Boston Advisors LLC acquired a new stake in SAP SE (NYSE:SAP) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 1,905 shares of the software maker’s stock, valued at approximately $209,000.
Other hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC lifted its position in SAP SE by 32.4% in the second quarter. Parallel Advisors LLC now owns 957 shares of the software maker’s stock valued at $101,000 after purchasing an additional 234 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new stake in SAP SE in the second quarter valued at approximately $132,000. IFP Advisors Inc lifted its position in SAP SE by 29.4% in the second quarter. IFP Advisors Inc now owns 1,456 shares of the software maker’s stock valued at $152,000 after purchasing an additional 331 shares during the last quarter. Fiduciary Trust Co. bought a new stake in SAP SE in the second quarter valued at approximately $157,000. Finally, Huntington National Bank lifted its position in SAP SE by 1.6% in the second quarter. Huntington National Bank now owns 1,548 shares of the software maker’s stock valued at $162,000 after purchasing an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 3.59% of the company’s stock.
SAP SE (NYSE:SAP) last issued its earnings results on Thursday, October 19th. The software maker reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.12. The business had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.68 billion. SAP SE had a return on equity of 15.43% and a net margin of 15.80%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis.
SAP SE announced that its Board of Directors has authorized a share buyback plan on Thursday, July 20th that permits the company to buyback shares. This buyback authorization permits the software maker to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
Several analysts have weighed in on the company. Royal Bank Of Canada reiterated a “neutral” rating on shares of SAP SE in a research report on Monday, October 16th. Stifel Nicolaus reiterated a “sell” rating and issued a $75.00 price objective on shares of SAP SE in a research report on Friday, July 14th. Berenberg Bank assumed coverage on SAP SE in a research report on Wednesday, August 23rd. They issued a “buy” rating for the company. Morgan Stanley reiterated a “buy” rating on shares of SAP SE in a research report on Monday, October 16th. Finally, Zacks Investment Research upgraded SAP SE from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. SAP SE currently has an average rating of “Buy” and a consensus price target of $101.33.
About SAP SE
SAP SE (SAP) is a software and service provider. The Company offers enterprise application software. The Company operates through two segments: Applications, Technology & Services segment, and the SAP Business Network segment. The Applications, Technology & Services segment is engaged in the sale of software licenses, subscriptions to its cloud applications, and related services (primarily support services and various professional services, and support services, as well as implementation services of its software products and education services on the use of its products).
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