SAP (NYSE:SAP) Cut to “Hold” at Erste Group Bank

Erste Group Bank cut shares of SAP (NYSE:SAP) from a buy rating to a hold rating in a research report report published on Thursday, Marketbeat.com reports.

Several other analysts have also recently weighed in on the company. Morgan Stanley reaffirmed an “overweight” rating on shares of SAP in a research report on Tuesday, August 5th. BMO Capital Markets lifted their price objective on SAP from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Friday, May 23rd. Piper Sandler began coverage on SAP in a research report on Tuesday, June 17th. They set an “overweight” rating on the stock. Wells Fargo & Company began coverage on SAP in a research report on Tuesday, May 20th. They set an “overweight” rating on the stock. Finally, Argus reaffirmed a “buy” rating and set a $320.00 price objective on shares of SAP in a research report on Tuesday, April 29th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $281.67.

SAP Stock Down 0.4%

NYSE SAP opened at $277.72 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $341.18 billion, a PE ratio of 45.98, a PEG ratio of 4.00 and a beta of 1.27. SAP has a 1 year low of $210.38 and a 1 year high of $313.28. The business’s 50-day moving average is $295.20 and its 200 day moving average is $285.17.

SAP (NYSE:SAP) last posted its earnings results on Tuesday, July 22nd. The software maker reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.07. The company had revenue of $10.58 billion for the quarter, compared to analysts’ expectations of $9.10 billion. SAP had a return on equity of 14.84% and a net margin of 18.26%. SAP’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the firm earned $1.10 earnings per share. Sell-side analysts forecast that SAP will post 6.55 earnings per share for the current year.

Hedge Funds Weigh In On SAP

Large investors have recently made changes to their positions in the business. Deutsche Bank AG lifted its holdings in shares of SAP by 41.3% during the fourth quarter. Deutsche Bank AG now owns 4,773 shares of the software maker’s stock valued at $1,175,000 after purchasing an additional 1,396 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in SAP in the 1st quarter worth approximately $1,580,000. Hennion & Walsh Asset Management Inc. purchased a new position in SAP in the 1st quarter worth approximately $790,000. Alliancebernstein L.P. raised its holdings in SAP by 15.7% in the 4th quarter. Alliancebernstein L.P. now owns 1,271 shares of the software maker’s stock worth $313,000 after acquiring an additional 172 shares during the last quarter. Finally, TD Asset Management Inc raised its holdings in SAP by 3.8% in the 1st quarter. TD Asset Management Inc now owns 1,662,809 shares of the software maker’s stock worth $446,364,000 after acquiring an additional 60,261 shares during the last quarter.

SAP Company Profile

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.