53,200 Shares in SAP SE $SAP Bought by Petrus Trust Company LTA

Key Points

• Petrus Trust Company LTA has made a new investment in SAP SE, acquiring 53,200 shares for a total of approximately $14.28 million, which now represents 1.3% of its portfolio.
• SAP reported strong quarterly earnings, with an earnings per share (EPS) of $1.70, exceeding estimates, and a quarterly revenue increase of 8.9% year-over-year.
• Several analysts have recently changed their ratings on SAP, with BMO Capital Markets lifting its price target from $320.00 to $330.00 and JMP Securities adjusting it from $330.00 to $375.00.

Petrus Trust Company LTA acquired a new position in shares of SAP SE (NYSE:SAP - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 53,200 shares of the software maker's stock, valued at approximately $14,281,000. SAP comprises about 1.3% of Petrus Trust Company LTA's portfolio, making the stock its 18th biggest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of SAP. Bartlett & CO. Wealth Management LLC boosted its stake in SAP by 585.7% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 96 shares of the software maker's stock worth $26,000 after acquiring an additional 82 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its stake in SAP by 153.5% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 109 shares of the software maker's stock worth $29,000 after acquiring an additional 66 shares during the last quarter. Founders Capital Management boosted its stake in SAP by 133.9% during the 1st quarter. Founders Capital Management now owns 131 shares of the software maker's stock worth $35,000 after acquiring an additional 75 shares during the last quarter. Highline Wealth Partners LLC raised its holdings in SAP by 126.2% during the 1st 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. acquired a new stake in SAP during the 1st quarter worth approximately $45,000.

SAP Stock Down 4.1%

Shares of NYSE SAP traded down $11.08 during midday trading on Wednesday, reaching $260.40. The company's stock had a trading volume of 3,241,521 shares, compared to its average volume of 1,384,320. 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 SE has a fifty-two week low of $212.11 and a fifty-two week high of $313.28. The stock has a market capitalization of $319.90 billion, a price-to-earnings ratio of 43.11, a PEG ratio of 3.88 and a beta of 1.29. The stock has a 50 day simple moving average of $286.67 and a 200-day simple moving average of $283.63.

SAP (NYSE:SAP - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $9.10 billion. During the same period last year, the company earned $1.10 earnings per share. The firm's revenue was up 8.9% compared to the same quarter last year. Equities research analysts predict that SAP SE will post 6.55 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on SAP shares. UBS Group upgraded shares of SAP to a "strong-buy" rating in a report on Friday, May 30th. Piper Sandler started coverage on shares of SAP in a report on Tuesday, June 17th. They set an "overweight" rating on the stock. BMO Capital Markets raised their target price on shares of SAP from $320.00 to $330.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. JMP Securities raised their target price on shares of SAP from $330.00 to $375.00 and gave the stock a "market outperform" rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen downgraded shares of SAP from a "buy" rating to a "hold" rating in a report on Sunday, August 31st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, SAP has a consensus rating of "Buy" and a consensus target price of $281.67.

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.