The Sage Group (LON:SGE) to Repurchase 0 Outstanding Stock

The Sage Group (LON:SGE) declared that its board has initiated a stock buyback program on Thursday, May 15th, RTT News reports. The company plans to repurchase 0 outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

The Sage Group Price Performance

Shares of SGE opened at GBX 1,230.56 ($16.38) on Friday. The firm has a market capitalization of £12.18 billion, a PE ratio of 47.83, a price-to-earnings-growth ratio of 1.22 and a beta of 0.53. The company has a debt-to-equity ratio of 114.00, a current ratio of 0.76 and a quick ratio of 0.58. The Sage Group has a 1-year low of GBX 954.20 ($12.70) and a 1-year high of GBX 1,349 ($17.95). The company’s fifty day moving average price is GBX 1,199.54 and its 200-day moving average price is GBX 1,233.48.

The Sage Group (LON:SGE) last announced its quarterly earnings data on Thursday, May 15th. The company reported GBX 20.80 ($0.28) earnings per share for the quarter. The Sage Group had a net margin of 11.87% and a return on equity of 24.48%. On average, equities research analysts predict that The Sage Group will post 42.1496095 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on SGE shares. Canaccord Genuity Group reaffirmed a “sell” rating and issued a GBX 1,090 ($14.51) price target 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 report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of GBX 3,446.67 ($45.87).

About The Sage Group

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.