SAP SE (NYSE:SAP) Shares Purchased by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its holdings in SAP SE by 3.8% to own 1,662,809 shares, valued at approximately $446 million.
• SAP reported quarterly earnings of $1.70 per share, exceeding analyst expectations, with revenue of $10.58 billion, up 8.9% year-over-year.
• Several analysts have raised their price targets for SAP, with Barclays increasing it from $308 to $322 and BMO Capital Markets from $320 to $330.

TD Asset Management Inc boosted its holdings in SAP SE (NYSE:SAP - Free Report) by 3.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,662,809 shares of the software maker's stock after acquiring an additional 60,261 shares during the period. TD Asset Management Inc owned 0.14% of SAP worth $446,364,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Deutsche Bank AG lifted its holdings in SAP by 41.3% in the fourth quarter. Deutsche Bank AG now owns 4,773 shares of the software maker's stock valued at $1,175,000 after acquiring an additional 1,396 shares during the last quarter. National Bank of Canada FI lifted its holdings in SAP by 3.3% in the fourth quarter. National Bank of Canada FI now owns 75,692 shares of the software maker's stock valued at $18,636,000 after acquiring an additional 2,445 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in SAP by 473.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,081 shares of the software maker's stock valued at $502,000 after acquiring an additional 1,718 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in SAP in the first quarter valued at approximately $790,000. Finally, Alliancebernstein L.P. lifted its holdings in SAP by 15.7% in the fourth quarter. Alliancebernstein L.P. now owns 1,271 shares of the software maker's stock valued at $313,000 after acquiring an additional 172 shares during the last quarter.

SAP Stock Up 0.6%

SAP stock opened at $287.75 on Friday. SAP SE has a twelve month low of $194.93 and a twelve month high of $313.28. The stock's fifty day simple moving average is $300.15 and its 200-day simple moving average is $282.88. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $353.51 billion, a P/E ratio of 47.64, a P/E/G ratio of 4.10 and a beta of 1.30.

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 for the quarter, topping analysts' consensus estimates of $1.63 by $0.07. SAP had a return on equity of 14.77% and a net margin of 18.26%. The business had revenue of $10.58 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the prior year, the company earned $1.10 earnings per share. The company's revenue was up 8.9% on a year-over-year basis. As a group, equities analysts expect that SAP SE will post 6.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SAP has been the topic of a number of research reports. UBS Group upgraded SAP to a "strong-buy" rating in a research note on Friday, May 30th. Barclays upped their price target on SAP from $308.00 to $322.00 and gave the stock an "overweight" rating in a research note on Friday. BMO Capital Markets upped their price target on SAP from $320.00 to $330.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Piper Sandler initiated coverage on SAP in a research note on Tuesday, June 17th. They set an "overweight" rating on the stock. Finally, Jefferies Financial Group restated a "buy" rating on shares of SAP in a research note on Friday, May 2nd. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $281.67.

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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