Thrivent Financial for Lutherans Grows Position in SAP SE $SAP

Thrivent Financial for Lutherans grew its holdings in shares of SAP SE (NYSE:SAP) by 9,269.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 421,173 shares of the software maker’s stock after buying an additional 416,678 shares during the period. Thrivent Financial for Lutherans’ holdings in SAP were worth $112,542,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Fisher Asset Management LLC boosted its holdings in SAP by 9.0% in the second quarter. Fisher Asset Management LLC now owns 14,157,321 shares of the software maker’s stock worth $4,305,242,000 after acquiring an additional 1,163,616 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of SAP by 58.1% during the second quarter. Bank of America Corp DE now owns 2,650,418 shares of the software maker’s stock valued at $805,992,000 after purchasing an additional 973,779 shares during the last quarter. Trivest Advisors Ltd purchased a new stake in SAP during the 2nd quarter valued at $52,305,000. Jennison Associates LLC lifted its holdings in SAP by 195.0% in the second quarter. Jennison Associates LLC now owns 221,349 shares of the software maker’s stock valued at $67,312,000 after acquiring an additional 146,325 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of SAP by 282.0% in the 2nd quarter. Alliancebernstein L.P. now owns 124,322 shares of the software maker’s stock worth $37,806,000 after purchasing an additional 91,781 shares during the period.

Key SAP News

Here are the key news stories impacting SAP this week:

• Positive Sentiment: SAP announced a new share repurchase program of up to €10 billion, which supports capital return and offsets some downward pressure. SAP Quarterly Statement Q4 2025
• Positive Sentiment: Q4 results beat on EPS and met revenue expectations; non‑IFRS metrics and cloud revenue showed year‑over‑year gains, indicating underlying profitability and demand. SAP Q4 results (MarketBeat)
• Neutral Sentiment: SAP reported strong cloud bookings and a record backlog in absolute terms, but the market is focused on growth rates and composition rather than headline backlog size. That nuance left investors uncertain. SAP cloud bookings jump 30% (Investing.com)
• Negative Sentiment: The primary catalyst for the selloff was a slower‑than‑expected increase in the cloud contract backlog and conservative 2026 commentary — investors punished the stock with its largest one‑day drop since 2020. What Went Wrong With SAP Stock? (Forbes)
• Negative Sentiment: Sector peers’ results (and AI‑era competition) amplified fears that AI incumbents and niche cloud players could pressure SAP’s growth, contributing to broader software stock weakness. US software stocks slide after SAP, ServiceNow results (Reuters)
• Negative Sentiment: Negative headlines compounded the sentiment: Siemens briefly overtook SAP as Germany’s most valuable company after the selloff, and SAP faced an analyst downgrade — visible signals of waning investor confidence. Siemens overtakes SAP (Seeking Alpha)
• Negative Sentiment: Management dismissed three executives over alleged stolen trade secrets, adding governance/legal uncertainty to near‑term headlines. Stolen trade secrets / executive dismissals (Heise)

Analyst Ratings Changes

SAP has been the subject of several analyst reports. KeyCorp restated an “overweight” rating on shares of SAP in a research note on Thursday, October 23rd. Morgan Stanley reaffirmed an “overweight” rating on shares of SAP in a report on Friday, October 31st. Citigroup lowered SAP from a “buy” rating to a “hold” rating in a research report on Friday. Jefferies Financial Group reissued a “buy” rating on shares of SAP in a report on Monday, October 27th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of SAP in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $322.00.

SAP Stock Performance

Shares of NYSE:SAP opened at $201.09 on Friday. The firm’s 50 day simple moving average is $239.43 and its 200-day simple moving average is $259.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.10 and a current ratio of 1.11. SAP SE has a one year low of $195.12 and a one year high of $313.28. The firm has a market cap of $245.96 billion, a PE ratio of 28.52, a price-to-earnings-growth ratio of 2.36 and a beta of 1.18.

SAP Company 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.