Exchange Traded Concepts LLC Purchases Shares of 3,050 SAP SE $SAP

Exchange Traded Concepts LLC acquired a new position in shares of SAP SE (NYSE:SAP) during the 3rd quarter, Holdings Channel reports. The firm acquired 3,050 shares of the software maker’s stock, valued at approximately $815,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Foster Victor Wealth Advisors LLC increased its stake in shares of SAP by 20.0% during the third quarter. Foster Victor Wealth Advisors LLC now owns 1,571 shares of the software maker’s stock worth $425,000 after purchasing an additional 262 shares during the period. Trust Point Inc. raised its position in shares of SAP by 46.7% in the 3rd quarter. Trust Point Inc. now owns 2,045 shares of the software maker’s stock valued at $546,000 after buying an additional 651 shares in the last quarter. Flputnam Investment Management Co. lifted its stake in SAP by 12.0% during the third quarter. Flputnam Investment Management Co. now owns 1,305 shares of the software maker’s stock worth $349,000 after purchasing an additional 140 shares during the last quarter. AdvisorNet Financial Inc lifted its position in shares of SAP by 19.3% during the 3rd quarter. AdvisorNet Financial Inc now owns 833 shares of the software maker’s stock worth $223,000 after buying an additional 135 shares during the last quarter. Finally, Louisbourg Investments Inc. lifted its holdings in shares of SAP by 81.3% in the third quarter. Louisbourg Investments Inc. now owns 7,580 shares of the software maker’s stock worth $2,025,000 after acquiring an additional 3,400 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen lowered SAP from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. BMO Capital Markets dropped their target price on shares of SAP from $330.00 to $320.00 and set an “outperform” rating on the stock in a report on Thursday, October 23rd. Argus restated a “buy” rating and set a $320.00 price target on shares of SAP in a report on Friday, October 24th. KeyCorp reissued an “overweight” rating on shares of SAP in a research report on Thursday, October 23rd. Finally, Cowen reiterated a “buy” rating on shares of SAP in a report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $284.33.

SAP Trading Up 0.3%

Shares of SAP stock opened at $246.35 on Monday. The stock has a market capitalization of $302.64 billion, a P/E ratio of 36.88, a P/E/G ratio of 3.54 and a beta of 1.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.10 and a current ratio of 1.11. The stock’s 50-day simple moving average is $250.51 and its 200 day simple moving average is $270.88. SAP SE has a 52-week low of $233.51 and a 52-week high of $313.28.

SAP (NYSE:SAP) last issued its quarterly earnings data on Wednesday, October 22nd. The software maker reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.17. SAP had a return on equity of 15.69% and a net margin of 19.50%.The business had revenue of $10.65 billion for the quarter, compared to analysts’ expectations of $9.10 billion. During the same quarter in the prior year, the firm posted $1.23 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, research analysts anticipate that SAP SE will post 6.55 EPS for the current year.

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.