Concurrent Investment Advisors LLC Increases Stock Position in SAP SE (NYSE:SAP)

Concurrent Investment Advisors LLC raised its holdings in SAP SE (NYSE:SAP - Free Report) by 124.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,241 shares of the software maker's stock after purchasing an additional 1,799 shares during the quarter. Concurrent Investment Advisors LLC's holdings in SAP were worth $870,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC raised its holdings in SAP by 31,239.5% in the 1st quarter. GAMMA Investing LLC now owns 1,306,229 shares of the software maker's stock worth $350,644,000 after purchasing an additional 1,302,061 shares during the period. TD Asset Management Inc. raised its stake in shares of SAP by 125.0% during the 4th quarter. TD Asset Management Inc. now owns 1,602,548 shares of the software maker's stock worth $394,563,000 after buying an additional 890,157 shares during the period. JPMorgan Chase & Co. lifted its position in shares of SAP by 145.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,346,506 shares of the software maker's stock valued at $331,523,000 after buying an additional 798,037 shares in the last quarter. Northern Trust Corp grew its stake in SAP by 91.2% in the 4th quarter. Northern Trust Corp now owns 1,471,798 shares of the software maker's stock valued at $362,371,000 after acquiring an additional 701,880 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in SAP in the 4th quarter worth $163,630,000.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SAP shares. UBS Group upgraded shares of SAP to a "strong-buy" rating in a research report on Friday, May 30th. Piper Sandler started coverage on SAP in a report on Tuesday, June 17th. They set an "overweight" rating for the company. JMP Securities restated a "market outperform" rating and issued a $330.00 target price on shares of SAP in a research report on Friday, May 23rd. Wells Fargo & Company assumed coverage on SAP in a research report on Tuesday, May 20th. They set an "overweight" rating for the company. Finally, BMO Capital Markets raised their price objective on SAP from $320.00 to $330.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Eleven investment 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, the stock presently has a consensus rating of "Buy" and a consensus target price of $271.83.

SAP Trading Down 1.8%

Shares of SAP traded down $5.57 during mid-day trading on Thursday, reaching $306.36. The stock had a trading volume of 1,368,918 shares, compared to its average volume of 1,088,938. SAP SE has a 52-week low of $194.93 and a 52-week high of $314.68. The firm has a market cap of $376.37 billion, a price-to-earnings ratio of 58.69, a P/E/G ratio of 4.38 and a beta of 1.30. The business's fifty day moving average is $298.74 and its 200 day moving average is $278.56. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.17 and a quick 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 (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.12. The business had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $9.08 billion. SAP had a net margin of 16.33% and a return on equity of 13.66%. On average, sell-side analysts predict that SAP SE will post 6.55 EPS for the current fiscal 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.