Wealthstar Advisors LLC Acquires New Position in SAP SE $SAP

Key Points

• Wealthstar Advisors LLC has acquired a new stake in SAP SE, purchasing 4,564 shares valued at approximately $1.39 million.
• SAP reported earnings of $1.70 per share for the last quarter, exceeding expectations and showing a year-over-year revenue growth of 8.9%.
• Equities analysts are anticipating growth for SAP, with JMP Securities increasing their target price from $330 to $375 and maintaining a "market outperform" rating.

Wealthstar Advisors LLC acquired a new stake in shares of SAP SE (NYSE:SAP - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,564 shares of the software maker's stock, valued at approximately $1,388,000.

Several other large investors have also modified their holdings of SAP. TD Asset Management Inc grew its position in shares of SAP by 3.8% in the 1st quarter. TD Asset Management Inc now owns 1,662,809 shares of the software maker's stock worth $446,364,000 after buying an additional 60,261 shares during the last quarter. Northern Trust Corp grew its position in SAP by 2.8% during the 1st quarter. Northern Trust Corp now owns 1,512,724 shares of the software maker's stock worth $406,076,000 after purchasing an additional 40,926 shares during the last quarter. Goldman Sachs Group Inc. grew its position in SAP by 6.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,318,908 shares of the software maker's stock worth $354,048,000 after purchasing an additional 80,164 shares during the last quarter. WCM Investment Management LLC grew its position in SAP by 5.5% during the 1st quarter. WCM Investment Management LLC now owns 1,229,086 shares of the software maker's stock worth $329,395,000 after purchasing an additional 63,538 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of SAP by 2.6% in the 1st quarter. BNP Paribas Financial Markets now owns 366,871 shares of the software maker's stock valued at $98,483,000 after acquiring an additional 9,411 shares during the last quarter.

SAP Trading Down 0.5%

Shares of SAP stock opened at $275.76 on Friday. The firm has a market cap of $338.77 billion, a PE ratio of 45.66, a price-to-earnings-growth ratio of 3.99 and a beta of 1.28. SAP SE has a 1-year low of $223.70 and a 1-year high of $313.28. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.03 and a quick ratio of 1.03. The company has a 50-day moving average of $271.98 and a two-hundred day moving average of $282.39.

SAP (NYSE:SAP - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $10.58 billion for the quarter, compared to analysts' expectations 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 quarter in the prior year, the company earned $1.10 earnings per share. On average, analysts predict that SAP SE will post 6.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. JMP Securities boosted their target price on shares of SAP from $330.00 to $375.00 and gave the company a "market outperform" rating in a research note on Wednesday, July 23rd. Weiss Ratings restated a "buy (b)" rating on shares of SAP in a research report on Wednesday. Erste Group Bank lowered shares of SAP from a "buy" rating to a "hold" rating in a report on Thursday, August 14th. Morgan Stanley reissued an "overweight" rating on shares of SAP in a report on Tuesday, August 5th. Finally, Wall Street Zen lowered shares of SAP from a "buy" rating to a "hold" rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus 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.

Want to see what other hedge funds are holding SAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SAP SE (NYSE:SAP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.