SAP SE $SAP Shares Purchased by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC has significantly increased its stake in SAP SE by 108.1%, acquiring an additional 66,551 shares during the second quarter, valuing their holdings at approximately $38.5 million.
• SAP reported earnings per share of $1.70 for the last quarter, exceeding expectations of $1.63, along with a revenue of $10.58 billion compared to anticipated revenue of $9.10 billion.
• Analyst reports indicate a positive outlook for SAP, with several upgrades, including JMP Securities raising their target price from $330 to $375 and maintaining a "market outperform" rating.

Allspring Global Investments Holdings LLC increased its stake in SAP SE (NYSE:SAP - Free Report) by 108.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 128,100 shares of the software maker's stock after acquiring an additional 66,551 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in SAP were worth $38,517,000 at the end of the most recent quarter.

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

SAP Trading Up 0.3%

Shares of NYSE SAP opened at $271.42 on Thursday. The business has a 50 day simple moving average of $270.64 and a 200 day simple moving average of $282.35. SAP SE has a 52 week low of $227.52 and a 52 week high of $313.28. The stock has a market cap of $333.44 billion, a price-to-earnings ratio of 44.94, a PEG ratio of 4.03 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.

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

Analyst Upgrades and Downgrades

SAP has been the subject of several recent analyst reports. JMP Securities raised their target price on SAP from $330.00 to $375.00 and gave the stock a "market outperform" rating in a research report on Wednesday, July 23rd. Erste Group Bank lowered SAP from a "buy" rating to a "hold" rating in a research report on Thursday, August 14th. Jefferies Financial Group reiterated a "buy" rating on shares of SAP in a report on Tuesday, September 16th. Oddo Bhf raised shares of SAP from a "neutral" rating to an "outperform" rating in a research report on Wednesday, September 24th. Finally, Barclays reaffirmed an "overweight" rating and set a $322.00 price objective (up from $308.00) on shares of SAP in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price 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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