7,219 Shares in SAP SE $SAP Bought by Asset Management One Co. Ltd.

Key Points

• Asset Management One Co. Ltd. bought 7,219 SAP shares worth approximately $1.5 million in the third quarter, joining several institutional investors that increased or initiated positions.
• Analysts remain broadly positive on SAP, with an overall “Moderate Buy” rating and an average price target of $258.83; BMO Capital Markets raised its target to $265.
• SAP shares opened at $233.46, while the company reported a $286.81 billion market capitalization and traded below its 52-week high of $265.88.

Asset Management One Co. Ltd. purchased a new stake in SAP SE (NYSE:SAP - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,219 shares of the software maker's stock, valued at approximately $1,505,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SAP. Bank of America Corp DE boosted its stake in SAP by 15.9% during the first quarter. Bank of America Corp DE now owns 2,018,383 shares of the software maker's stock worth $345,567,000 after buying an additional 276,263 shares during the last quarter. Tidal Investments LLC grew its holdings in SAP by 18.5% in the 2nd quarter. Tidal Investments LLC now owns 1,214,315 shares of the software maker's stock valued at $187,138,000 after buying an additional 189,591 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of SAP in the 1st quarter worth $150,701,000. Ruane Cunniff & Goldfarb L.P. increased its stake in shares of SAP by 1,532.8% in the 1st quarter. Ruane Cunniff & Goldfarb L.P. now owns 749,909 shares of the software maker's stock worth $128,392,000 after acquiring an additional 703,982 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of SAP by 48.2% during the 1st quarter. Principal Financial Group Inc. now owns 550,531 shares of the software maker's stock worth $94,257,000 after acquiring an additional 179,040 shares during the period.

Analyst Ratings Changes

SAP has been the subject of a number of analyst reports. Argus set a $265.00 price objective on shares of SAP in a report on Thursday, September 10th. BMO Capital Markets lifted their target price on shares of SAP from $235.00 to $265.00 and gave the stock an "outperform" rating in a research note on Thursday, October 22nd. Citigroup reaffirmed a "buy" rating on shares of SAP in a research note on Friday, October 23rd. TD Cowen reiterated a "buy" rating on shares of SAP in a report on Thursday, October 15th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of SAP in a research note on Thursday, October 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $258.83.

SAP Trading Down 0.7%

NYSE SAP opened at $233.46 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.16. The firm has a market cap of $286.81 billion, a price-to-earnings ratio of 28.51, a PEG ratio of 2.86 and a beta of 1.13. The firm has a 50 day simple moving average of $218.23 and a 200-day simple moving average of $192.37. SAP SE has a one year low of $144.97 and a one year high of $265.88.

SAP Profile

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.

Want to see what other hedge funds are holding SAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SAP SE (NYSE:SAP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.