Tidal Investments LLC Buys 189,591 Shares of SAP SE $SAP

Key Points

• Tidal Investments increased its SAP stake by 18.5% in the second quarter, purchasing 189,591 additional shares to reach 1.21 million shares valued at approximately $187.1 million.
• SAP’s latest quarterly results fell short of expectations, with earnings of $1.82 per share versus the $2.00 consensus estimate and revenue of $11.27 billion. However, revenue grew 9.4% year over year.
• Analysts maintain a generally positive outlook, with SAP holding a consensus “Moderate Buy” rating and an average price target of $264.83, despite the stock opening at $209.18.

Tidal Investments LLC boosted its stake in SAP SE (NYSE:SAP - Free Report) by 18.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,214,315 shares of the software maker's stock after purchasing an additional 189,591 shares during the quarter. Tidal Investments LLC owned about 0.10% of SAP worth $187,138,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SAP. Bayban acquired a new position in shares of SAP during the 4th quarter worth about $28,000. Continuum Advisory LLC acquired a new stake in shares of SAP in the 2nd quarter valued at approximately $31,000. Front Row Advisors LLC boosted its stake in SAP by 362.5% during the 1st quarter. Front Row Advisors LLC now owns 185 shares of the software maker's stock worth $32,000 after acquiring an additional 145 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its stake in SAP by 758.8% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 146 shares of the software maker's stock worth $35,000 after acquiring an additional 129 shares during the last quarter. Finally, Markowski Investments acquired a new position in SAP during the second quarter valued at approximately $41,000.

SAP Stock Down 1.1%

Shares of SAP stock opened at $209.18 on Thursday. SAP SE has a 52-week low of $144.97 and a 52-week high of $281.36. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.15 and a current ratio of 1.15. The business's 50 day simple moving average is $189.62 and its 200 day simple moving average is $180.66. The firm has a market cap of $256.97 billion, a PE ratio of 26.28, a P/E/G ratio of 2.52 and a beta of 1.14.

SAP (NYSE:SAP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The software maker reported $1.82 earnings per share for the quarter, missing the consensus estimate of $2.00 by ($0.18). The business had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.30 billion. SAP had a return on equity of 17.07% and a net margin of 20.88%.SAP's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.50 earnings per share. On average, analysts predict that SAP SE will post 8.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SAP has been the topic of several analyst reports. BMO Capital Markets increased their target price on shares of SAP from $175.00 to $177.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Weiss Ratings upgraded shares of SAP from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, July 30th. Citigroup reaffirmed a "buy" rating on shares of SAP in a research note on Thursday, August 27th. Barclays reduced their target price on SAP from $255.00 to $242.00 and set an "overweight" rating on the stock in a report on Monday, July 27th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $265.00 target price on shares of SAP in a research note on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $264.83.

About SAP

SAP SE is a German enterprise software company headquartered in Walldorf, Germany. The company develops technology that helps organizations manage core business operations, including finance, procurement, supply chain, manufacturing, human resources, sales and customer relationships.

SAP's portfolio is centered on its cloud-based enterprise resource planning platform, SAP S/4HANA, along with the SAP Business Technology Platform. Its products and services also include SAP SuccessFactors for human resources, SAP Ariba for business-to-business procurement, SAP Concur for travel and expense management, and solutions for customer experience, data management, analytics and artificial intelligence.

SAP was founded in 1972 by five former IBM employees and has grown into a global provider of business software.

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