QRG Capital Management Inc. Grows Stock Holdings in SAP SE $SAP

QRG Capital Management Inc. lifted its holdings in SAP SE (NYSE:SAP) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 95,924 shares of the software maker’s stock after buying an additional 777 shares during the period. QRG Capital Management Inc.’s holdings in SAP were worth $29,170,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Contravisory Investment Management Inc. increased its stake in SAP by 3.2% during the second quarter. Contravisory Investment Management Inc. now owns 1,113 shares of the software maker’s stock worth $338,000 after acquiring an additional 34 shares during the last quarter. Independent Advisor Alliance increased its position 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 valued at $2,673,000 after purchasing an additional 35 shares during the last quarter. Cordatus Wealth Management LLC increased its position 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 valued at $889,000 after purchasing an additional 37 shares during the last quarter. Sage Rhino Capital LLC raised its holdings in SAP by 1.1% during the 2nd quarter. Sage Rhino Capital LLC now owns 3,438 shares of the software maker’s stock valued at $1,045,000 after buying an additional 37 shares during the period. Finally, LCM Capital Management Inc boosted its stake in SAP by 1.9% during the first quarter. LCM Capital Management Inc now owns 2,074 shares of the software maker’s stock worth $557,000 after buying an additional 39 shares during the period.

Analyst Ratings Changes

SAP has been the topic of several recent analyst reports. Morgan Stanley reissued an “overweight” rating on shares of SAP in a research note on Tuesday, August 5th. JMP Securities upped their price target on shares of SAP from $330.00 to $375.00 and gave the company a “market outperform” rating in a report on Wednesday, July 23rd. Erste Group Bank downgraded shares of SAP from a “buy” rating to a “hold” rating in a research note on Thursday, August 14th. Wall Street Zen cut SAP from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Piper Sandler assumed coverage on SAP in a research note on Tuesday, June 17th. They set an “overweight” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $281.67.

SAP Trading Down 0.5%

NYSE SAP opened at $270.48 on Friday. SAP SE has a 52 week low of $217.51 and a 52 week high of $313.28. The company has a 50 day moving average price of $272.89 and a 200 day moving average price of $282.33. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.15. The firm has a market cap of $332.29 billion, a PE ratio of 44.78, a price-to-earnings-growth ratio of 3.91 and a beta of 1.28.

SAP (NYSE:SAP) last released its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.07. The business had revenue of $10.58 billion for the quarter, compared to analyst estimates of $9.10 billion. SAP had a net margin of 18.26% and a return on equity of 14.84%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.10 earnings per share. As a group, sell-side analysts forecast that SAP SE will post 6.55 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.