SAP SE (NYSE:SAP) had its target price hoisted by Royal Bank Of Canada from $102.00 to $106.00 in a report published on Tuesday, July 18th, MarketBeat.com reports. The brokerage currently has a sector perform rating on the software maker’s stock.
Several other research firms have also commented on SAP. UBS AG lowered shares of SAP SE from a buy rating to a neutral rating in a report on Monday, March 27th. Stifel Nicolaus reaffirmed a sell rating and issued a $75.00 price target on shares of SAP SE in a report on Friday, July 14th. Zacks Investment Research upgraded shares of SAP SE from a sell rating to a hold rating in a research report on Monday, April 3rd. Oppenheimer Holdings, Inc. reiterated an outperform rating and issued a $115.00 price objective (up previously from $107.00) on shares of SAP SE in a research report on Friday, June 9th. Finally, DZ Bank AG reiterated a buy rating on shares of SAP SE in a research report on Friday, March 31st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $95.69.
SAP SE (NYSE:SAP) traded up 0.93% during trading on Tuesday, hitting $106.06. The stock had a trading volume of 858,897 shares. The firm has a 50 day moving average of $105.01 and a 200-day moving average of $99.29. The stock has a market cap of $127.16 billion, a price-to-earnings ratio of 31.78 and a beta of 1.12. SAP SE has a 12 month low of $80.93 and a 12 month high of $108.72.
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SAP SE announced that its board has approved a share buyback plan on Thursday, July 20th that allows the company to repurchase shares. This repurchase authorization allows the software maker to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in SAP SE by 10.3% in the fourth quarter. State Street Corp now owns 195,109 shares of the software maker’s stock valued at $16,863,000 after buying an additional 18,256 shares during the period. Lincluden Management Ltd. boosted its stake in SAP SE by 12.7% in the fourth quarter. Lincluden Management Ltd. now owns 105,123 shares of the software maker’s stock valued at $9,086,000 after buying an additional 11,840 shares during the period. HighPoint Advisor Group LLC boosted its stake in SAP SE by 3.0% in the fourth quarter. HighPoint Advisor Group LLC now owns 3,057 shares of the software maker’s stock valued at $289,000 after buying an additional 88 shares during the period. Cardinal Capital Management Inc. boosted its stake in SAP SE by 5.4% in the first quarter. Cardinal Capital Management Inc. now owns 47,630 shares of the software maker’s stock valued at $4,676,000 after buying an additional 2,460 shares during the period. Finally, Harding Loevner LP boosted its stake in SAP SE by 7.0% in the first quarter. Harding Loevner LP now owns 5,531,732 shares of the software maker’s stock valued at $543,050,000 after buying an additional 362,267 shares during the period. Institutional investors own 3.75% of the company’s stock.
About SAP SE
SAP SE (SAP) is a software and service provider. The Company offers enterprise application software. The Company operates through two segments: Applications, Technology & Services segment, and the SAP Business Network segment. The Applications, Technology & Services segment is engaged in the sale of software licenses, subscriptions to its cloud applications, and related services (primarily support services and various professional services, and support services, as well as implementation services of its software products and education services on the use of its products).
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