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SAP (NYSE:SAP) Hits New 1-Year High - What's Next?

SAP logo with Computer and Technology background

SAP SE (NYSE:SAP - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $311.58 and last traded at $310.28, with a volume of 313740 shares changing hands. The stock had previously closed at $308.76.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SAP. BMO Capital Markets boosted their price objective on shares of SAP from $320.00 to $330.00 and gave the stock an "outperform" rating in a research report on Friday, May 23rd. Jefferies Financial Group restated a "buy" rating on shares of SAP in a research note on Friday, May 2nd. Argus reaffirmed a "buy" rating and issued a $320.00 target price on shares of SAP in a research report on Tuesday, April 29th. Piper Sandler assumed coverage on SAP in a research report on Tuesday, June 17th. They set an "overweight" rating for the company. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $330.00 price target on shares of SAP in a research report on Friday, May 23rd. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $271.83.

View Our Latest Analysis on SAP

SAP Trading Up 1.1%

The business has a 50 day moving average of $298.33 and a two-hundred day moving average of $278.33. The firm has a market cap of $383.53 billion, a P/E ratio of 59.81, a PEG ratio of 4.37 and a beta of 1.30. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15.

SAP (NYSE:SAP - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The software maker reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.12. The company had revenue of $10.35 billion for the quarter, compared to analyst estimates of $9.08 billion. SAP had a net margin of 16.33% and a return on equity of 13.66%. Analysts predict that SAP SE will post 6.55 earnings per share for the current year.

Hedge Funds Weigh In On SAP

A number of large investors have recently made changes to their positions in SAP. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of SAP by 152.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 414,154 shares of the software maker's stock valued at $101,969,000 after buying an additional 249,824 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of SAP by 164.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,681 shares of the software maker's stock worth $660,000 after purchasing an additional 1,667 shares in the last quarter. Deutsche Bank AG increased its position in shares of SAP by 41.3% in the fourth quarter. Deutsche Bank AG now owns 4,773 shares of the software maker's stock worth $1,175,000 after purchasing an additional 1,396 shares during the period. National Bank of Canada FI lifted its position in SAP by 3.3% during the fourth quarter. National Bank of Canada FI now owns 75,692 shares of the software maker's stock worth $18,636,000 after purchasing an additional 2,445 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in SAP by 473.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,081 shares of the software maker's stock worth $502,000 after buying an additional 1,718 shares in the last quarter.

About SAP

(Get Free Report)

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.

Further Reading

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.

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