Perigon Wealth Management LLC Raises Stake in SAP SE $SAP

Key Points

• Perigon Wealth Management LLC increased its stake in SAP SE by 187.8% during the 2nd quarter, owning 11,146 shares valued at $3,390,000.
• Several analysts have issued mixed ratings on SAP, with Barclays setting a price target of $322.00 and 12 analysts giving it a Buy rating.
• SAP's latest earnings report showed a net margin of 18.26% with revenue of $10.58 billion, surpassing expectations significantly.

Perigon Wealth Management LLC raised its position in shares of SAP SE (NYSE:SAP - Free Report) by 187.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,146 shares of the software maker's stock after purchasing an additional 7,273 shares during the quarter. Perigon Wealth Management LLC's holdings in SAP were worth $3,390,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Central Pacific Bank Trust Division purchased a new position in SAP during the second quarter valued at approximately $920,000. Modern Wealth Management LLC lifted its holdings in SAP by 292.2% during the first quarter. Modern Wealth Management LLC now owns 4,663 shares of the software maker's stock valued at $1,252,000 after purchasing an additional 3,474 shares in the last quarter. Ascent Group LLC lifted its holdings in SAP by 196.3% during the first quarter. Ascent Group LLC now owns 4,175 shares of the software maker's stock valued at $1,121,000 after purchasing an additional 2,766 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in SAP by 6.5% during 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 purchasing an additional 80,164 shares in the last quarter. Finally, Bain Capital Public Equity Management II LLC bought a new stake in shares of SAP during the first quarter valued at approximately $13,869,000.

Analyst Ratings Changes

Several research firms have recently issued reports on SAP. Barclays reiterated an "overweight" rating and set a $322.00 price objective (up previously from $308.00) on shares of SAP in a research report on Friday, July 25th. Morgan Stanley reiterated an "overweight" rating on shares of SAP in a research report on Tuesday, August 5th. Oddo Bhf upgraded shares of SAP from a "neutral" rating to an "outperform" rating in a research report on Wednesday. Erste Group Bank cut shares of SAP from a "buy" rating to a "hold" rating in a research report on Thursday, August 14th. Finally, Wall Street Zen upgraded shares of SAP from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $281.67.

SAP Trading Up 0.7%

Shares of SAP opened at $264.38 on Friday. The company's fifty day moving average is $275.60 and its 200 day moving average is $282.19. SAP SE has a fifty-two week low of $217.51 and a fifty-two week high of $313.28. The stock has a market capitalization of $324.79 billion, a PE ratio of 43.77, a P/E/G ratio of 3.77 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 1.03.

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 the consensus estimate of $1.63 by $0.07. SAP had a net margin of 18.26% and a return on equity of 14.84%. The company had revenue of $10.58 billion for the quarter, compared to analysts' expectations of $9.10 billion. During the same quarter in the previous year, the business posted $1.10 earnings per share. SAP's quarterly revenue was up 8.9% on a year-over-year basis. Sell-side analysts expect that SAP SE will post 6.55 earnings per share for the current fiscal year.

SAP Company 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.

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