Drive Wealth Management LLC Increases Stock Position in SAP SE (NYSE:SAP)

Drive Wealth Management LLC raised its stake in shares of SAP SE (NYSE:SAP) by 2.9% in the third quarter, Holdings Channel.com reports. The fund owned 2,172 shares of the software maker’s stock after purchasing an additional 61 shares during the period. Drive Wealth Management LLC’s holdings in SAP were worth $498,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Godsey & Gibb Inc. purchased a new position in shares of SAP during the 3rd quarter worth approximately $25,000. LRI Investments LLC acquired a new position in SAP during the first quarter worth $25,000. POM Investment Strategies LLC boosted its position in shares of SAP by 892.3% during the second quarter. POM Investment Strategies LLC now owns 129 shares of the software maker’s stock worth $26,000 after buying an additional 116 shares during the period. Crewe Advisors LLC grew its stake in shares of SAP by 1,270.0% in the second quarter. Crewe Advisors LLC now owns 137 shares of the software maker’s stock valued at $28,000 after buying an additional 127 shares in the last quarter. Finally, Atticus Wealth Management LLC purchased a new stake in shares of SAP in the 2nd quarter valued at $40,000.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SAP. JMP Securities lifted their target price on SAP from $245.00 to $300.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 22nd. Barclays raised 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. TD Cowen upped their target price on shares of SAP from $234.00 to $240.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. BMO Capital Markets increased their target price 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, Argus upgraded shares of SAP from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $252.33.

SAP Price Performance

Shares of SAP opened at $228.31 on Monday. The firm has a market capitalization 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 firm’s fifty day simple moving average is $228.97 and its 200-day simple moving average is $210.67. SAP SE has a twelve month low of $148.10 and a twelve month high of $243.01. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.17.

SAP (NYSE:SAP) last posted its quarterly earnings results on Monday, October 21st. The software maker reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.08). The business had revenue of $8.47 billion during the quarter, compared to analyst estimates of $9.25 billion. SAP had a net margin of 8.15% and a return on equity of 11.44%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.20 earnings per share. Equities analysts forecast that SAP SE will post 4.85 EPS for the current fiscal year.

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.