Stock Traders Purchase Large Volume of Put Options on SAP (NYSE:SAP)

SAP SE (NYSE:SAP) saw some unusual options trading activity on Friday. Investors acquired 5,494 put options on the company. This represents an increase of approximately 136% compared to the average volume of 2,329 put options.

SAP Trading Down 0.9%

SAP stock opened at $233.67 on Friday. SAP has a 12-month low of $231.91 and a 12-month high of $313.28. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm’s fifty day moving average price is $243.17 and its 200 day moving average price is $265.44.

SAP (NYSE:SAP) last announced its earnings results on Wednesday, October 22nd. The software maker reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.17. SAP had a return on equity of 15.69% and a net margin of 19.50%.The company had revenue of $10.65 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same period last year, the firm earned $1.23 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. Analysts anticipate that SAP will post 6.55 earnings per share for the current fiscal year.

SAP News Summary

Here are the key news stories impacting SAP this week:

• Positive Sentiment: BofA says risk is skewed to the upside into SAP’s upcoming 4Q results — suggests analysts expect better-than-feared results or upside surprises that could drive the stock higher on the report. SAP stock: BofA sees risk skewed to the upside into 4Q results
• Positive Sentiment: Morgan Stanley also views risk skewed to the upside into 4Q results — a second major house backing upside raises the chance that earnings/guide beats could spur a rally when results arrive. SAP stock: Morgan Stanley sees risk skewed to the upside into 4Q results
• Positive Sentiment: SAP announced a multi-year strategic partnership with Syngenta to embed AI across Syngenta’s operations — expands SAP’s total addressable market in agriculture, highlights demand for AI-enabled enterprise software and could support recurring cloud revenue over time. SAP and Syngenta Announce Partnership to Scale AI-Assisted Agriculture
• Neutral Sentiment: Decisions + ProcessMaker acquired a codeless SAP integration/automation company — signals healthy third‑party ecosystem and demand for easier SAP automation, but the deal is indirect and unlikely to materially change SAP’s near-term financials. Decisions + ProcessMaker Acquires Codeless SAP Integration and Automation Company
• Neutral Sentiment: Praxis completed a rapid SAP Cloud ERP go‑live for a mid‑market customer in three months — a positive execution example, but small in scale relative to SAP’s enterprise footprint. Praxis enables rapid SAP cloud ERP go-live for Dhananjay Group in just three months
• Negative Sentiment: Unusually large put option activity: ~5,494 puts traded on Friday (≈136% above typical put volume). This elevated put buying can reflect hedging or bearish bets and may exert short-term downward pressure or increased volatility ahead of results.

Institutional Trading of SAP

A number of hedge funds have recently made changes to their positions in SAP. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of SAP by 59.0% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 34,046 shares of the software maker’s stock valued at $10,353,000 after buying an additional 12,637 shares during the period. Cidel Asset Management Inc. lifted its holdings in SAP by 20.2% in the second quarter. Cidel Asset Management Inc. now owns 127,005 shares of the software maker’s stock worth $38,622,000 after acquiring an additional 21,372 shares during the last quarter. JARISLOWSKY FRASER Ltd boosted its stake in SAP by 14.2% in the third quarter. JARISLOWSKY FRASER Ltd now owns 165,093 shares of the software maker’s stock valued at $44,114,000 after acquiring an additional 20,512 shares during the period. US Bancorp DE grew its holdings in shares of SAP by 12.4% during the second quarter. US Bancorp DE now owns 151,738 shares of the software maker’s stock valued at $46,144,000 after purchasing an additional 16,726 shares during the last quarter. Finally, Journey Advisory Group LLC acquired a new stake in shares of SAP during the 2nd quarter worth approximately $936,000.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SAP shares. Cowen reiterated a “buy” rating on shares of SAP in a report on Thursday, October 23rd. Oddo Bhf upgraded shares of SAP from a “neutral” rating to an “outperform” rating in a report on Wednesday, September 24th. Jefferies Financial Group reaffirmed a “buy” rating on shares of SAP in a research report on Monday, October 27th. Citigroup reissued a “buy” rating on shares of SAP in a research note on Thursday, December 11th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of SAP in a research report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $280.20.

About SAP

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.