The Sage Group (LON:SGE) Stock Price Up 14.3% Following Dividend Announcement

Shares of The Sage Group plc (LON:SGE) were up 14.3% during trading on Wednesday following a dividend announcement from the company. The stock traded as high as GBX 1,320 ($16.62) and last traded at GBX 1,231.45 ($15.50). Approximately 141,714,766 shares changed hands during mid-day trading, an increase of 2,699% from the average daily volume of 5,063,677 shares. The stock had previously closed at GBX 1,077 ($13.56).

The newly announced dividend which will be paid on Tuesday, February 11th. Stockholders of record on Thursday, January 9th will be given a GBX 13.50 ($0.17) dividend. The ex-dividend date is Thursday, January 9th. This is a positive change from The Sage Group’s previous dividend of $6.95. This represents a dividend yield of 1.25%. The Sage Group’s dividend payout ratio is presently 7,692.31%.

Analysts Set New Price Targets

SGE has been the subject of a number of recent research reports. Citigroup boosted their target price on shares of The Sage Group from £135 ($169.96) to £145 ($182.55) and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. dropped their target price on shares of The Sage Group from GBX 1,300 ($16.37) to GBX 1,250 ($15.74) and set an “overweight” rating for the company in a report on Wednesday, July 31st. Finally, Canaccord Genuity Group boosted their price objective on The Sage Group from GBX 970 ($12.21) to GBX 1,090 ($13.72) and gave the stock a “sell” rating in a research report on Friday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of GBX 3,908 ($49.20).

The Sage Group Stock Performance

The stock has a market capitalization of £12.68 billion, a price-to-earnings ratio of 4,907.69, a P/E/G ratio of 1.22 and a beta of 0.53. The company has a debt-to-equity ratio of 115.72, a quick ratio of 0.58 and a current ratio of 0.72. The stock has a fifty day simple moving average of GBX 1,023.78 and a two-hundred day simple moving average of GBX 1,051.45.

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.