The Sage Group (LON:SGE) Trading 14.3% Higher Following Dividend Announcement

The Sage Group plc (LON:SGE)’s share price traded up 14.3% on Wednesday following a dividend announcement from the company. The company traded as high as GBX 1,320 ($16.62) and last traded at GBX 1,231.45 ($15.50). 141,714,766 shares traded hands during 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 ($13.56).

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

Wall Street Analysts Forecast Growth

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

The Sage Group Price Performance

The firm has a market capitalization of £12.68 billion, a price-to-earnings ratio of 4,907.69, a price-to-earnings-growth ratio of 1.22 and a beta of 0.53. The company has a quick ratio of 0.58, a current ratio of 0.72 and a debt-to-equity ratio of 115.72. The company’s fifty day moving average is GBX 1,023.78 and its two-hundred day moving average is GBX 1,051.45.

The Sage Group Company Profile

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.