Benson Investment Management Company Inc. maintained its stake in SAP SE (NYSE:SAP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,343 shares of the software maker’s stock at the end of the second quarter. Benson Investment Management Company Inc.’s holdings in SAP SE were worth $245,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in SAP. Morgan Stanley increased its position in shares of SAP SE by 101.2% in the first quarter. Morgan Stanley now owns 1,659,689 shares of the software maker’s stock worth $162,933,000 after buying an additional 834,600 shares during the last quarter. Bank of America Corp DE increased its position in shares of SAP SE by 37.3% in the first quarter. Bank of America Corp DE now owns 2,565,236 shares of the software maker’s stock worth $251,830,000 after buying an additional 696,447 shares during the last quarter. Harding Loevner LP increased its position in shares of SAP SE by 7.0% in the first quarter. Harding Loevner LP now owns 5,531,732 shares of the software maker’s stock worth $543,050,000 after buying an additional 362,267 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of SAP SE by 42.9% in the first quarter. Russell Investments Group Ltd. now owns 943,717 shares of the software maker’s stock worth $92,649,000 after buying an additional 283,230 shares during the last quarter. Finally, Karp Capital Management Corp bought a new position in shares of SAP SE during the first quarter worth about $25,030,000. 3.76% of the stock is owned by institutional investors.
SAP SE (NYSE:SAP) traded up 0.18% during trading on Friday, hitting $107.36. The stock had a trading volume of 515,166 shares. The stock’s 50-day moving average is $105.10 and its 200 day moving average is $99.70. SAP SE has a one year low of $80.93 and a one year high of $108.72. The firm has a market cap of $128.71 billion, a price-to-earnings ratio of 32.17 and a beta of 1.12.
SAP SE announced that its Board of Directors 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. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
SAP has been the subject of a number of analyst reports. DZ Bank AG reissued a “buy” rating on shares of SAP SE in a report on Wednesday, June 28th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of SAP SE in a report on Monday, June 26th. Stifel Nicolaus downgraded SAP SE from a “hold” rating to a “sell” rating and set a $102.13 target price for the company. in a research note on Wednesday, April 26th. William Blair reduced their target price on SAP SE from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, April 17th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $110.00 target price (up from $105.00) on shares of SAP SE in a research note on Saturday, April 29th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $95.69.
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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