SAP SE $SAP Shares Purchased by Pzena Investment Management LLC

Key Points

• Pzena Investment Management increased its SAP stake by 128.6% in the third quarter, adding 8,431 shares to hold 14,985 shares valued at $3.124 million.
• Analyst sentiment is broadly positive: SAP has a consensus “Moderate Buy” rating and an average price target of $258.83. BMO Capital Markets and Barclays recently raised their targets to $265 and $288, respectively.
• SAP shares opened at $243.47, within a 12-month range of $144.97 to $258.50; the company’s market capitalization was about $299.1 billion.

Pzena Investment Management LLC boosted its holdings in shares of SAP SE (NYSE:SAP - Free Report) by 128.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,985 shares of the software maker's stock after purchasing an additional 8,431 shares during the period. Pzena Investment Management LLC's holdings in SAP were worth $3,124,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SAP. Allworth Financial LP grew its stake in shares of SAP by 1.5% in the 2nd quarter. Allworth Financial LP now owns 3,304 shares of the software maker's stock valued at $509,000 after purchasing an additional 48 shares during the period. Sage Rhino Capital LLC raised its holdings in shares of SAP by 1.4% in the 3rd quarter. Sage Rhino Capital LLC now owns 3,451 shares of the software maker's stock worth $719,000 after buying an additional 49 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of SAP by 1.0% in the 1st quarter. Checchi Capital Advisers LLC now owns 6,059 shares of the software maker's stock worth $1,037,000 after buying an additional 59 shares in the last quarter. Physician Wealth Advisors Inc. lifted its position in shares of SAP by 38.0% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 236 shares of the software maker's stock worth $49,000 after buying an additional 65 shares during the period. Finally, Signature Equity Partners LLC lifted its position in shares of SAP by 75.6% during the 3rd quarter. Signature Equity Partners LLC now owns 158 shares of the software maker's stock worth $33,000 after buying an additional 68 shares during the period.

Analyst Ratings Changes

SAP has been the topic of several recent analyst reports. Wells Fargo & Company reaffirmed an "overweight" rating on shares of SAP in a research note on Wednesday, August 12th. BMO Capital Markets increased their price objective on SAP from $235.00 to $265.00 and gave the stock an "outperform" rating in a research note on Thursday, October 22nd. Barclays increased their price objective on SAP from $243.00 to $288.00 and gave the stock an "overweight" rating in a research note on Friday, October 23rd. Morgan Stanley reissued an "overweight" rating on shares of SAP in a report on Friday, August 21st. Finally, Argus set a $265.00 target price on shares of SAP in a research note on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $258.83.

SAP Price Performance

NYSE:SAP opened at $243.47 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.18. The firm has a market cap of $299.10 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 2.90 and a beta of 1.11. SAP SE has a 12 month low of $144.97 and a 12 month high of $258.50. The company's 50-day moving average price is $219.57 and its two-hundred day moving average price is $192.40.

About SAP

SAP SE is a global enterprise software company headquartered in Walldorf, Germany. Founded in 1972 by five former IBM employees, SAP originally developed software to help businesses integrate accounting and operational data. The company has since become a major provider of cloud-based business applications and enterprise technology.

SAP's portfolio includes enterprise resource planning software, including SAP S/4HANA Cloud, along with solutions for finance, procurement, supply chain management, human resources, customer experience and business analytics.

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