SAP (NYSE:SAP) Upgraded by TD Cowen to Buy Rating

TD Cowen upgraded shares of SAP (NYSE:SAP) from a hold rating to a buy rating in a research report sent to investors on Friday, MarketBeat.com reports. TD Cowen currently has $305.00 target price on the software maker’s stock, up from their previous target price of $240.00.

Other equities research analysts also recently issued reports about the stock. JMP Securities boosted their target price on shares of SAP from $245.00 to $300.00 and gave the company a “market outperform” rating in a report on Tuesday, October 22nd. Kepler Capital Markets upgraded SAP from a “hold” rating to a “buy” rating in a report on Wednesday. Barclays lifted their target price on SAP from $252.00 to $275.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, BMO Capital Markets upped their price target on SAP from $248.00 to $265.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, SAP currently has an average rating of “Buy” and a consensus price target of $263.17.

SAP Trading Up 0.4 %

Shares of SAP stock opened at $262.74 on Friday. SAP has a fifty-two week low of $158.94 and a fifty-two week high of $264.71. The business’s fifty day moving average is $245.17 and its two-hundred day moving average is $227.47. 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 firm has a market cap of $322.77 billion, a PE ratio of 105.09, a P/E/G ratio of 3.56 and a beta of 1.22.

SAP (NYSE:SAP) last issued its quarterly earnings results on Monday, October 21st. The software maker reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.08). The business had revenue of $8.47 billion during the quarter, compared to analyst estimates of $9.25 billion. SAP had a return on equity of 11.44% and a net margin of 8.15%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.20 earnings per share. Analysts anticipate that SAP will post 4.66 earnings per share for the current year.

Institutional Investors Weigh In On SAP

Large investors have recently modified their holdings of the stock. American Century Companies Inc. grew its position in SAP by 5.6% in the second quarter. American Century Companies Inc. now owns 76,077 shares of the software maker’s stock valued at $15,346,000 after acquiring an additional 4,037 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in SAP by 0.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 129,213 shares of the software maker’s stock worth $26,064,000 after buying an additional 773 shares during the period. Dimensional Fund Advisors LP increased its stake in SAP by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 45,770 shares of the software maker’s stock worth $9,232,000 after buying an additional 1,158 shares during the period. Virtu Financial LLC acquired a new position in SAP in the 2nd quarter worth $755,000. Finally, Mercer Global Advisors Inc. ADV boosted its position in SAP by 3.5% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 63,557 shares of the software maker’s stock valued at $12,820,000 after buying an additional 2,150 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.