SAP (NYSE:SAP) Shares Gap Down - Here's What Happened

SAP SE (NYSE:SAP - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $309.80, but opened at $302.07. SAP shares last traded at $303.86, with a volume of 232,296 shares traded.

Analyst Upgrades and Downgrades

SAP has been the topic of a number of research analyst reports. Argus reaffirmed a "buy" rating and issued a $320.00 price target on shares of SAP in a research note on Tuesday, April 29th. BMO Capital Markets lifted their target price on SAP from $320.00 to $330.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. Wells Fargo & Company assumed coverage on SAP in a report on Tuesday, May 20th. They issued an "overweight" rating on the stock. JMP Securities reiterated a "market outperform" rating and issued a $330.00 price objective on shares of SAP in a report on Friday, May 23rd. Finally, Jefferies Financial Group restated a "buy" rating on shares of SAP in a report on Friday, May 2nd. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, SAP currently has a consensus rating of "Buy" and an average price target of $271.83.

SAP Trading Up 0.9%

The stock has a market capitalization of $370.74 billion, a price-to-earnings ratio of 105.15, a PEG ratio of 4.71 and a beta of 1.32. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.10 and a current ratio of 1.12. The business has a 50-day moving average of $284.38 and a 200-day moving average of $271.37.

SAP (NYSE:SAP - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The software maker reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.12. The company had revenue of $10.35 billion during the quarter, compared to analysts' expectations of $9.08 billion. SAP had a return on equity of 12.18% and a net margin of 9.17%. As a group, research analysts forecast that SAP SE will post 6.55 EPS for the current year.

SAP Increases Dividend

The business also recently announced an annual dividend, which was paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th were given a dividend of $2.5423 per share. This is a positive change from SAP's previous annual dividend of $2.39. This represents a yield of 0.8%. The ex-dividend date was Tuesday, May 13th. SAP's dividend payout ratio is presently 35.25%.

Hedge Funds Weigh In On SAP

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Street Partners LLC raised its holdings in SAP by 1.0% during the fourth quarter. Principal Street Partners LLC now owns 3,688 shares of the software maker's stock worth $908,000 after purchasing an additional 35 shares during the last quarter. Independent Advisor Alliance grew its holdings in shares of SAP by 0.4% during the 1st quarter. Independent Advisor Alliance now owns 9,957 shares of the software maker's stock worth $2,673,000 after purchasing an additional 35 shares during the period. Cordatus Wealth Management LLC grew its holdings in shares of SAP by 1.1% during the 1st quarter. Cordatus Wealth Management LLC now owns 3,310 shares of the software maker's stock worth $889,000 after purchasing an additional 37 shares during the period. Oppenheimer & Co. Inc. grew its holdings in shares of SAP by 4.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 955 shares of the software maker's stock worth $235,000 after purchasing an additional 38 shares during the period. Finally, Alaethes Wealth LLC boosted its holdings in SAP by 0.4% in the 4th quarter. Alaethes Wealth LLC now owns 11,087 shares of the software maker's stock worth $2,730,000 after acquiring an additional 39 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.