SAP (NYSE:SAP) Sets New 52-Week High – Here’s Why

SAP SE (NYSE:SAP) shares hit a new 52-week high during trading on Monday . The company traded as high as $231.31 and last traded at $231.05, with a volume of 42398 shares traded. The stock had previously closed at $228.15.

Analyst Upgrades and Downgrades

SAP has been the subject of a number of recent research reports. JMP Securities upped their price objective on SAP from $220.00 to $245.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 23rd. Barclays upped their price objective on SAP from $251.00 to $252.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. BMO Capital Markets upped their price objective on SAP from $237.00 to $248.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Argus raised SAP from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Finally, TD Cowen increased their price target on SAP from $188.00 to $214.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $232.17.

SAP Stock Performance

The company has a market cap of $282.06 billion, a P/E ratio of 49.80, a PEG ratio of 4.32 and a beta of 1.25. The company has a 50 day moving average price of $219.93 and a 200-day moving average price of $202.74. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17.

SAP (NYSE:SAP) last announced its quarterly earnings data on Monday, July 22nd. The software maker reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.09. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.25 billion. SAP had a return on equity of 10.98% and a net margin of 7.74%. The company’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 earnings per share. Equities analysts expect that SAP SE will post 4.78 EPS for the current fiscal year.

Institutional Trading of SAP

Several institutional investors have recently modified their holdings of the company. Modera Wealth Management LLC lifted its holdings in shares of SAP by 1.4% in the second quarter. Modera Wealth Management LLC now owns 3,736 shares of the software maker’s stock valued at $754,000 after buying an additional 50 shares during the period. Great Valley Advisor Group Inc. lifted its holdings in shares of SAP by 3.5% during the second quarter. Great Valley Advisor Group Inc. now owns 1,488 shares of the software maker’s stock valued at $300,000 after purchasing an additional 51 shares during the last quarter. RFP Financial Group LLC lifted its holdings in shares of SAP by 17.5% during the second quarter. RFP Financial Group LLC now owns 349 shares of the software maker’s stock valued at $70,000 after purchasing an additional 52 shares during the last quarter. PFG Investments LLC lifted its holdings in shares of SAP by 2.6% during the second quarter. PFG Investments LLC now owns 2,427 shares of the software maker’s stock valued at $490,000 after purchasing an additional 61 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of SAP by 32.6% during the first quarter. Bessemer Group Inc. now owns 252 shares of the software maker’s stock valued at $49,000 after purchasing an additional 62 shares during the last quarter.

About SAP

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.