SAP SE $SAP Shares Purchased by Cidel Asset Management Inc.

Key Points

• Cidel Asset Management Inc. increased its stake in SAP SE by 20.2% during Q2, now holding 127,005 shares valued at approximately $38.6 million.
• SAP reported a quarterly earnings per share (EPS) of $1.70, surpassing estimates and achieving revenue growth of 8.9% year-over-year.
• Wall Street analysts maintain a consensus of a "Buy" rating for SAP shares, with a target price averaging $281.67.

Cidel Asset Management Inc. boosted its holdings in SAP SE (NYSE:SAP - Free Report) by 20.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 127,005 shares of the software maker's stock after buying an additional 21,372 shares during the period. SAP accounts for approximately 2.3% of Cidel Asset Management Inc.'s holdings, making the stock its 13th largest holding. Cidel Asset Management Inc.'s holdings in SAP were worth $38,622,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new stake in SAP in the 2nd quarter worth about $920,000. Modern Wealth Management LLC boosted its stake in SAP by 292.2% in the 1st 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 during 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 buying an additional 2,766 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in SAP by 6.5% in the 1st 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. Finally, Bain Capital Public Equity Management II LLC acquired a new stake in SAP in the 1st quarter worth about $13,869,000.

SAP Stock Performance

Shares of NYSE:SAP opened at $272.84 on Friday. The company has a market cap of $335.18 billion, a P/E ratio of 45.17, a PEG ratio of 4.06 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 SE has a one year low of $227.52 and a one year high of $313.28. The business's 50-day simple moving average is $269.74 and its 200 day simple moving average is $282.45.

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 (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.07. SAP had a return on equity of 14.84% and a net margin of 18.26%.The company had revenue of $10.58 billion for 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. SAP's revenue for the quarter was up 8.9% compared to the same quarter last year. On average, sell-side analysts forecast that SAP SE will post 6.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SAP shares. Barclays reaffirmed an "overweight" rating and issued a $322.00 price objective (up from $308.00) on shares of SAP in a research note on Friday, July 25th. Wall Street Zen lowered SAP from a "buy" rating to a "hold" rating in a research note on Friday, October 3rd. Erste Group Bank lowered SAP from a "buy" rating to a "hold" rating in a research note on Thursday, August 14th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of SAP in a research note on Wednesday, October 8th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of SAP in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average 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.

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