NorthCrest Asset Manangement LLC Has $24.23 Million Stock Holdings in SAP SE $SAP

Key Points

• NorthCrest Asset Management LLC increased its stake in SAP SE by 1.2%, owning a total of 79,767 shares valued at approximately $24.2 million.
• Numerous institutional investors, including GAMMA Investing LLC and Deutsche Bank AG, substantially boosted their holdings in SAP during the first quarter, highlighting strong interest in the software maker.
• SAP reported strong earnings results, with an EPS of $1.70 for the last quarter, exceeding expectations, and a revenue increase of 8.9% year-over-year, totaling $10.58 billion.

NorthCrest Asset Manangement LLC increased its stake in shares of SAP SE (NYSE:SAP - Free Report) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 79,767 shares of the software maker's stock after purchasing an additional 976 shares during the period. NorthCrest Asset Manangement LLC's holdings in SAP were worth $24,227,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Central Pacific Bank Trust Division purchased a new position in shares of SAP in the second quarter worth $920,000. Modern Wealth Management LLC lifted its holdings in shares of SAP by 292.2% in the first quarter. Modern Wealth Management LLC now owns 4,663 shares of the software maker's stock worth $1,252,000 after buying an additional 3,474 shares in the last quarter. Ascent Group LLC raised its stake in SAP by 196.3% during the first quarter. Ascent Group LLC now owns 4,175 shares of the software maker's stock valued at $1,121,000 after purchasing an additional 2,766 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in SAP by 6.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,318,908 shares of the software maker's stock valued at $354,048,000 after purchasing an additional 80,164 shares in the last quarter. Finally, Bain Capital Public Equity Management II LLC purchased a new stake in SAP during the first quarter valued at $13,869,000.

SAP Stock Down 0.6%

SAP stock traded down $1.71 during midday trading on Monday, hitting $265.20. 902,457 shares of the company's stock were exchanged, compared to its average volume of 1,435,897. 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 12-month low of $217.51 and a 12-month high of $313.28. The firm has a 50 day moving average price of $279.53 and a 200-day moving average price of $282.44. The stock has a market capitalization of $325.80 billion, a price-to-earnings ratio of 43.91, a price-to-earnings-growth ratio of 3.83 and a beta of 1.29.

SAP (NYSE:SAP - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.70 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.07. SAP had a return on equity of 14.84% and a net margin of 18.26%.The business had revenue of $10.58 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same period in the previous year, the business earned $1.10 EPS. The business's quarterly revenue was up 8.9% on a year-over-year basis. On average, analysts anticipate that SAP SE will post 6.55 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SAP shares. Wall Street Zen raised shares of SAP from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Jefferies Financial Group restated a "buy" rating on shares of SAP in a report on Tuesday, September 16th. Morgan Stanley reissued an "overweight" rating on shares of SAP in a research report on Tuesday, August 5th. JMP Securities raised their price objective on shares of SAP from $330.00 to $375.00 and gave the stock a "market outperform" rating in a research note on Wednesday, July 23rd. Finally, UBS Group raised shares of SAP to a "strong-buy" rating in a research note on Friday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, SAP presently has a consensus rating of "Buy" and a consensus 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.