Jennison Associates LLC Takes $47.20 Million Position in SAP SE (NYSE:SAP)

Jennison Associates LLC bought a new position in shares of SAP SE (NYSE:SAP) in the 4th quarter, Holdings Channel.com reports. The firm bought 191,687 shares of the software maker’s stock, valued at approximately $47,195,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FMR LLC raised its position in shares of SAP by 22.3% during the third quarter. FMR LLC now owns 10,246,279 shares of the software maker’s stock valued at $2,347,422,000 after buying an additional 1,866,468 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in SAP in the 3rd quarter worth $40,573,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of SAP by 644.9% during 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 purchasing an additional 142,270 shares during the last quarter. Mediolanum International Funds Ltd purchased a new stake in shares of SAP in the third quarter worth about $17,376,000. Finally, Holocene Advisors LP bought a new position in SAP during the third quarter valued at approximately $10,869,000.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SAP. TD Cowen raised SAP from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $240.00 to $305.00 in a research note on Friday, January 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $38.00 price target on shares of SAP in a research note on Thursday, January 30th. Barclays lifted their price objective on shares of SAP from $283.00 to $286.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. BMO Capital Markets upped their target price on shares of SAP from $265.00 to $307.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Kepler Capital Markets upgraded SAP from a “hold” rating to a “buy” rating in a research report on Wednesday, January 15th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $248.83.

SAP Price Performance

SAP stock opened at $278.07 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.16. SAP SE has a 12 month low of $173.09 and a 12 month high of $280.53. The stock has a market cap of $341.61 billion, a PE ratio of 96.89, a P/E/G ratio of 4.53 and a beta of 1.23. The company has a 50-day moving average price of $254.57 and a 200 day moving average price of $233.81.

SAP (NYSE:SAP) last issued its quarterly earnings results on Tuesday, January 28th. The software maker reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.51 by ($0.02). SAP had a return on equity of 12.18% and a net margin of 9.17%. Equities research analysts anticipate that SAP SE will post 6.53 earnings per share for the current year.

SAP Company Profile

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.