Veery Capital LLC Purchases New Holdings in SAP SE (NYSE:SAP)

Veery Capital LLC acquired a new position in shares of SAP SE (NYSE:SAP) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 882 shares of the software maker’s stock, valued at approximately $202,000.

A number of other hedge funds have also made changes to their positions in the company. CIBC Asset Management Inc boosted its stake in shares of SAP by 9.8% in the third quarter. CIBC Asset Management Inc now owns 50,247 shares of the software maker’s stock worth $11,425,000 after acquiring an additional 4,484 shares during the last quarter. Zions Bancorporation N.A. boosted its stake in SAP by 37.3% during the 3rd quarter. Zions Bancorporation N.A. now owns 3,311 shares of the software maker’s stock worth $759,000 after purchasing an additional 899 shares during the last quarter. Huntington National Bank grew its holdings in shares of SAP by 12.4% during the third quarter. Huntington National Bank now owns 1,937 shares of the software maker’s stock worth $444,000 after buying an additional 214 shares in the last quarter. Schrum Private Wealth Management LLC acquired a new stake in shares of SAP in the third quarter valued at about $285,000. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of SAP in the third quarter worth about $210,000.

SAP Price Performance

SAP stock opened at $228.31 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market capitalization of $280.48 billion, a price-to-earnings ratio of 91.32, a price-to-earnings-growth ratio of 4.41 and a beta of 1.25. The company’s 50 day simple moving average is $228.97 and its 200-day simple moving average is $210.45. SAP SE has a 1 year low of $148.10 and a 1 year high of $243.01.

SAP (NYSE:SAP) last released its quarterly earnings results on Monday, October 21st. The software maker reported $1.23 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.08). SAP had a return on equity of 11.44% and a net margin of 8.15%. The firm had revenue of $8.47 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the prior year, the business earned $1.20 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts expect that SAP SE will post 4.85 earnings per share for the current year.

Wall Street Analyst Weigh In

SAP has been the subject of a number of recent research reports. BMO Capital Markets increased their price objective on shares of SAP from $248.00 to $265.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. JMP Securities lifted their price objective on SAP from $245.00 to $300.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 22nd. TD Cowen boosted their price objective on SAP from $234.00 to $240.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Argus raised shares of SAP from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Finally, Barclays raised their price objective 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. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.33.

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.