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Been on phone all morning to find extent of damage
Not good news for the share price!
But I get the impression this was no more than a hacker getting into the payroll system.
Sage discovered the issue, set security on the case, admitted to Authorities the problem and are hopefully sorting it out.
So you know the wages of some Companies Employees - this will soon become public knowledge anyway.
I admit this should not happen,- ie force changes of Userid's, Passwords ...
Dear Mr Sage,
Why don't you link door passes (In/Out) to people who are expected to be in the office and deny system access to people that should not be there. Insist they remain signed on all the time they are in the office, and deny they can be signed on on 2 different desktops.
One place I worked at required you show an id card to the doorman (who knew everyone!) He was required to refuse entry to anyone without the right card. There was a fire practice and the only person denied access was the Director of IT, who left his card in his illustrious Office!
I have loads more ideas but as a Security Consultant I need a salary of £200,000 pa.
Anyway I hope this is no more than a storm in a tea cup.
At 740 I am 98.5% up, but can't sell cos of arm.
I would love to buy more sge but with a Per of 28 and Peg of 2.71, I think I've missed the boat.
Just looked at sge graph again and they are flying, but that started in mid June, normally I quiet time.
In a funny way I hope the price goes down, so when I get arm money I will be happy to go for sge.
Anyway, looks like I'm talking and arguing with myself now!
Is there anybody out there?
And sp down by 1.5p
I know Nothing!
After those 5 another 4 of £ 182 K
Tot £ 1.242 M
This Uk last sw/tec stock in Ftse 100 and I just hope it is not a takeover.
Powering ahead. 5 of > £ 1 M.
What price tomorrow morning?
Dilemma getting pleasanter.
Don't know why the price is so high.
At 716 Per = 27.0, Peg = 2.63 - both numbers unnaturally High. Takeover?
I'm 92% up and would be seriously tempted to sell if it wasn't for arm sale.
Already stuck with Cgt Bill - don't want to increase it!
Another jump in the sp today up 15p to 716p as I post.
I'm wondering whether this is market reaction to the Sage Summit in Chicago. It seems that CEO Stephen Kelly has made a step-change in the pace of product innovation and is making a good job show-casing them in Chicago. That, together with the new partnerships and market positioning of Sage 'championing entrepreneurs' is starting to change perceptions. I like the bold ambition of Stephen Kelly and, whilst it's still early days, I think it'll come through in the numbers.
If you have seen anything else that might be driving this sp rise - please post it up.
nine months ended 30 June 2016.
Group organic revenue increased by 6.0% in the third quarter, delivering growth of 6.1% for the first nine months of the year.
Organic recurring revenue grew by 10.1% for the year to date, continuing the momentum established in the first half of the year, supported by software subscription revenue which grew by 33.2% over the same period. Organic software and software related services (SSRS) revenue continued the trend of the first half with new upfront licence revenues declining as the planned transition to subscription relationships progressed. Processing revenue growth was in line with expectations, with payroll continuing to be stronger than payments.
Regionally, the Group's performance was driven by continued momentum in Europe and North America, supported by an improved performance from the International region in the third quarter.
Management remains confident of meeting FY16 full year guidance: delivering at least 6% organic revenue growth and 27% organic operating margin.
That I mentioned in a prev post is accelerating. I was talking of selling and buying back in Oct, when I should have been buying! At least I didn't sell any.
Looks like a good place to dump some of my Arm shares whenever they are bought out.
Btw It was mentioned (can't remember where) that Arm was Uk's last Ftse100 Sw/Tech stock.
What about Sge? Mrkt Cap now � 7,464 M.
Maddox reckoned 675 by Finals (Early Dec-16), myself 688, but 693 Now!
ie Just how far will they go? Per/Peg high but that is cos the City like what they see.
Sge is a coy for my pension - ie Long Term - currently 86% up.
Bol - Trend says Buy, Per/Peg say Sell - who knows?
Sage was the most searched company across the Bloomberg platform yesterday. According to a Panmure note I read on Research Tree this morning it could be driven by perceptions of a positive read across to the solid Micro Focus results...
Here's the outlook statement from Stephen Kelly at the Interims:
"Sage continues to perform and transform. We made a good start to FY16 with double digit recurring revenue growth as validation that customers are embracing closer subscription relationships. High quality organic revenue growth continued to accelerate H1 over H1. We remain confident in achieving our full year targets of at least 6% organic revenue growth and organic operating margin of 27%."
Still like this stock as it continues to expand cloud offering to fight back against xero et al...
What do you guys think?
I have replied to bovered thread cos the Brokers should have all the numbers and yet cannot make any sense out of them, or as I said they have their own agenda.
Congrats for an excellent analysis of First Half Results.
Your estimate of 675 by Dec 16 when price was 593 (15/05/16) looked a bit optimistic. Price now 645, so looks quite possible.
For all my Watch coys, I have a WS of YEnd to YEnd on which I plot the weekly prices for the last 5 years and critical date Labels, hyperlinking to RNS's, (the last not done for sge yet). This gives an idea of trends.
From this it looks like there is a quiet time from about 20/05/16 to 02/10/16 (PreFinal ManStat) when the sp jumps as Final Results approach - so I thought about selling some now and buying them back (or more?) in October.
However, as you say making future predictions is uncertain. The recent surge from 581 (06/05/16) to 645 (12/07/16), does not fit with the past trends.
That is because the structure of the business has changed, from selling software (and charging a little maintenance), to renting and running it from the cloud. This trend started 02/10/14 (PreFin ManStat, Sep-14) and is ongoing.
So I won’t sell any sge until the price steadies. Fwiw my guesstimate is 688 after Finals (around 02/12/16).
Having posted my question I see it's back to
Bid: 613.50 Ask: 614.00
both sets of figures cut n pasted!
Bid: 643.50 Ask: 584.00.
Pardon my naivety but anyone explain why this is so wide right now?
Apologies for board hopping but-
The petition is going quite well; ~5150 signatures so far. Although it really needs a turbo boost.
This petition was stalled in parliament since 12th Aug 15; finally green lit on 12th feb 2016.
The FCA don't even reply on the matter, now is your chance to have your say.
If you hate seeing buys reported as sells etc!!!!!!
Has already been sent to Martin Lewis, Daily Mail, Moneyweek & Watchdog.
My local MP supported this petition by writing to the petitions committee to help un-stall it.
There’s 650 MP’s in Westminster, So have you written to your MP? 649 to go!
If this petition doesn’t reach 10,000; then imo we might as well have not bothered as it will almost certainly be filed B1N; @ 10,000 the government should respond. We are currently getting approx. 100 new signatures a week, but need 3x that amount to reach the target with only 15 weeks to go.
So – If you haven’t yet signed or indeed have but haven’t passed it on to others, then now’s the time to do so. If each person who has signed can get just one other person to sign then we will double the total immediately. I have posted to all aim listed gas n oilies, currently doing the footsy 100. But I can only do so much to push this. Really need you guys & gals to help. Thanks to all who have signed so far.
Well maths ain't got much to do with it - we're talking predictions of the future and that is obviously inherently uncertain. So FWIW just run my own numbers (assumptions) and my sp target from now until 31 Dec 2016 is 675p.
First Half Results - the highlights: Operating performance
‒ Improved organic revenue growth to 6.2% (H1 2015: 5.0%), achieving double digit recurring revenue growth of 10.0% (H1 2015: 8.1%);
‒ Accelerated software subscription growth to 35.3% (H1 2015: 25.4%) in line with planned transition and corresponding decline in SSRS revenue of 6.3% (H1 2015: -2.0%);
‒ Customers embracing closer relationships with a 50% increase in subscription contracts to 842,000 (H1 2015: 561,000);
‒ Strong results in Europe, North America and Africa were balanced by a slower performance in Asia, which benefited from non-repeating revenues in the prior period.
- An 8% increase of the interim dividend to 4.80p.
- Underlying cash conversion of 111%.
So the 22p drop in the share price is surprising and I presume in response to the fall in margins from 28.2% (full-year 2015) to 25.4%. However, this fall was flagged and due to an increase in marketing spend. The full-year target of 27% operating margin remains in place and the CEO and MD repeatedly stated that they are confident of hitting it and 6% revenue growth.
So IMHO little to be concerned about, in fact there was much to be optimistic about in these results. The transformation of Sage appears to be working albeit it's too early to be evident in the top-line figures. Growth in new product sales (all priced on a SAAS model)look very encouraging but primarily customer conversions rather than new customer wins thus far.
Also, this decisive transformation is causing some collateral damage with office closures and a shedding of staff in non-strategic areas. Seventy of the top one hundred staff have changed with thirty new recruits to execute the new strategy.
So with Mr Market taking a different view to my own I'm tempted to pick up a few more.
Hi volcano and Maddox,
I could look up USB and Jeffries, Estimates from 490 to 710 ie difference almost 100%.
They have their own agendas. Managers publish whatever they like! I studied Maths a bit to University level (though just 1 subject of 6 in 1st year computing).
If in Maths your answer was out by a factor of 10 % our teacher would say good enough for an engineer but its incorrect!
To put it another way, if the difference out by > 10% makes me consider their integrity and their agenda? So not even worth watching or reporting!
As a Maths guy it could be a good idea to watch who are totally wrong and who is correct. Trouble is you don't know the agenda. Too much work and I can't be bovered!
Sage is a great Company. Changed direction twice in recent years, from acquisitions (not very successfully) to a rental system of their software on the Cloud (as opposed to buying) very successfully, which it's managed extremely well (as opposed to Sap who tried to do the same thing).
This is a pension fund coy for me - steady away, high margin and a growing monopoly of Sme enterprises accounting software throughout the world.
I've had shares in this Coy since 1996 - since Jan-14 they are outperforming my best bldg stock bwy, but watch arm later today.
Must stop doing this - far too late!
they were wrong then and they wrong now.best company .
USB reiterates sell recommendation and 490p sp target.
Jefferies Group reiterate their BUY recommendation and up their share price target to 710p from 670p.
At last we see an upgrade ....
Sage Group The PLC (LON:SGE) was upgraded by JP Morgan Cazenove to Overweight rating in an analyst note issued to clients and investors on Friday, 4 December. The firm after the upgrade has GBX 670.00 target on the stock. JP Morgan Cazenove’s target is 18.48% from SGE’s last price.
This is what I've been expecting
Good spot. Very much like the Thomson Reuters clip from CNBC: Stephen Kelly is a very good communicator - comes across very well.
I like this theme that Sage are looking to service the SME businesses that are the 'heros of the economy' driving economic growth and creating employment!
Powerful market positioning towards what is a huge Global market offering their new Smartphone optimised cloud-based accounting services.
<b>The Sage Group plc (SGE) to Issue Dividend of GBX 8.65
December 2nd, 2015 • 0 comments • Filed Under • by ABMN Staff</b>
The Sage Group plc logoThe Sage Group plc (LON:SGE) declared a dividend on Wednesday, December 2nd, Market Beat.com reports. Shareholders of record on Thursday, February 11th will be given a dividend of GBX 8.65 ($0.13) per share on Friday, March 4th. This represents a yield of 1.5%. The ex-dividend date is Thursday, February 11th. The official announcement can be accessed at this link.
The Sage Group plc (LON:SGE) traded up 0.09% on Wednesday, reaching GBX 577.00. The company’s stock had a trading volume of 7,365,081 shares. The stock’s 50 day moving average is GBX 547.01 and its 200-day moving average is GBX 531.82. The Sage Group plc has a 52 week low of GBX 363.39 and a 52 week high of GBX 587.50. The firm’s market capitalization is GBX 6.21 billion.
A number of research analysts have recently issued reports on SGE shares. Citigroup Inc. reaffirmed a “buy” rating and set a GBX 585 ($8.80) price objective on shares of The Sage Group plc in a report on Tuesday, August 11th. Panmure Gordon reiterated a “hold” rating and set a GBX 516 ($7.76) target price on shares of The Sage Group plc in a research report on Monday, September 28th. AlphaValue restated an “add” rating and issued a GBX 565 ($8.50) price objective on shares of The Sage Group plc in a research report on Thursday, August 6th. Bryan Garnier & Cie reiterated a “neutral” rating and issued a GBX 520 ($7.82) target price on shares of The Sage Group plc in a research note on Tuesday, October 6th. Finally, Numis Securities Ltd upped their price target on The Sage Group plc from GBX 563 ($8.47) to GBX 573 ($8.62) and gave the stock an “add” rating in a research note on Tuesday, October 6th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. The Sage Group plc has a consensus rating of “Hold” and a consensus target price of GBX 525.72 ($7.91).
The Sage Group plc is a United Kingdom-based company, which provides small and medium sized enterprises (LON:SGE) with a range of business management software and services, including accounting, human resource (HR) and payroll, enterprise resource planning (ERP), payments, customer relationship management (CRM), mobility and business intelligence. The Company operates through three segments: Europe, which includes operations in France, the United Kingdom and Ireland, Spain, Germany, Switzerland, Poland, Portugal and Sagepay; Americas, which includes the United States, Brazil and Canada, and AAMEA, which include Africa, Australia, Middle East and Asia. The Africa operations are based in South Africa and the Middle East, and its Asia operations are based in Singapore, Malaysia and the U