SAP (NYSE:SAP) Issues Earnings Results, Beats Estimates By $0.08 EPS

SAP (NYSE:SAP - Get Free Report) released its quarterly earnings results on Tuesday. The software maker reported $1.70 EPS for the quarter, topping the consensus estimate of $1.62 by $0.08, Zacks reports. SAP had a return on equity of 13.66% and a net margin of 16.33%.

SAP Trading Down 0.2%

Shares of NYSE:SAP traded down $0.63 during midday trading on Tuesday, reaching $306.64. The company's stock had a trading volume of 2,030,364 shares, compared to its average volume of 1,105,651. The firm has a market capitalization of $376.71 billion, a price-to-earnings ratio of 58.74, a PEG ratio of 4.33 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a 50 day moving average price of $299.81 and a two-hundred day moving average price of $281.66. SAP has a fifty-two week low of $194.93 and a fifty-two week high of $313.28.

Hedge Funds Weigh In On SAP

Several institutional investors have recently modified their holdings of SAP. Brighton Jones LLC raised its holdings in SAP by 91.1% in the 4th quarter. Brighton Jones LLC now owns 2,633 shares of the software maker's stock worth $648,000 after acquiring an additional 1,255 shares during the last quarter. AQR Capital Management LLC grew its position in shares of SAP by 49.0% during the 1st quarter. AQR Capital Management LLC now owns 16,309 shares of the software maker's stock valued at $4,378,000 after acquiring an additional 5,363 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of SAP during the 1st quarter valued at $2,681,000. Finally, Baird Financial Group Inc. bought a new position in SAP in the 1st quarter worth $242,000.

Wall Street Analyst Weigh In

SAP has been the subject of several research analyst reports. Wall Street Zen raised SAP from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. BMO Capital Markets raised their price objective on SAP from $320.00 to $330.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Argus restated a "buy" rating and issued a $320.00 price objective on shares of SAP in a report on Tuesday, April 29th. Piper Sandler began coverage on SAP in a report on Tuesday, June 17th. They set an "overweight" rating for the company. Finally, JMP Securities reiterated a "market outperform" rating and issued a $330.00 price target on shares of SAP in a research report on Friday, May 23rd. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $271.83.

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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