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  6. Sage Group Plc (SGE)

  7. Sage Group Plc (SGE) Share Price

SGE

Sage Group Plc

859.60
-7.20 (-0.83%)
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Share Name Share Symbol Market Type Share ISIN Share Description
Sage Group Plc LSE:SGE London Ordinary Share GB00B8C3BL03 ORD 1 4/77P
  Price Change % Change Share Price Shares Traded Last Trade
Upgrade Icon
  -7.20 -0.83% 859.60 1,603,345 16:35:04
Bid Price Offer Price High Price Low Price Open Price
856.80 857.40 872.20 856.20 872.20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Prepackaged Software 1,947.00 260.00 23.60 36.38 9,462.38
Last Trade Time Trade Type Trade Size Trade Price Currency
17:54:17 O 61 859.647 GBX
Related Shares
Ig (IGG), Computacenter (CCC), Osirium Technologies (OSI), Actual Experience (ACT)

Sage (SGE) Latest News

Sage News

Date Time Source Headline
06/6/202312:02UKREGSage Group PLC Block listing Interim Review
31/5/202316:55UKREGSage Group PLC Holding(s) in Company
31/5/202316:50UKREGSage Group PLC Total Voting Rights
30/5/202310:10UKREGSage Group PLC Director/PDMR Shareholding
19/5/202316:58UKREGSage Group PLC Director/PDMR Shareholding
19/5/202316:45UKREGSage Group PLC Holding(s) in Company
17/5/202309:25ALNCNewsTOP NEWS: Sage first half revenue rises; ups interim dividend
17/5/202307:00UKREGSage Group PLC Results for the six months to 31 March 2023
28/4/202315:30UKREGSage Group PLC Total Voting Rights
31/3/202315:16ALNCNewsIN BRIEF: Sage chief product officer buys 20,000 shares

Sage (SGE) Discussions and Chat

Sage Forums and Chat

Date Time Title Posts
06/6/202323:13Sage Group PLC in 2023 - high risk or undervalued?22
18/5/202300:07CAN SAGE make it to 225p - a superb stock3,844
10/5/201321:05SAGE: CHARTS, NEWS ETC.16
13/3/200908:30zxczx-
14/4/200415:04100p -- Only debate now is when680

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Sage (SGE) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-06-09 16:54:18859.6561524.38O
2023-06-09 16:53:25859.843983,422.17O
2023-06-09 16:53:25859.5730,972266,225.40O
2023-06-09 16:50:44859.6040343.84O
2023-06-09 16:35:28857.283613,094.77O

Sage (SGE) Top Chat Posts

Top Posts
Posted at 01/6/2023 07:27 by nhb001
Hello Maddox. This is true and nice to see but I suspect we may retrace a little from here. Today Sage goes ex-dividend and the price action recently has been a spike before and a retrace afterwards. I would be happy to be proved wrong though!
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Posted at 19/5/2023 14:37 by maddox
Hi Justiceforthemany,

All good points - but Sage has a highly resilient business model that can support the debt which is only 1.3x EBITDA and has respectable Piotroski F-Score of 6 and Altman Z2-Score of 4.5. So, pretty typical and not of much concern.

Accounting software isn't a discretionary purchase for most businesses. Once, you've purchased it - got all your figures into it - you're unlikely to switch. Closure, bankruptcy and liquidation is the greater risk for losing a customer - and little sign of this in the last SGE results: Renewal by value at 101% and £190m of the £222m increase in ARR came from new customers.

Talking of trends - as I post, we're breaking to new highs, and hopefully breaking out from the sideways tunnelling.

Regards Maddox
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Posted at 18/5/2023 20:35 by maddox
Opps, sorry Amigos posted this on the wrong thread - reposting for continuity.

Very strong 1H23 results today (17 May 23) as the underlying Business Cloud growth breaks through to dictate the top-line results. Highlights:

>> +12% Organic Annualised Recurring Revenue (ARR);

>> Operating margin increasing by 60 basis points to 20.8%;

>> Cash conversion 117%; and

>> 101% Renewal by value.

The star of the show is Sage Intacct which is growing at 30% in the highly competitive US market - and now rolling-out in other geographies. This product is clearly winning new customer acquisition. The widening Op Margin is really good news - and this is expected to continues as SGE focus on growing revenue faster than costs. This will magnify the growth at the bottom-line profit/ eps level translated from the the top-line growth.

No sign of macro economic or competitive factors impacting progress with 101% renewal by value - with some sub-inflation price increases included. The overall goal for SGE is to deliver 'consistent double-digit growth' with a target of 11% for full FY23.
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Posted at 18/5/2023 00:07 by maddox
Hi justiceforthemany,

Nop not cheap. If your looking for cheap - SGE is never 'cheap'.

However, that doesn't make SGE a bad investment - if growth accelerates and its margins widen, as appears to be occurring, then it might be very good value at 842.8p (up 21.8p 2.66% today from 821p).

My assessment is that SGE's painful transition is largely complete and they'll deliver the promised sustained double digit growth, that with widening margins, will propel the earnings per share forward and will throw off cash. If this occurs 842p will look cheap looking back and deserving of its premium rating.

Looking forward to see how the next few results go - that should confirm the growth trajectory or not.
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Posted at 17/5/2023 09:25 by maddox
Very strong 1H23 results today as the underlying Business Cloud growth breaks through to dictate the top-line results. Highlights:

>> +12% Organic Annualised Recurring Revenue (ARR);

>> Operating margin increasing by 60 basis points to 20.8%;

>> Cash conversion 117%; and

>> 101% Renewal by value.

The star of the show is Sage Intacct which is growing at 30% in the highly competitive US market - and now rolling-out in other geographies. This product is clearly winning new customer acquisition. The widening Op Margin is really good news - and this is expected to continues as SGE focus on growing revenue faster than costs. This will magnify the growth at the bottom-line profit/ eps level translated from the the top-line growth.

No sign of macro economic or competitive factors impacting progress with 101% renewal by value - with some sub-inflation price increases included. The overall goal for SGE is to deliver 'consistent double-digit growth' with a target of 11% for full FY23.
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Posted at 21/4/2023 14:59 by maddox
I'm a big fan of Terry Smith - he's an exceptionally smart investor. He took advantage of SGE's share buy-back programme to exit his position - which was a bit of an invitation to sell - considering they already had SGE under review. Nevertheless, he appears to have sold at prices below 650p (RNS 17Jan21 share price c.560p below 5% - May 2021) so at a pretty low point. At the time he did say that he felt INTU was the better firm in the sector.

Perhaps he'll have another look at the new-look SGE before he has to overpay? (Don't overpay is his second rule for investment)
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Posted at 19/4/2023 07:48 by maddox
Much talk about the valuation anomaly between US and UK.

Looking at a side-by-side of SGE 797p versus Intuit Inc (Quick Books) $442.59. In the UK SGE is considered highly valued on a p/e of 25 whereas Intuit is on an eye-watering p/e 64. Similarly, SGE is priced at 4.15x revenue versus 9x for Intuit.

If SGE was valued on INTU's p/e the share price would be 2040p or 1800p on INTU's revenue multiple.

I note that Terry Smith's Fundsmith has sold-out of INTU - he disapproves of their accounting treatment of Share-based remuneration and thinks that they have overpaid for Mailchimp. Intuit paid 12x revenue!

So, UK 'highly valued' firms look extremely cheap from a US perspective.
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Posted at 17/4/2023 13:37 by maddox
Reading the runes - a few indications that SGE's business transformation is largely complete. The presentation of accounts has been revamped to give 'greater emphasis to underlying revenue and profit measures'. Accompanying this, the cloud-based SaaS firm supporting small and mid-sized company's digitisation needs has had a face-lift with a jazzy new branding, sports sponsorships and a load more awareness building advertising.

Then looking at the rns history there has been some chunky insider share purchases indicating internal confidence in the outlook.

My crystal ball is telling me to expect an up-beat set of results and outlook.
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Posted at 19/1/2023 16:47 by maddox
Yes the 1Q23 Trading Update is worth listening to - the update text is backward looking whereas the verbal commentary and questions are always with a view to the future. The answers to the Analyst questions in particular often adds some significant colour.

Against the current dismal economic background SGE is looking strong for 2023. They are not seeing any macro-economic impact on their business:

>> Expect organic growth to accelerate on 2022;

>> Margins will also grow in 2023 and onwards;

>> The 4-5% price increases in 2022 were well accepted and expect further 4-5% price increases in 2023; and

>> Feeling very comfortable with the market consensus expectations.

High points - Sage Intacct growing at 30%+ in the US. It has been enthusiastically received by the SGE Partner Network in UK and is now being rolled-out in Europe. Hopeful that Europe will overtime reach the growth rate being achieved in the US. This driver together with the fact that 40% of revenue is coming from the North America and the product set is essentially mission critical/non-discretionary spend for their customers underpins their 2023 guidance.

Regards Maddox

Post script: Market reaction to the good news SGE down 22.6p (2.9%) to 753.2p at close.
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Posted at 31/12/2022 23:58 by richard3rd
Up to about 5 years ago the share price was making good progress, more than doubled between 2012 and 2017, but since then its only increased by about 16% despite acquisitions and reported increases in recurring revenue.

There have been moans in other online publications and forums about heavy handed sales methods and I noticed Friday that the same story has now made it to the FT (Google "ft.com sage" - article is titled "Sage accused of 'strong arm' tactics over move to software subscriptions).

Comments from some in response to the FT article Friday are now advocating class action against Sage for switching off old product that customers claim they were still licensed to use.

What do people think of SGE now for short to medium term gain? Too high risk or serious upside potential if their sales methods pay off?

Is the lack of gain in the past 5 years stored potential waiting to break out or are there bigger problems holding it back?
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