Fulton Bank N.A. Acquires Shares of 1,404 SAP SE $SAP

Key Points

• Fulton Bank N.A. has acquired 1,404 shares of SAP SE, valued at approximately $427,000, as part of their investment strategy in the second quarter.
• Several institutional investors, including TD Asset Management Inc and Goldman Sachs Group Inc, have recently increased their stakes in SAP, indicating growing confidence in the company's performance.
• SAP reported $1.70 earnings per share for the latest quarter, exceeding analyst estimates, with a revenue increase of 8.9% year-over-year, highlighting the company's strong financial growth.

Fulton Bank N.A. acquired a new stake in SAP SE (NYSE:SAP - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,404 shares of the software maker's stock, valued at approximately $427,000.

A number of other institutional investors have also made changes to their positions in the company. TD Asset Management Inc lifted its holdings in shares of SAP by 3.8% during the first quarter. TD Asset Management Inc now owns 1,662,809 shares of the software maker's stock valued at $446,364,000 after purchasing an additional 60,261 shares during the last quarter. Northern Trust Corp increased its holdings in SAP by 2.8% during the 1st quarter. Northern Trust Corp now owns 1,512,724 shares of the software maker's stock valued at $406,076,000 after purchasing an additional 40,926 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in 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 last quarter. GAMMA Investing LLC grew its stake in shares of SAP by 31,239.5% during the first 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. Finally, WCM Investment Management LLC lifted its holdings in SAP by 5.5% during the first quarter. WCM Investment Management LLC now owns 1,229,086 shares of the software maker's stock worth $329,395,000 after acquiring an additional 63,538 shares in the last quarter.

SAP Price Performance

Shares of NYSE:SAP traded down $2.61 on Friday, reaching $267.13. 1,670,653 shares of the company were exchanged, compared to its average volume of 1,972,102. The firm has a market cap of $328.17 billion, a price-to-earnings ratio of 44.23, a price-to-earnings-growth ratio of 3.83 and a beta of 1.29. SAP SE has a 1-year low of $217.51 and a 1-year high of $313.28. The company has a 50-day moving average of $279.53 and a 200-day moving average of $282.44. 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 (NYSE:SAP - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The software maker reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.07. The company had revenue of $10.58 billion during the quarter, compared to the consensus estimate of $9.10 billion. SAP had a return on equity of 14.84% and a net margin of 18.26%.The company's revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.10 earnings per share. Equities analysts forecast that SAP SE will post 6.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SAP has been the subject of several recent analyst reports. Jefferies Financial Group restated a "buy" rating on shares of SAP in a research note on Tuesday, September 16th. Wall Street Zen upgraded shares of SAP from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Erste Group Bank downgraded shares of SAP from a "buy" rating to a "hold" rating in a research report on Thursday, August 14th. Morgan Stanley reaffirmed an "overweight" rating on shares of SAP in a research note on Tuesday, August 5th. Finally, Piper Sandler initiated coverage on shares of SAP in a research report on Tuesday, June 17th. They issued an "overweight" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $281.67.

SAP 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.