Canaccord Genuity Cuts The Sage Group (SGE) Price Target to GBX 540

The Sage Group (LON:SGE) had its price objective dropped by investment analysts at Canaccord Genuity from GBX 636 ($9.11) to GBX 540 ($7.73) in a report issued on Tuesday. The firm currently has a “sell” rating on the stock. Canaccord Genuity’s price objective indicates a potential downside of 11.42% from the stock’s previous close.

A number of other research firms have also commented on SGE. JPMorgan Chase reissued an “overweight” rating and issued a GBX 830 ($11.88) price target on shares of The Sage Group in a research report on Monday, December 18th. Shore Capital reissued a “buy” rating on shares of The Sage Group in a research report on Wednesday, January 24th. Numis Securities lowered shares of The Sage Group to a “hold” rating and set a GBX 855 ($12.24) price target on the stock. in a research report on Thursday, January 25th. Bryan, Garnier & Co dropped their price target on shares of The Sage Group from GBX 860 ($12.31) to GBX 850 ($12.17) and set a “buy” rating on the stock in a research report on Thursday, January 25th. Finally, Credit Suisse Group reissued a “neutral” rating and issued a GBX 790 ($11.31) price target on shares of The Sage Group in a research report on Friday, January 26th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of GBX 750 ($10.74).

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Shares of LON:SGE traded up GBX 11.20 ($0.16) during trading on Tuesday, reaching GBX 609.60 ($8.73). The stock had a trading volume of 4,535,722 shares, compared to its average volume of 3,690,000. The Sage Group has a 52 week low of GBX 613 ($8.78) and a 52 week high of GBX 825.20 ($11.82).

In other news, insider Steve Hare sold 88,880 shares of the firm’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of GBX 759 ($10.87), for a total value of £674,599.20 ($965,920.96).

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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.

Analyst Recommendations for The Sage Group (LON:SGE)

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