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

SAP SE (NYSE:SAP - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $260.73 and last traded at $260.37, with a volume of 40718 shares changing hands. The stock had previously closed at $253.50.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Kepler Capital Markets raised SAP from a "hold" rating to a "buy" rating in a research note on Wednesday. JMP Securities increased their price target on SAP from $245.00 to $300.00 and gave the company a "market outperform" rating in a research report on Tuesday, October 22nd. TD Cowen upgraded SAP from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $240.00 to $305.00 in a report on Friday. Barclays upped their price objective on shares of SAP from $252.00 to $275.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets lifted their target price on shares of SAP from $248.00 to $265.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 22nd. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SAP presently has a consensus rating of "Buy" and an average target price of $263.17.

SAP Price Performance

The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.17. The stock has a 50-day simple moving average of $245.17 and a 200 day simple moving average of $227.47. The stock has a market capitalization of $322.77 billion, a price-to-earnings ratio of 105.09, a price-to-earnings-growth ratio of 3.56 and a beta of 1.22.

SAP (NYSE:SAP - Get Free Report) last posted its quarterly earnings results on Monday, October 21st. The software maker reported $1.23 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.08). The company had revenue of $8.47 billion for the quarter, compared to analyst estimates of $9.25 billion. SAP had a return on equity of 11.44% and a net margin of 8.15%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.20 earnings per share. On average, equities research analysts forecast that SAP SE will post 4.66 EPS for the current fiscal year.

Hedge Funds Weigh In On SAP

Several institutional investors and hedge funds have recently modified their holdings of SAP. Godsey & Gibb Inc. acquired a new stake in SAP during the third quarter valued at $25,000. Albion Financial Group UT raised its stake in shares of SAP by 122.4% during the 4th quarter. Albion Financial Group UT now owns 129 shares of the software maker's stock worth $32,000 after purchasing an additional 71 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of SAP during the 3rd quarter valued at about $42,000. Financial Management Professionals Inc. grew its stake in shares of SAP by 104.0% in the 4th quarter. Financial Management Professionals Inc. now owns 202 shares of the software maker's stock valued at $50,000 after buying an additional 103 shares in the last quarter. Finally, Prospera Private Wealth LLC bought a new stake in shares of SAP in the 3rd quarter valued at approximately $47,000.

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.