16,470 Shares in SAP SE $SAP Purchased by Monte Financial Group LLC

Key Points

• Monte Financial Group opened a new SAP position in the third quarter, buying 16,470 shares valued at about $3.43 million. Several other institutional investors also increased their holdings.
• Analyst sentiment is broadly positive: SAP has a consensus “Moderate Buy” rating and an average price target of $258.83, with recent target increases from Barclays and BMO Capital Markets.
• SAP shares opened at $243.47; the stock’s 12-month trading range is $144.97 to $258.50.

Monte Financial Group LLC acquired a new stake in SAP SE (NYSE:SAP - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 16,470 shares of the software maker's stock, valued at approximately $3,434,000.

Other institutional investors have also modified their holdings of the company. Kestra Advisory Services LLC boosted its stake in SAP by 30.9% during the third quarter. Kestra Advisory Services LLC now owns 7,286 shares of the software maker's stock worth $1,519,000 after buying an additional 1,721 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of SAP by 7.8% in the third quarter. Commonwealth Equity Services LLC now owns 15,429 shares of the software maker's stock valued at $3,217,000 after acquiring an additional 1,118 shares during the period. Kestra Private Wealth Services LLC raised its stake in shares of SAP by 7.3% in the third quarter. Kestra Private Wealth Services LLC now owns 8,483 shares of the software maker's stock valued at $1,769,000 after acquiring an additional 579 shares during the period. Ascent Group LLC raised its stake in shares of SAP by 23.1% in the third quarter. Ascent Group LLC now owns 3,738 shares of the software maker's stock valued at $779,000 after acquiring an additional 701 shares during the period. Finally, JCIC Asset Management Inc. lifted its holdings in shares of SAP by 2.7% in the 3rd quarter. JCIC Asset Management Inc. now owns 16,824 shares of the software maker's stock worth $3,507,000 after acquiring an additional 446 shares during the last quarter.

Analysts Set New Price Targets

SAP has been the subject of a number of recent analyst reports. Jefferies Financial Group reaffirmed a "buy" rating on shares of SAP in a research note on Thursday, October 22nd. Erste Group Bank raised shares of SAP from a "hold" rating to a "buy" rating in a research report on Friday, October 30th. Barclays raised their price objective on shares of SAP from $243.00 to $288.00 and gave the stock an "overweight" rating in a research note on Friday, October 23rd. BMO Capital Markets boosted their target price on SAP from $235.00 to $265.00 and gave the company an "outperform" rating in a research report on Thursday, October 22nd. Finally, Wells Fargo & Company restated an "overweight" rating on shares of SAP in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $258.83.

SAP Stock Performance

SAP stock opened at $243.47 on Friday. SAP SE has a twelve month low of $144.97 and a twelve month high of $258.50. The firm has a market cap of $299.10 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 2.90 and a beta of 1.11. The business's fifty day simple moving average is $219.57 and its two-hundred day simple moving average is $192.40. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.18.

About SAP

SAP SE is a global enterprise software company headquartered in Walldorf, Germany. Founded in 1972 by five former IBM employees, SAP originally developed software to help businesses integrate accounting and operational data. The company has since become a major provider of cloud-based business applications and enterprise technology.

SAP's portfolio includes enterprise resource planning software, including SAP S/4HANA Cloud, along with solutions for finance, procurement, supply chain management, human resources, customer experience and business analytics.

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