Verition Fund Management LLC Purchases 835 Shares of SAP SE (NYSE:SAP)

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

Other large investors have also bought and sold shares of the company. FMR LLC boosted its holdings 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 worth $2,347,422,000 after purchasing an additional 1,866,468 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of SAP in the 3rd quarter worth approximately $40,573,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of SAP by 644.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 164,330 shares of the software maker’s stock valued at $37,648,000 after acquiring an additional 142,270 shares in the last quarter. Marshall Wace LLP purchased a new position in SAP in the second quarter worth about $21,479,000. Finally, Hantz Financial Services Inc. purchased a new stake in SAP during the 2nd quarter valued at $20,532,000.

Analysts Set New Price Targets

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

SAP Trading Down 0.7 %

Shares of NYSE:SAP opened at $249.51 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.10 and a quick ratio of 1.10. The business’s 50-day moving average is $234.69 and its 200 day moving average is $216.69. The firm has a market capitalization of $306.52 billion, a P/E ratio of 99.48, a P/E/G ratio of 4.88 and a beta of 1.23. SAP SE has a 1 year low of $148.38 and a 1 year high of $256.13.

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 for the quarter, compared to analysts’ expectations of $9.25 billion. SAP had a return on equity of 11.44% and a net margin of 8.15%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.20 EPS. On average, research analysts predict that SAP SE will post 4.89 earnings per share for the current fiscal year.

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.