Tcfg Wealth Management LLC Makes New $316,000 Investment in SAP SE $SAP

Key Points

• Tcfg Wealth Management LLC has made a new investment of approximately $316,000 in SAP SE, acquiring 1,040 shares of the software maker's stock during the 2nd quarter.
• Other notable institutional investors also increased their stakes in SAP, including Modern Wealth Management LLC, which grew its position by 292.2%, now holding shares worth $1,252,000.
• SAP reported a quarterly earnings per share (EPS) of $1.70, exceeding estimates, with revenue of $10.58 billion for the quarter, marking an 8.9% year-over-year increase.

Tcfg Wealth Management LLC bought a new position in SAP SE (NYSE:SAP - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,040 shares of the software maker's stock, valued at approximately $316,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Central Pacific Bank Trust Division bought a new position in SAP in the 2nd quarter worth about $920,000. Modern Wealth Management LLC grew its position 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 purchasing an additional 3,474 shares during the last quarter. Ascent Group LLC grew its position 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 last quarter. Goldman Sachs Group Inc. lifted its stake in shares of 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 acquiring an additional 80,164 shares during the period. Finally, Bain Capital Public Equity Management II LLC acquired a new stake in shares of SAP in the 1st quarter worth approximately $13,869,000.

SAP Stock Down 0.1%

SAP stock opened at $274.06 on Wednesday. SAP SE has a 12 month low of $223.26 and a 12 month high of $313.28. The firm has a market cap of $336.68 billion, a PE ratio of 45.37, a P/E/G ratio of 3.94 and a beta of 1.28. The firm has a 50 day simple moving average of $272.46 and a 200 day simple moving average of $282.43. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.03 and a quick ratio of 1.03.

SAP (NYSE:SAP - Get Free Report) last released its 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 analyst estimates of $9.10 billion. SAP had a net margin of 18.26% and a return on equity of 14.84%. The business's quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.10 earnings per share. Equities research analysts forecast that SAP SE will post 6.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SAP shares. Oddo Bhf raised shares of SAP from a "neutral" rating to an "outperform" rating in a research note on Wednesday, September 24th. Piper Sandler started coverage on shares of SAP in a research note on Tuesday, June 17th. They issued an "overweight" rating for the company. Barclays reaffirmed an "overweight" rating and issued a $322.00 price target (up from $308.00) on shares of SAP in a research note on Friday, July 25th. Wall Street Zen lowered shares of SAP from a "buy" rating to a "hold" rating in a research note on Friday, October 3rd. Finally, JMP Securities upped their price target 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. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, SAP presently has an average rating of "Buy" and an average 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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