ($10.91) target price on shares of The Sage Group in a research note on Friday, January 26th. Canaccord Genuity restated a “sell” rating and issued a GBX 636 ($8.79) target price on shares of The Sage Group in a research note on Friday, January 26th. Bryan, Garnier & Co cut their target price on The Sage Group from GBX 860 ($11.88) to GBX 850 ($11.74) and set a “buy” rating on the stock in a research note on Thursday, January 25th. Finally, Numis Securities downgraded The Sage Group to a “hold” rating and set a GBX 855 ($11.81) target price on the stock. in a research note on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of GBX 783.09 ($10.82).
The firm has a market cap of $7,690.00 and a P/E ratio of 2,928.33.
In related news, insider Steve Hare sold 88,880 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of GBX 759 ($10.49), for a total value of £674,599.20 ($932,024.32).
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About The Sage Group
The Sage Group plc is a United Kingdom-based company, which provides integrated accounting, payroll and payments solutions. The Company also provides the option of solutions hosted locally and accessed on-premise. The Company’s segments include Europe, which consists of France, the United Kingdom and the Ireland, Spain, Germany, Switzerland, Poland, Portugal and Sagepay; North America, which consists of the United States and Canada, and International, which consists of Brazil, Africa, Australia, the Middle East and Asia.
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