SAP SE (NYSE:SAP) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in SAP SE (NYSE:SAPFree Report) by 0.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 611,572 shares of the software maker’s stock after acquiring an additional 4,775 shares during the period. Principal Financial Group Inc.’s holdings in SAP were worth $140,111,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Holocene Advisors LP purchased a new position in SAP during the 3rd quarter valued at about $10,869,000. Benjamin Edwards Inc. boosted its stake in shares of SAP by 1,496.4% in the third quarter. Benjamin Edwards Inc. now owns 8,940 shares of the software maker’s stock valued at $2,048,000 after purchasing an additional 8,380 shares during the period. Creative Planning grew its holdings in shares of SAP by 18.0% in the third quarter. Creative Planning now owns 95,434 shares of the software maker’s stock valued at $21,864,000 after purchasing an additional 14,546 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in SAP by 644.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 164,330 shares of the software maker’s stock worth $37,648,000 after buying an additional 142,270 shares during the period. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in SAP during the 3rd quarter worth approximately $3,780,000.

SAP Stock Up 0.9 %

Shares of NYSE SAP opened at $247.90 on Friday. SAP SE has a 1 year low of $148.38 and a 1 year high of $256.13. The company has a market capitalization of $304.55 billion, a price-to-earnings ratio of 99.16, a price-to-earnings-growth ratio of 4.94 and a beta of 1.23. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.10 and a quick ratio of 1.10. The business has a 50-day moving average of $238.81 and a two-hundred day moving average of $219.74.

SAP (NYSE:SAPGet Free Report) last posted its earnings results on Monday, October 21st. The software maker reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.08). The business had revenue of $8.47 billion for the quarter, compared to analysts’ expectations of $9.25 billion. SAP had a return on equity of 11.44% and a net margin of 8.15%. SAP’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.20 EPS. On average, analysts forecast that SAP SE will post 4.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on SAP shares. Barclays boosted their price target on shares of SAP from $252.00 to $275.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. JMP Securities upped their price target on SAP from $245.00 to $300.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 22nd. BMO Capital Markets increased 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. Finally, TD Cowen boosted their price objective on SAP from $234.00 to $240.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.33.

Read Our Latest Stock Report on SAP

SAP Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for SAP (NYSE:SAP)

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