Carnegie Investment Counsel Makes New Investment in SAP SE (NYSE:SAP)

Key Points

• Carnegie Investment Counsel has acquired a new position in SAP SE, purchasing 918 shares valued at approximately $244,000 in the first quarter.
• Several institutional investors significantly increased their holdings in SAP, with Bartlett & CO. Wealth Management LLC growing theirs by 585.7%.
• SAP reported earnings of $1.70 per share, exceeding estimates and showing an 8.9% increase in revenue compared to the previous year.

Carnegie Investment Counsel purchased a new position in shares of SAP SE (NYSE:SAP - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 918 shares of the software maker's stock, valued at approximately $244,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SAP. Bartlett & CO. Wealth Management LLC grew its holdings in SAP by 585.7% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 96 shares of the software maker's stock worth $26,000 after acquiring an additional 82 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in SAP by 153.5% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 109 shares of the software maker's stock worth $29,000 after acquiring an additional 66 shares in the last quarter. Founders Capital Management grew its holdings 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 acquiring an additional 75 shares in the last quarter. Highline Wealth Partners LLC grew its holdings in SAP by 126.2% during the 1st quarter. Highline Wealth Partners LLC now owns 138 shares of the software maker's stock worth $37,000 after acquiring an additional 77 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in SAP during the 1st quarter worth approximately $53,000.

Wall Street Analysts Forecast Growth

SAP has been the topic of a number of research analyst reports. Argus reissued a "buy" rating and set a $320.00 price objective on shares of SAP in a report on Tuesday, April 29th. Wells Fargo & Company initiated coverage on shares of SAP in a report on Tuesday, May 20th. They set an "overweight" rating on the stock. Piper Sandler initiated coverage on shares of SAP in a report on Tuesday, June 17th. They set an "overweight" rating on the stock. BMO Capital Markets raised their price objective on shares of SAP from $320.00 to $330.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. Finally, Barclays raised their price objective on shares of SAP from $308.00 to $322.00 and gave the stock an "overweight" rating in a report on Friday. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $281.67.

SAP Trading Up 0.6%

NYSE:SAP opened at $287.75 on Friday. The firm has a market cap of $353.50 billion, a P/E ratio of 47.64, a PEG ratio of 4.13 and a beta of 1.30. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15. The stock's 50 day simple moving average is $300.15 and its 200-day simple moving average is $283.08. SAP SE has a 12-month low of $194.93 and a 12-month high of $313.28.

SAP (NYSE:SAP - Get Free Report) last released its earnings results on Tuesday, July 22nd. The software maker reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.07. The business had revenue of $10.58 billion for the quarter, compared to analyst estimates of $9.10 billion. SAP had a return on equity of 14.77% and a net margin of 18.26%. The company's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 earnings per share. Equities analysts anticipate that SAP SE will post 6.55 EPS 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.

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