Allspring Global Investments Holdings LLC Raises Stock Position in SAP SE (NYSE:SAP)

Allspring Global Investments Holdings LLC grew its position in SAP SE (NYSE:SAP - Free Report) by 13.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,549 shares of the software maker's stock after acquiring an additional 7,394 shares during the period. Allspring Global Investments Holdings LLC's holdings in SAP were worth $16,639,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bartlett & CO. Wealth Management LLC grew its stake in SAP by 585.7% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 96 shares of the software maker's stock valued at $26,000 after acquiring an additional 82 shares during the period. Rakuten Securities Inc. increased its stake in shares of SAP by 2,700.0% during the fourth quarter. Rakuten Securities Inc. now owns 112 shares of the software maker's stock worth $28,000 after purchasing an additional 108 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in SAP by 153.5% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 109 shares of the software maker's stock worth $29,000 after buying an additional 66 shares during the last quarter. Founders Capital Management increased its stake in SAP by 133.9% during the 1st quarter. Founders Capital Management now owns 131 shares of the software maker's stock worth $35,000 after buying an additional 75 shares in the last quarter. Finally, Highline Wealth Partners LLC lifted its position in shares of SAP by 126.2% in the first quarter. Highline Wealth Partners LLC now owns 138 shares of the software maker's stock valued at $37,000 after acquiring an additional 77 shares in the last quarter.

SAP Trading Up 1.5%

Shares of NYSE SAP traded up $4.60 during mid-day trading on Thursday, reaching $302.76. 858,048 shares of the company's stock were exchanged, compared to its average volume of 1,078,443. The firm has a market capitalization of $371.94 billion, a price-to-earnings ratio of 58.00, a PEG ratio of 4.27 and a beta of 1.30. SAP SE has a 52-week low of $194.93 and a 52-week high of $311.40. The company's 50-day moving average is $296.54 and its 200-day moving average is $276.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.17 and a current ratio of 1.17.

SAP (NYSE:SAP - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The software maker reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.12. The business had revenue of $10.35 billion during the quarter, compared to analysts' expectations of $9.08 billion. SAP had a net margin of 16.33% and a return on equity of 13.66%. Analysts expect that SAP SE will post 6.55 EPS for the current fiscal year.

SAP Increases Dividend

The company also recently declared an annual dividend, which was paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th were paid a dividend of $2.5423 per share. This represents a yield of 0.8%. This is a boost from SAP's previous annual dividend of $2.39. The ex-dividend date was Tuesday, May 13th. SAP's dividend payout ratio is 35.25%.

Analyst Upgrades and Downgrades

SAP has been the subject of several recent research reports. BMO Capital Markets increased their price objective on SAP from $320.00 to $330.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. Argus reiterated a "buy" rating and issued a $320.00 target price on shares of SAP in a research report on Tuesday, April 29th. UBS Group upgraded shares of SAP to a "strong-buy" rating in a research report on Friday, May 30th. Wells Fargo & Company assumed coverage on shares of SAP in a report on Tuesday, May 20th. They issued an "overweight" rating for the company. Finally, Wall Street Zen raised shares of SAP from a "hold" rating to a "buy" rating in a research note on Sunday. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, SAP currently has a consensus rating of "Buy" and an average target price of $271.83.

SAP Company Profile

SAP SE, together with its subsidiaries, provides applications, technology, and services worldwide. It offers SAP S/4HANA that provides software capabilities for finance, risk and project management, procurement, manufacturing, supply chain and asset management, and research and development; SAP SuccessFactors solutions for human resources, including HR and payroll, talent and employee experience management, and people and workforce analytics; and spend management solutions that covers direct and indirect spend, travel and expense, and external workforce management.