CIBC Asset Management Inc Boosts Holdings in SAP SE (NYSE:SAP)

CIBC Asset Management Inc lifted its holdings in shares of SAP SE (NYSE:SAP - Free Report) by 9.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,247 shares of the software maker's stock after purchasing an additional 4,484 shares during the period. CIBC Asset Management Inc's holdings in SAP were worth $11,425,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Avantax Advisory Services Inc. bought a new stake in SAP in the 1st quarter valued at about $270,000. Blair William & Co. IL bought a new stake in SAP in the 1st quarter valued at about $247,000. Tocqueville Asset Management L.P. raised its stake in SAP by 17.8% in the 1st quarter. Tocqueville Asset Management L.P. now owns 2,760 shares of the software maker's stock valued at $538,000 after acquiring an additional 417 shares during the period. First Foundation Advisors bought a new stake in SAP in the 1st quarter valued at about $96,000. Finally, TIAA Trust National Association bought a new stake in SAP in the 1st quarter valued at about $209,000.

SAP Trading Down 1.3 %

Shares of SAP stock traded down $3.09 on Friday, hitting $228.31. The stock had a trading volume of 824,373 shares, compared to its average volume of 1,018,232. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.17. SAP SE has a one year low of $148.10 and a one year high of $243.01. The stock has a market cap of $280.48 billion, a price-to-earnings ratio of 91.32, a PEG ratio of 4.41 and a beta of 1.25. The stock's 50-day simple moving average is $228.97 and its two-hundred day simple moving average is $210.45.

SAP (NYSE:SAP - Get Free Report) last announced its quarterly earnings results on Monday, October 21st. The software maker reported $1.23 EPS for the quarter, missing analysts' consensus estimates of $1.31 by ($0.08). SAP had a return on equity of 11.44% and a net margin of 8.15%. The business had revenue of $8.47 billion during the quarter, compared to analysts' expectations of $9.25 billion. During the same period in the previous year, the business earned $1.20 EPS. The business's revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts predict that SAP SE will post 4.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SAP shares. BMO Capital Markets upped their price target on SAP from $248.00 to $265.00 and gave the company an "outperform" rating in a research report on Tuesday, October 22nd. Barclays upped their price target on SAP from $252.00 to $275.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. JMP Securities upped 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. Argus raised SAP from a "hold" rating to a "buy" rating in a report on Wednesday, July 31st. Finally, TD Cowen boosted their price objective on SAP from $234.00 to $240.00 and gave the stock a "hold" rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $252.33.

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.