The Sage Group (LON:SGE) was downgraded by equities researchers at JPMorgan Chase to a “neutral” rating in a report released on Tuesday. They presently have a GBX 670 ($9.59) target price on the stock, down from their previous target price of GBX 830 ($11.88). JPMorgan Chase’s price target would indicate a potential upside of 6.55% from the company’s previous close.
Other equities analysts also recently issued reports about the stock. Citigroup reiterated a “buy” rating and issued a GBX 750 ($10.74) target price (down from GBX 780 ($11.17)) on shares of The Sage Group in a report on Monday. Deutsche Bank restated a “hold” rating and set a GBX 740 ($10.60) price objective on shares of The Sage Group in a report on Thursday, January 25th. Canaccord Genuity cut their price objective on shares of The Sage Group from GBX 636 ($9.11) to GBX 540 ($7.73) and set a “sell” rating on the stock in a report on Tuesday. Numis Securities downgraded shares of The Sage Group to a “hold” rating and set a GBX 855 ($12.24) price objective on the stock. in a report on Thursday, January 25th. Finally, Shore Capital restated a “buy” rating on shares of The Sage Group in a report on Wednesday, March 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The Sage Group has an average rating of “Hold” and an average target price of GBX 750 ($10.74).
Shares of The Sage Group stock opened at GBX 628.80 ($9.00) on Tuesday. The Sage Group has a one year low of GBX 613 ($8.78) and a one year high of GBX 825.20 ($11.82).
In other news, insider Steve Hare sold 88,880 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of GBX 759 ($10.87), for a total transaction of £674,599.20 ($965,920.96).
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The Sage Group Company Profile
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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