NewEdge Advisors LLC Has $36.55 Million Position in SAP SE $SAP

NewEdge Advisors LLC lifted its holdings in shares of SAP SE (NYSE:SAP) by 10.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 213,482 shares of the software maker’s stock after buying an additional 20,024 shares during the period. NewEdge Advisors LLC’s holdings in SAP were worth $36,550,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Binnacle Investments Inc boosted its position in SAP by 14.2% during the third quarter. Binnacle Investments Inc now owns 338 shares of the software maker’s stock valued at $90,000 after purchasing an additional 42 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of SAP by 1.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 4,495 shares of the software maker’s stock worth $1,355,000 after purchasing an additional 43 shares during the last quarter. Modera Wealth Management LLC increased its position in shares of SAP by 1.2% during the 4th quarter. Modera Wealth Management LLC now owns 3,912 shares of the software maker’s stock worth $950,000 after purchasing an additional 48 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of SAP by 19.4% during the 3rd quarter. Larson Financial Group LLC now owns 308 shares of the software maker’s stock worth $82,000 after purchasing an additional 50 shares in the last quarter. Finally, Arete Wealth Advisors LLC raised its stake in shares of SAP by 4.5% during the 4th quarter. Arete Wealth Advisors LLC now owns 1,332 shares of the software maker’s stock worth $324,000 after purchasing an additional 57 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. HSBC raised shares of SAP from a “hold” rating to a “buy” rating in a research note on Wednesday, April 22nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $265.00 price target on shares of SAP in a research note on Wednesday, June 10th. Jefferies Financial Group downgraded shares of SAP from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 24th. Weiss Ratings upgraded shares of SAP from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Finally, BMO Capital Markets upped their target price on shares of SAP from $175.00 to $177.00 and gave the company an “outperform” rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $264.83.

SAP Stock Up 1.1%

SAP stock opened at $199.41 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $244.98 billion, a PE ratio of 25.05, a PEG ratio of 2.33 and a beta of 1.12. SAP SE has a 1-year low of $144.97 and a 1-year high of $299.48. The business’s 50 day simple moving average is $167.55 and its 200 day simple moving average is $180.59.

SAP Profile

SAP SE is a global enterprise software company headquartered in Walldorf, Germany. Founded in 1972 by five former IBM engineers, the company’s name is an acronym for Systeme, Anwendungen und Produkte in der Datenverarbeitung (Systems, Applications & Products in Data Processing). SAP develops and sells software and services that help organizations manage business processes across finance, human resources, procurement, manufacturing, supply chain and customer relationships.

SAP’s product portfolio spans on?premises and cloud offerings, anchored by its enterprise resource planning (ERP) solutions such as SAP S/4HANA and the SAP HANA in?memory database and platform.