The Sage Group (LON:SGE) Shares Up 14.3% – Here’s What Happened

The Sage Group plc (LON:SGE)’s stock price shot up 14.3% during trading on Wednesday . The company traded as high as GBX 1,320 ($16.75) and last traded at GBX 1,231.45 ($15.63). 141,714,766 shares changed hands during mid-day trading, an increase of 2,699% from the average session volume of 5,063,677 shares. The stock had previously closed at GBX 1,077 ($13.67).

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. decreased their target price on shares of The Sage Group from GBX 1,300 ($16.50) to GBX 1,250 ($15.86) and set an “overweight” rating for the company in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 1,173 ($14.89).

The Sage Group Stock Performance

The stock has a fifty day moving average price of GBX 1,018.27 and a 200 day moving average price of GBX 1,049.92. The company has a current ratio of 0.72, a quick ratio of 0.58 and a debt-to-equity ratio of 115.72. The firm has a market cap of £12.67 billion, a price-to-earnings ratio of 4,169.23, a price-to-earnings-growth ratio of 1.22 and a beta of 0.53.

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.