SAP SE $SAP Stock Holdings Boosted by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stock position in SAP SE by 6.5%, owning 1,318,908 shares worth $354 million at the end of the first quarter.
• Several other institutional investors also adjusted their stakes in SAP, indicating increasing interest and confidence in the company's future performance.
• SAP reported strong quarterly earnings, surpassing analysts' expectations with $1.70 EPS and $10.58 billion in revenue, reflecting an 8.9% year-over-year increase.

Goldman Sachs Group Inc. raised its position in shares of SAP SE (NYSE:SAP - Free Report) by 6.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,318,908 shares of the software maker's stock after acquiring an additional 80,164 shares during the period. Goldman Sachs Group Inc. owned approximately 0.11% of SAP worth $354,048,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC boosted its position in shares of SAP by 585.7% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 96 shares of the software maker's stock worth $26,000 after buying an additional 82 shares during the period. Creative Financial Designs Inc. ADV boosted its position in shares of SAP by 153.5% in the first quarter. Creative Financial Designs Inc. ADV now owns 109 shares of the software maker's stock worth $29,000 after buying an additional 66 shares during the period. Founders Capital Management boosted its position in shares of SAP by 133.9% in the first quarter. Founders Capital Management now owns 131 shares of the software maker's stock worth $35,000 after buying an additional 75 shares during the period. Highline Wealth Partners LLC boosted its position in shares of SAP by 126.2% in the first quarter. Highline Wealth Partners LLC now owns 138 shares of the software maker's stock worth $37,000 after buying an additional 77 shares during the period. Finally, Dagco Inc. purchased a new stake in shares of SAP in the first quarter worth about $45,000.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SAP shares. Morgan Stanley reaffirmed an "overweight" rating on shares of SAP in a research report on Tuesday, August 5th. UBS Group raised SAP to a "strong-buy" rating in a report on Friday, May 30th. Wall Street Zen downgraded SAP from a "buy" rating to a "hold" rating in a report on Sunday, August 31st. Piper Sandler initiated coverage on SAP in a report on Tuesday, June 17th. They issued an "overweight" rating for the company. Finally, Erste Group Bank cut SAP from a "buy" rating to a "hold" rating in a research note on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, SAP presently has a consensus rating of "Buy" and an average price target of $281.67.

SAP Stock Performance

Shares of SAP stock traded down $1.09 on Friday, reaching $257.10. 1,499,883 shares of the company were exchanged, compared to its average volume of 1,395,899. 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 company's 50-day moving average is $285.03 and its two-hundred day moving average is $283.29. The firm has a market cap of $315.85 billion, a price-to-earnings ratio of 42.57, a P/E/G ratio of 3.74 and a beta of 1.29. SAP SE has a 1-year low of $217.51 and a 1-year high of $313.28.

SAP (NYSE:SAP - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.70 earnings per share for the quarter, topping 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 analysts' expectations of $9.10 billion. During the same period in the prior year, the firm earned $1.10 EPS. The business's quarterly revenue was up 8.9% on a year-over-year basis. As a group, research analysts expect that SAP SE will post 6.55 earnings per share 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.