Cidel Asset Management Inc. Purchases 12,268 Shares of SAP SE $SAP

Cidel Asset Management Inc. raised its position in shares of SAP SE (NYSE:SAP) by 9.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 139,273 shares of the software maker’s stock after purchasing an additional 12,268 shares during the quarter. SAP accounts for about 2.1% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 15th largest position. Cidel Asset Management Inc.’s holdings in SAP were worth $37,215,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Fisher Asset Management LLC grew its position 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 increased its stake in SAP by 58.1% in the second quarter. Bank of America Corp DE now owns 2,650,418 shares of the software maker’s stock worth $805,992,000 after purchasing an additional 973,779 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of SAP by 7.8% in the second quarter. JPMorgan Chase & Co. now owns 1,087,751 shares of the software maker’s stock worth $330,786,000 after purchasing an additional 78,306 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in SAP by 9,269.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 421,173 shares of the software maker’s stock worth $112,542,000 after buying an additional 416,678 shares during the period. Finally, Sands Capital Management LLC lifted its holdings in SAP by 29.8% during the 2nd quarter. Sands Capital Management LLC now owns 289,386 shares of the software maker’s stock valued at $88,002,000 after buying an additional 66,354 shares in the last quarter.

SAP Price Performance

NYSE:SAP opened at $204.65 on Friday. SAP SE has a 12-month low of $189.22 and a 12-month high of $313.28. The company’s 50-day moving average is $231.83 and its two-hundred day moving average is $253.44. The firm has a market cap of $251.41 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 2.27 and a beta of 1.17. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 0.13.

SAP (NYSE:SAP) last posted its quarterly earnings data on Thursday, January 29th. The software maker reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.13. SAP had a net margin of 19.92% and a return on equity of 16.52%. The company had revenue of $11.36 billion during the quarter, compared to the consensus estimate of $9.77 billion. During the same quarter in the prior year, the company posted $1.40 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Research analysts expect that SAP SE will post 6.55 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Wall Street Zen cut SAP from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Piper Sandler started coverage on shares of SAP in a research note on Tuesday, February 3rd. They issued an “overweight” rating for the company. Citigroup downgraded SAP from a “buy” rating to a “hold” rating in a research note on Friday, January 30th. Weiss Ratings lowered SAP from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Finally, Santander upgraded SAP to a “neutral” rating in a report on Tuesday, February 3rd. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $305.75.

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.