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

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.

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

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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