Verition Fund Management LLC Has $541,000 Stake in SAP SE (NYSE:SAP)

Verition Fund Management LLC increased its stake in shares of SAP SE (NYSE:SAP) by 54.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,363 shares of the software maker’s stock after buying an additional 835 shares during the period. Verition Fund Management LLC’s holdings in SAP were worth $541,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SAP. FMR LLC grew its holdings in SAP by 22.3% during the 3rd quarter. FMR LLC now owns 10,246,279 shares of the software maker’s stock worth $2,347,422,000 after acquiring an additional 1,866,468 shares during the period. Raymond James & Associates increased its stake in SAP by 3.7% in the 2nd quarter. Raymond James & Associates now owns 631,961 shares of the software maker’s stock valued at $127,473,000 after buying an additional 22,438 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of SAP by 0.8% during the 3rd quarter. Principal Financial Group Inc. now owns 611,572 shares of the software maker’s stock worth $140,111,000 after purchasing an additional 4,775 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of SAP by 8.6% in the second quarter. NewEdge Advisors LLC now owns 197,976 shares of the software maker’s stock valued at $39,934,000 after buying an additional 15,604 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of SAP during the 3rd quarter worth about $40,573,000.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barclays increased their target price on shares of SAP from $252.00 to $275.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. TD Cowen boosted their price objective on shares of SAP from $234.00 to $240.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. JMP Securities boosted their price target on shares of SAP from $245.00 to $300.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 22nd. Finally, BMO Capital Markets lifted their price objective on shares of SAP from $248.00 to $265.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, SAP presently has a consensus rating of “Moderate Buy” and an average target price of $252.33.

SAP Stock Performance

SAP stock opened at $249.51 on Thursday. The business has a 50 day moving average of $234.69 and a 200-day moving average of $216.69. The firm has a market cap of $306.52 billion, a PE ratio of 99.48, a P/E/G ratio of 4.88 and a beta of 1.23. SAP SE has a 12-month low of $148.38 and a 12-month high of $256.13. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.17.

SAP (NYSE:SAP) last released its earnings results on Monday, October 21st. The software maker reported $1.23 earnings per share 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 company had revenue of $8.47 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the prior year, the company earned $1.20 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts expect that SAP SE will post 4.89 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.