Rockefeller Capital Management L.P. Raises Position in SAP SE (NYSE:SAP)

Rockefeller Capital Management L.P. grew its holdings in shares of SAP SE (NYSE:SAP) by 17.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,520 shares of the software maker’s stock after purchasing an additional 3,080 shares during the period. Rockefeller Capital Management L.P.’s holdings in SAP were worth $4,690,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. FMR LLC increased its position in shares of SAP by 22.3% in the 3rd quarter. FMR LLC now owns 10,246,279 shares of the software maker’s stock valued at $2,347,422,000 after acquiring an additional 1,866,468 shares during the period. International Assets Investment Management LLC acquired a new position in shares of SAP in the 3rd quarter valued at $40,573,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of SAP by 644.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 164,330 shares of the software maker’s stock valued at $37,648,000 after acquiring an additional 142,270 shares during the period. Marshall Wace LLP acquired a new position in shares of SAP in the 2nd quarter valued at $21,479,000. Finally, Hantz Financial Services Inc. acquired a new position in shares of SAP in the 2nd quarter valued at $20,532,000.

SAP Price Performance

NYSE:SAP opened at $253.61 on Thursday. SAP SE has a 52 week low of $148.38 and a 52 week high of $254.72. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $311.56 billion, a PE ratio of 101.44, a price-to-earnings-growth ratio of 4.64 and a beta of 1.23. The stock’s 50-day moving average price is $232.64 and its 200-day moving average price is $214.90.

SAP (NYSE:SAP) last posted its earnings results on Monday, October 21st. The software maker reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.08). SAP had a net margin of 8.15% and a return on equity of 11.44%. The business had revenue of $8.47 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter last year, the business earned $1.20 earnings per share. SAP’s revenue was up 9.4% on a year-over-year basis. As a group, equities analysts expect that SAP SE will post 4.89 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on SAP. BMO Capital Markets upped their target price on SAP from $248.00 to $265.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Barclays increased their price target on SAP from $252.00 to $275.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. JMP Securities increased their price target on SAP from $245.00 to $300.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 22nd. Finally, TD Cowen increased their price target on SAP from $234.00 to $240.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, SAP currently has a consensus rating of “Moderate Buy” and an average price target of $252.33.

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.