Blueshift Asset Management LLC Purchases New Position in SAP SE (NYSE:SAP)

Key Points

• Blueshift Asset Management LLC has acquired 2,173 shares of SAP SE, valued at approximately $583,000, marking a new stake for the fund in the software maker.
• SAP reported earnings of $1.70 per share for the last quarter, exceeding analyst expectations of $1.63, with revenue of $10.58 billion, significantly higher than the expected $9.10 billion.
• Wall Street analysts are optimistic about SAP's stock, with multiple firms issuing "overweight" and "buy" ratings, and a consensus price target of $281.67.

Blueshift Asset Management LLC bought a new position in shares of SAP SE (NYSE:SAP - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,173 shares of the software maker's stock, valued at approximately $583,000.

Other institutional investors have also modified their holdings of the company. Commerce Bank grew its position in shares of SAP by 5.1% in the first quarter. Commerce Bank now owns 2,740 shares of the software maker's stock valued at $736,000 after purchasing an additional 134 shares during the last quarter. Cordatus Wealth Management LLC lifted its position in shares of SAP by 1.1% in the first quarter. Cordatus Wealth Management LLC now owns 3,310 shares of the software maker's stock valued at $889,000 after acquiring an additional 37 shares in the last quarter. Hoxton Planning & Management LLC purchased a new stake in SAP during the first quarter valued at about $319,000. Mesirow Financial Investment Management Inc. grew its holdings in shares of SAP by 6.6% during the 1st quarter. Mesirow Financial Investment Management Inc. now owns 3,226 shares of the software maker's stock worth $866,000 after purchasing an additional 200 shares during the period. Finally, Arkadios Wealth Advisors raised its holdings in SAP by 484.8% in the first quarter. Arkadios Wealth Advisors now owns 8,012 shares of the software maker's stock valued at $2,151,000 after buying an additional 6,642 shares during the period.

Analysts Set New Price Targets

A number of research firms have weighed in on SAP. UBS Group raised shares of SAP to a "strong-buy" rating in a research report on Friday, May 30th. Piper Sandler began coverage on SAP in a research note on Tuesday, June 17th. They set an "overweight" rating on the stock. BMO Capital Markets upped their target price on SAP from $320.00 to $330.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Jefferies Financial Group restated a "buy" rating on shares of SAP in a research note on Friday, May 2nd. Finally, Wall Street Zen cut shares of SAP from a "buy" rating to a "hold" rating in a research report on Saturday. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $281.67.

SAP Trading Up 0.4%

Shares of NYSE:SAP traded up $1.05 during midday trading on Monday, reaching $284.05. The company had a trading volume of 1,076,964 shares, compared to its average volume of 1,488,907. The company has a fifty day simple moving average of $298.92 and a two-hundred day simple moving average of $284.35. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $348.96 billion, a price-to-earnings ratio of 47.03, a price-to-earnings-growth ratio of 4.07 and a beta of 1.27. SAP SE has a 1-year low of $194.93 and a 1-year high of $313.28.

SAP (NYSE:SAP - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.70 EPS for the quarter, beating the consensus estimate of $1.63 by $0.07. SAP had a net margin of 18.26% and a return on equity of 14.84%. The business had revenue of $10.58 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the prior year, the firm earned $1.10 EPS. The firm's quarterly revenue was up 8.9% on a year-over-year basis. Research analysts predict that SAP SE will post 6.55 earnings per share for the current year.

About SAP

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.