ForthRight Wealth Management LLC Purchases New Holdings in SAP SE $SAP

Key Points

• ForthRight Wealth Management LLC has acquired a new stake in SAP SE, purchasing 3,039 shares worth approximately $924,000 in the second quarter.
• Research analysts have set new price targets for SAP, with Barclays and JMP Securities increasing their targets to $322.00 and $375.00, respectively, and the stock receiving an average rating of "Buy."
• SAP reported a strong quarterly earnings performance, with $1.70 earnings per share, beating estimates and reflecting an 8.9% year-over-year increase in revenue.

ForthRight Wealth Management LLC purchased a new stake in shares of SAP SE (NYSE:SAP - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,039 shares of the software maker's stock, valued at approximately $924,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SAP. Contravisory Investment Management Inc. boosted its holdings in shares of SAP by 3.2% in the second quarter. Contravisory Investment Management Inc. now owns 1,113 shares of the software maker's stock worth $338,000 after acquiring an additional 34 shares during the period. Independent Advisor Alliance boosted its stake in SAP by 0.4% during the first quarter. Independent Advisor Alliance now owns 9,957 shares of the software maker's stock valued at $2,673,000 after buying an additional 35 shares during the period. Cordatus Wealth Management LLC boosted its stake in SAP by 1.1% during the first quarter. Cordatus Wealth Management LLC now owns 3,310 shares of the software maker's stock valued at $889,000 after buying an additional 37 shares during the period. Sage Rhino Capital LLC boosted its stake in SAP by 1.1% during the second quarter. Sage Rhino Capital LLC now owns 3,438 shares of the software maker's stock valued at $1,045,000 after buying an additional 37 shares during the period. Finally, LCM Capital Management Inc boosted its stake in SAP by 1.9% during the first quarter. LCM Capital Management Inc now owns 2,074 shares of the software maker's stock valued at $557,000 after buying an additional 39 shares during the period.

Analysts Set New Price Targets

SAP has been the subject of several research analyst reports. Barclays reissued an "overweight" rating and set a $322.00 price objective (up previously from $308.00) on shares of SAP in a research note on Friday, July 25th. Morgan Stanley reissued an "overweight" rating on shares of SAP in a research note on Tuesday, August 5th. JMP Securities raised their price objective 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. Weiss Ratings restated a "buy (b)" rating on shares of SAP in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group restated a "buy" rating on shares of SAP in a research report on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, SAP has an average rating of "Buy" and an average price target of $281.67.

SAP Trading Up 0.3%

NYSE SAP opened at $271.42 on Thursday. The stock's 50-day simple moving average is $270.64 and its two-hundred day simple moving average is $282.35. SAP SE has a twelve month low of $227.52 and a twelve month high of $313.28. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $333.44 billion, a price-to-earnings ratio of 44.94, a PEG ratio of 4.03 and a beta of 1.28.

SAP (NYSE:SAP - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.70 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.07. SAP had a return on equity of 14.84% and a net margin of 18.26%.The business had revenue of $10.58 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter last year, the business posted $1.10 earnings per share. The company's revenue for the quarter was up 8.9% on a year-over-year basis. Research analysts forecast 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.

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