Hardy Reed LLC Purchases New Shares in SAP SE (NYSE:SAP)

Hardy Reed LLC acquired a new position in shares of SAP SE (NYSE:SAP) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 950 shares of the software maker’s stock, valued at approximately $218,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC increased its position in SAP by 22.3% during the third quarter. FMR LLC now owns 10,246,279 shares of the software maker’s stock worth $2,347,422,000 after acquiring an additional 1,866,468 shares during the period. Raymond James & Associates increased its holdings in shares of SAP by 3.7% during the second quarter. Raymond James & Associates now owns 631,961 shares of the software maker’s stock worth $127,473,000 after purchasing an additional 22,438 shares during the period. Principal Financial Group Inc. raised its position in shares of SAP by 0.8% in the third quarter. Principal Financial Group Inc. now owns 611,572 shares of the software maker’s stock valued at $140,111,000 after buying an additional 4,775 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of SAP by 8.6% in the second quarter. NewEdge Advisors LLC now owns 197,976 shares of the software maker’s stock valued at $39,934,000 after buying an additional 15,604 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in SAP during the third quarter worth approximately $40,573,000.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SAP shares. Argus upgraded SAP from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Barclays upped their price objective on shares of SAP from $252.00 to $275.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. TD Cowen raised their target price on shares of SAP from $234.00 to $240.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. BMO Capital Markets upped their price target on shares of SAP from $248.00 to $265.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, JMP Securities lifted their price objective on shares of SAP from $245.00 to $300.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, SAP currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.33.

SAP Trading Up 0.5 %

Shares of SAP stock opened at $234.98 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $288.67 billion, a P/E ratio of 93.99, a P/E/G ratio of 4.49 and a beta of 1.25. SAP SE has a twelve month low of $148.38 and a twelve month high of $243.01. The stock’s fifty day simple moving average is $231.11 and its 200 day simple moving average is $213.00.

SAP (NYSE:SAP) last issued its quarterly earnings data on Monday, October 21st. The software maker reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.08). SAP had a net margin of 8.15% and a return on equity of 11.44%. The business had revenue of $8.47 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter last year, the business earned $1.20 EPS. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts predict that SAP SE will post 4.89 EPS for the current fiscal year.

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.