Summit Wealth Group LLC Co. bought a new position in shares of SAP SE (NYSE:SAP – Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,414 shares of the software maker’s stock, valued at approximately $503,000.
Other large investors have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC raised its holdings in SAP by 59.7% during the first quarter. Sequoia Financial Advisors LLC now owns 18,091 shares of the software maker’s stock worth $3,097,000 after purchasing an additional 6,763 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of SAP by 28.8% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 221,642 shares of the software maker’s stock valued at $46,208,000 after acquiring an additional 49,502 shares during the period. ABC Arbitrage SA purchased a new position in shares of SAP during the first quarter worth approximately $2,306,000. QRG Capital Management Inc. increased its holdings in shares of SAP by 12.0% in the 2nd quarter. QRG Capital Management Inc. now owns 68,368 shares of the software maker’s stock valued at $10,536,000 after acquiring an additional 7,315 shares during the period. Finally, Ruane Cunniff & Goldfarb L.P. raised its position in SAP by 1,532.8% in the 1st quarter. Ruane Cunniff & Goldfarb L.P. now owns 749,909 shares of the software maker’s stock valued at $128,392,000 after purchasing an additional 703,982 shares during the last quarter.
SAP Stock Performance
SAP stock opened at $239.89 on Thursday. SAP SE has a fifty-two week low of $144.97 and a fifty-two week high of $264.10. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $294.70 billion, a P/E ratio of 29.04, a PEG ratio of 2.78 and a beta of 1.11. The company has a 50-day simple moving average of $218.93 and a 200 day simple moving average of $192.35.
Wall Street Analyst Weigh In
SAP has been the topic of a number of analyst reports. Citigroup reiterated a “buy” rating on shares of SAP in a research report on Friday, October 23rd. TD Cowen reaffirmed a “buy” rating on shares of SAP in a report on Thursday, October 15th. Jefferies Financial Group reissued a “buy” rating on shares of SAP in a research note on Thursday, October 22nd. Weiss Ratings downgraded SAP from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. Finally, Barclays boosted their price objective on shares of SAP from $243.00 to $288.00 and gave the stock an “overweight” rating in a report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $258.83.
View Our Latest Stock Report on SAP
About SAP
SAP SE is a global enterprise software company headquartered in Walldorf, Germany. Founded in 1972 by five former IBM employees, SAP originally developed software to help businesses integrate accounting and operational data. The company has since become a major provider of cloud-based business applications and enterprise technology.
SAP’s portfolio includes enterprise resource planning software, including SAP S/4HANA Cloud, along with solutions for finance, procurement, supply chain management, human resources, customer experience and business analytics.
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