Picton Mahoney Asset Management Acquires 2,845 Shares of SAP SE (NYSE:SAP)

Key Points

• Picton Mahoney Asset Management increased its holdings in SAP SE by 8.9%, owning 34,649 shares valued at $9.3 million following the purchase of an additional 2,845 shares.
• Multiple firms recently upgraded SAP SE with new ratings, including Wall Street Zen moving to "buy" and JMP Securities increasing their price target from $330 to $375.
• SAP reported $1.70 EPS for the last quarter, exceeding estimates and reflecting an 8.9% revenue increase year-over-year, leading analysts to predict 6.55 EPS for the current year.

Picton Mahoney Asset Management raised its stake in shares of SAP SE (NYSE:SAP - Free Report) by 8.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,649 shares of the software maker's stock after buying an additional 2,845 shares during the quarter. Picton Mahoney Asset Management's holdings in SAP were worth $9,300,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. TD Asset Management Inc grew its holdings in shares of SAP by 3.8% during the 1st quarter. TD Asset Management Inc now owns 1,662,809 shares of the software maker's stock worth $446,364,000 after purchasing an additional 60,261 shares in the last quarter. Northern Trust Corp boosted its position in shares of SAP by 91.2% during the 4th quarter. Northern Trust Corp now owns 1,471,798 shares of the software maker's stock valued at $362,371,000 after acquiring an additional 701,880 shares during the last quarter. JPMorgan Chase & Co. increased its stake in SAP by 145.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,346,506 shares of the software maker's stock worth $331,523,000 after purchasing an additional 798,037 shares during the period. Bank of America Corp DE grew its stake in SAP by 5.7% in the fourth quarter. Bank of America Corp DE now owns 1,314,814 shares of the software maker's stock worth $323,720,000 after purchasing an additional 70,613 shares during the period. Finally, GAMMA Investing LLC lifted its holdings 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 valued at $350,644,000 after purchasing an additional 1,302,061 shares in the last quarter.

SAP Price Performance

Shares of NYSE SAP traded down $4.33 during trading on Friday, reaching $282.37. The company had a trading volume of 1,205,958 shares, compared to its average volume of 1,332,793. The stock has a market cap of $346.89 billion, a PE ratio of 46.64, a PEG ratio of 4.18 and a beta of 1.30. The business's 50 day moving average price is $299.16 and its 200-day moving average price is $283.84. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.17 and a current ratio of 1.03. SAP SE has a 52 week low of $194.93 and a 52 week 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 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 firm had revenue of $10.58 billion during the quarter, compared to analysts' expectations of $9.10 billion. During the same quarter last year, the company posted $1.10 earnings per share. The company's revenue for the quarter was up 8.9% compared to the same quarter last year. Analysts expect that SAP SE will post 6.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SAP shares. BMO Capital Markets raised their price target on SAP from $320.00 to $330.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Wall Street Zen upgraded shares of SAP from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. UBS Group raised shares of SAP to a "strong-buy" rating in a research report on Friday, May 30th. Piper Sandler began coverage on shares of SAP in a research report on Tuesday, June 17th. They set an "overweight" rating for the company. Finally, Barclays reaffirmed an "overweight" rating and issued a $322.00 price objective (up previously from $308.00) on shares of SAP in a research note on Friday, July 25th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, SAP presently has an average 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.