QRG Capital Management Inc. Raises Stock Position in SAP SE $SAP

Key Points

• QRG Capital Management increased its SAP stake by 12% in the second quarter, adding 7,315 shares to reach 68,368 shares valued at approximately $10.5 million.
• SAP reported quarterly EPS of $1.82, below the $2.00 analyst consensus, while revenue of $11.27 billion rose 9.4% year over year and was slightly below estimates.
• Analysts remain broadly positive, with SAP receiving a “Moderate Buy” consensus rating and an average price target of $256.29, above its reported trading price of $209.19.

QRG Capital Management Inc. raised its stake in SAP SE (NYSE:SAP - Free Report) by 12.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,368 shares of the software maker's stock after purchasing an additional 7,315 shares during the period. QRG Capital Management Inc.'s holdings in SAP were worth $10,536,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP raised its holdings in shares of SAP by 1.5% in the 2nd quarter. Allworth Financial LP now owns 3,304 shares of the software maker's stock worth $509,000 after acquiring an additional 48 shares during the last quarter. Baker Avenue Asset Management LP boosted its holdings in SAP by 7.1% during the 4th quarter. Baker Avenue Asset Management LP now owns 888 shares of the software maker's stock worth $216,000 after acquiring an additional 59 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of SAP by 1.0% in the first quarter. Checchi Capital Advisers LLC now owns 6,059 shares of the software maker's stock valued at $1,037,000 after purchasing an additional 59 shares during the last quarter. King Luther Capital Management Corp grew its position in SAP by 3.4% in the 4th quarter. King Luther Capital Management Corp now owns 1,899 shares of the software maker's stock worth $461,000 after purchasing an additional 63 shares in the last quarter. Finally, Baron Wealth Management LLC boosted its stake in shares of SAP by 3.9% in the 1st quarter. Baron Wealth Management LLC now owns 1,707 shares of the software maker's stock worth $292,000 after buying an additional 64 shares during the last quarter.

SAP Trading Down 0.7%

SAP stock opened at $209.19 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.15 and a current ratio of 1.15. The company has a market capitalization of $256.99 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 2.48 and a beta of 1.14. The company's 50 day moving average price is $200.98 and its two-hundred day moving average price is $181.60. SAP SE has a one year low of $144.97 and a one year high of $281.36.

SAP (NYSE:SAP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The software maker reported $1.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.00 by ($0.18). The company had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.30 billion. SAP had a net margin of 20.88% and a return on equity of 17.07%. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $1.50 earnings per share. As a group, analysts predict that SAP SE will post 8.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SAP shares. Morgan Stanley reaffirmed an "overweight" rating on shares of SAP in a research report on Friday, August 21st. TD Cowen reissued a "buy" rating on shares of SAP in a report on Friday, July 24th. Argus set a $265.00 price objective on SAP in a report on Thursday, September 10th. Wells Fargo & Company restated an "overweight" rating on shares of SAP in a research report on Wednesday, August 12th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $265.00 price objective on shares of SAP in a research note on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, SAP has an average rating of "Moderate Buy" and an average price target of $256.29.

SAP Profile

SAP SE is a German enterprise software company headquartered in Walldorf, Germany. The company develops technology that helps organizations manage core business operations, including finance, procurement, supply chain, manufacturing, human resources, sales and customer relationships.

SAP's portfolio is centered on its cloud-based enterprise resource planning platform, SAP S/4HANA, along with the SAP Business Technology Platform. Its products and services also include SAP SuccessFactors for human resources, SAP Ariba for business-to-business procurement, SAP Concur for travel and expense management, and solutions for customer experience, data management, analytics and artificial intelligence.

SAP was founded in 1972 by five former IBM employees and has grown into a global provider of business software.

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