SAP (NYSE:SAP) Sets New 1-Year High - Here's What Happened

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

Analysts Set New Price Targets

Several brokerages have issued reports on SAP. JMP Securities reiterated a "market outperform" rating and set a $330.00 target price on shares of SAP in a report on Friday, May 23rd. Jefferies Financial Group reissued a "buy" rating on shares of SAP in a report on Friday, May 2nd. Argus reaffirmed a "buy" rating and set a $320.00 target price on shares of SAP in a research report on Tuesday, April 29th. BMO Capital Markets lifted their price target on SAP from $320.00 to $330.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Finally, Piper Sandler initiated coverage on SAP in a research report on Tuesday, June 17th. They set an "overweight" rating on the stock. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $271.83.

SAP Stock Performance

The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $376.37 billion, a PE ratio of 58.69, a PEG ratio of 4.43 and a beta of 1.30. The business has a 50 day simple moving average of $298.74 and a 200 day simple moving average of $278.56.

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

Hedge Funds Weigh In On SAP

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TD Asset Management Inc increased its holdings in shares of SAP by 3.8% in the first quarter. TD Asset Management Inc now owns 1,662,809 shares of the software maker's stock valued at $446,364,000 after purchasing an additional 60,261 shares during the period. TD Asset Management Inc. increased its holdings in SAP by 125.0% in the 4th quarter. TD Asset Management Inc. now owns 1,602,548 shares of the software maker's stock worth $394,563,000 after buying an additional 890,157 shares during the period. Northern Trust Corp raised 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 buying an additional 40,926 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of SAP by 145.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,346,506 shares of the software maker's stock valued at $331,523,000 after acquiring an additional 798,037 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of SAP by 6.5% in the first 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.

SAP Company 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.