SAP SE $SAP Stake Raised by Rhumbline Advisers

Key Points

• Rhumbline Advisers increased its stake in SAP SE by 5.3%, now holding 24,087 shares valued at approximately $6.47 million.
• Equities analysts show optimism for SAP, with several rating it as "overweight" and a collective target price averaging $281.67.
• SAP's quarterly earnings exceeded expectations, reporting $1.70 EPS and revenue of $10.58 billion, marking an 8.9% year-over-year growth.

Rhumbline Advisers increased its stake in SAP SE (NYSE:SAP - Free Report) by 5.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,087 shares of the software maker's stock after purchasing an additional 1,216 shares during the quarter. Rhumbline Advisers' holdings in SAP were worth $6,466,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Bartlett & CO. Wealth Management LLC increased its stake in SAP by 585.7% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 96 shares of the software maker's stock worth $26,000 after purchasing an additional 82 shares in the last quarter. Creative Financial Designs Inc. ADV increased its stake in SAP by 153.5% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 109 shares of the software maker's stock worth $29,000 after purchasing an additional 66 shares in the last quarter. Founders Capital Management increased its stake in SAP by 133.9% in the 1st quarter. Founders Capital Management now owns 131 shares of the software maker's stock worth $35,000 after purchasing an additional 75 shares in the last quarter. Highline Wealth Partners LLC increased its stake in SAP by 126.2% in the 1st quarter. Highline Wealth Partners LLC now owns 138 shares of the software maker's stock worth $37,000 after purchasing an additional 77 shares in the last quarter. Finally, Dagco Inc. purchased a new position in SAP in the 1st quarter worth about $45,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SAP shares. Wells Fargo & Company started coverage on SAP in a research note on Tuesday, May 20th. They issued an "overweight" rating on the stock. Piper Sandler started coverage on SAP in a research note on Tuesday, June 17th. They set an "overweight" rating on the stock. JMP Securities lifted their target price on SAP from $330.00 to $375.00 and gave the company a "market outperform" rating in a research note on Wednesday, July 23rd. Erste Group Bank cut SAP from a "buy" rating to a "hold" rating in a research note on Thursday, August 14th. Finally, Barclays reaffirmed an "overweight" rating and set a $322.00 target price (up previously from $308.00) on shares of SAP in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, SAP presently has a consensus rating of "Buy" and an average target price of $281.67.

SAP Trading Down 0.4%

Shares of NYSE SAP opened at $257.10 on Friday. The stock has a market cap of $315.85 billion, a price-to-earnings ratio of 42.57, a PEG ratio of 3.70 and a beta of 1.29. The business has a 50 day simple moving average of $284.11 and a 200 day simple moving average of $283.08. SAP SE has a 52 week low of $217.51 and a 52 week high of $313.28. 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 announced its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.70 EPS for the quarter, beating the consensus estimate of $1.63 by $0.07. The business had revenue of $10.58 billion during the quarter, compared to analysts' expectations of $9.10 billion. SAP had a return on equity of 14.84% and a net margin of 18.26%.The firm's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.10 EPS. On average, research analysts predict that SAP SE will post 6.55 earnings per share for the current fiscal year.

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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