Janney Montgomery Scott LLC raised its stake in SAP SE (NYSE:SAP) by 13.4% during the second quarter, Holdings Channel reports. The fund owned 13,023 shares of the software maker’s stock after buying an additional 1,543 shares during the period. Janney Montgomery Scott LLC’s holdings in SAP SE were worth $1,363,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of SAP. Fisher Asset Management LLC increased its position in SAP SE by 3.8% in the second quarter. Fisher Asset Management LLC now owns 6,462,281 shares of the software maker’s stock valued at $676,407,000 after buying an additional 238,908 shares during the last quarter. Bank of America Corp DE increased its position in 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 valued at $251,830,000 after buying an additional 696,447 shares during the last quarter. Sustainable Growth Advisers LP increased its position in SAP SE by 9.1% in the first quarter. Sustainable Growth Advisers LP now owns 2,356,371 shares of the software maker’s stock valued at $231,302,000 after buying an additional 195,579 shares during the last quarter. Morgan Stanley increased its position in SAP SE by 101.2% in the first quarter. Morgan Stanley now owns 1,659,689 shares of the software maker’s stock valued at $162,933,000 after buying an additional 834,600 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in SAP SE by 8.4% in the second quarter. Russell Investments Group Ltd. now owns 1,023,458 shares of the software maker’s stock valued at $107,133,000 after buying an additional 79,741 shares during the last quarter. Institutional investors and hedge funds own 3.77% of the company’s stock.
Shares of SAP SE (NYSE SAP) opened at 103.81 on Friday. The stock has a market cap of $124.46 billion, a price-to-earnings ratio of 30.62 and a beta of 1.12. SAP SE has a 12-month low of $80.93 and a 12-month high of $108.72. The company’s 50-day moving average price is $105.23 and its 200 day moving average price is $100.32.
SAP SE declared that its board has authorized a share buyback program on Thursday, July 20th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the software maker to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
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Several research analysts have weighed in on SAP shares. Stifel Nicolaus downgraded SAP SE from a “hold” rating to a “sell” rating and set a $102.13 price target for the company. in a research note on Wednesday, April 26th. Royal Bank Of Canada restated a “neutral” rating on shares of SAP SE in a research note on Thursday, April 13th. BMO Capital Markets upped their price target on SAP SE from $105.00 to $110.00 and gave the stock a “market perform” rating in a research note on Friday, July 21st. William Blair restated a “market perform” rating on shares of SAP SE in a research note on Friday, April 14th. Finally, DZ Bank AG restated a “buy” rating on shares of SAP SE in a research note on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus 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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