Ascent Group LLC Increases Position in SAP SE $SAP

Key Points

• Ascent Group LLC significantly increased its stake in SAP SE by 196.3%, bringing its total holdings to 4,175 shares valued at approximately $1.12 million.
• In terms of performance, SAP reported earnings per share (EPS) of $1.70 for the last quarter, surpassing estimates and reflecting an 8.9% year-over-year revenue growth to $10.58 billion.
• Analysts have shown positive sentiment towards SAP, with several firms issuing upgraded ratings and price targets, including BMO Capital Markets which raised its target from $320 to $330.

Ascent Group LLC boosted its holdings in SAP SE (NYSE:SAP - Free Report) by 196.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,175 shares of the software maker's stock after purchasing an additional 2,766 shares during the period. Ascent Group LLC's holdings in SAP were worth $1,121,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SAP. GAMMA Investing LLC increased its position in shares of SAP by 31,239.5% in the first quarter. GAMMA Investing LLC now owns 1,306,229 shares of the software maker's stock valued at $350,644,000 after acquiring an additional 1,302,061 shares during the period. Twin Tree Management LP increased its position in shares of SAP by 122.5% in the first quarter. Twin Tree Management LP now owns 51,632 shares of the software maker's stock valued at $13,860,000 after acquiring an additional 280,896 shares during the period. Main Street Research LLC purchased a new position in shares of SAP in the first quarter valued at about $32,151,000. Deutsche Bank AG increased its position in shares of SAP by 2,105.3% in the first quarter. Deutsche Bank AG now owns 105,260 shares of the software maker's stock valued at $28,256,000 after acquiring an additional 100,487 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of SAP by 6.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,318,908 shares of the software maker's stock valued at $354,048,000 after acquiring an additional 80,164 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SAP shares. Piper Sandler started coverage on shares of SAP in a research report on Tuesday, June 17th. They issued an "overweight" rating on the stock. UBS Group upgraded shares of SAP to a "strong-buy" rating in a research report on Friday, May 30th. JMP Securities boosted their price target on shares of SAP from $330.00 to $375.00 and gave the company a "market outperform" rating in a research report on Wednesday, July 23rd. BMO Capital Markets boosted their price target on shares of SAP from $320.00 to $330.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. Finally, Morgan Stanley reiterated an "overweight" rating on shares of SAP in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $281.67.

SAP Stock Down 0.4%

SAP traded down $1.09 during midday trading on Friday, reaching $257.10. The company's stock had a trading volume of 1,499,883 shares, compared to its average volume of 1,610,937. The firm has a market capitalization of $315.85 billion, a price-to-earnings ratio of 42.57, a PEG ratio of 3.70 and a beta of 1.29. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.15. SAP SE has a 1 year low of $217.51 and a 1 year high of $313.28. The stock's 50-day moving average is $284.11 and its 200-day moving average is $283.08.

SAP (NYSE:SAP - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.70 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.07. The business had revenue of $10.58 billion for the quarter, compared to analysts' expectations of $9.10 billion. SAP had a net margin of 18.26% and a return on equity of 14.84%. The business's revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.10 earnings per share. As a group, research analysts expect that SAP SE will post 6.55 EPS for the current year.

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.