R Squared Ltd Takes $435,000 Position in SAP SE $SAP

Key Points

• R Squared Ltd has acquired a new position in SAP SE, purchasing 1,431 shares valued at approximately $435,000 in the second quarter of 2023.
• Several hedge funds, including TD Asset Management and Goldman Sachs, have also increased their stakes in SAP, reflecting growing institutional interest.
• Analysts maintain a positive outlook on SAP, with a consensus rating of "Buy" and a price target of $284.33, after the company reported better-than-expected earnings of $1.86 per share.

R Squared Ltd purchased a new position in SAP SE (NYSE:SAP - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,431 shares of the software maker's stock, valued at approximately $435,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. TD Asset Management Inc increased its stake in shares of SAP by 3.8% in the first quarter. TD Asset Management Inc now owns 1,662,809 shares of the software maker's stock worth $446,364,000 after buying an additional 60,261 shares during the last quarter. Northern Trust Corp increased its stake in shares of SAP by 2.8% in the first quarter. Northern Trust Corp now owns 1,512,724 shares of the software maker's stock worth $406,076,000 after buying an additional 40,926 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of SAP by 6.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,318,908 shares of the software maker's stock worth $354,048,000 after buying an additional 80,164 shares during the last quarter. WCM Investment Management LLC increased its stake in shares of SAP by 5.5% in the first quarter. WCM Investment Management LLC now owns 1,229,086 shares of the software maker's stock worth $329,395,000 after buying an additional 63,538 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of SAP by 2.6% in the first quarter. BNP Paribas Financial Markets now owns 366,871 shares of the software maker's stock worth $98,483,000 after buying an additional 9,411 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts recently issued reports on SAP shares. Oddo Bhf upgraded shares of SAP from a "neutral" rating to an "outperform" rating in a research note on Wednesday, September 24th. KeyCorp reiterated an "overweight" rating on shares of SAP in a research note on Thursday. Weiss Ratings reiterated a "buy (b)" rating on shares of SAP in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of SAP from a "buy" rating to a "hold" rating in a research note on Friday, October 3rd. Finally, Morgan Stanley reiterated an "overweight" rating on shares of SAP in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $284.33.

SAP Stock Performance

Shares of SAP opened at $269.11 on Friday. SAP SE has a 1 year low of $227.52 and a 1 year high of $313.28. The company has a market cap of $330.61 billion, a price-to-earnings ratio of 40.29, a price-to-earnings-growth ratio of 4.12 and a beta of 1.28. 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 firm has a fifty day moving average of $269.42 and a 200-day moving average of $283.19.

SAP (NYSE:SAP - Get Free Report) last announced its quarterly earnings results on Wednesday, October 22nd. The software maker reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.17. SAP had a net margin of 19.50% and a return on equity of 15.87%. The company had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. The company's revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, equities analysts anticipate that SAP SE will post 6.55 earnings per share for the current 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.

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