Should I buy Sage Group shares for my UK tech portfolio?
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Sage Group(LSE: SGE) shares fell 20% in the past year. However, the company’s shares rose 5% on January 21
st after it released its first-quarter fiscal year 2021 trading update.
Sage Group shares’ recent trading update
Sage Group’s revenue grew by 1.4% year-on-year to £447m. It was primarily helped by the 4.7% growth in recurring revenue to £408m. Other revenue fell 24% to £39m. In my view, recurring revenue is one of the important metrics while evaluating a tech company, since recurring revenue is the portion of its revenues that is expected to continue in the future.
Sage Group reports further revenue growth, Ibstock says it will beat expectations, 4imprint’s recovery gains momentum, and Pets at Home continues to benefit from being an essential retailer.