E Fund Management Hong Kong Co. Ltd. Buys Shares of 397 SAP SE (NYSE:SAP)

E Fund Management Hong Kong Co. Ltd. bought a new stake in SAP SE (NYSE:SAP) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 397 shares of the software maker’s stock, valued at approximately $91,000.

Other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in shares of SAP by 440.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,911 shares of the software maker’s stock worth $568,000 after purchasing an additional 2,372 shares in the last quarter. HB Wealth Management LLC increased its stake in shares of SAP by 47.8% during the 1st quarter. HB Wealth Management LLC now owns 2,432 shares of the software maker’s stock worth $474,000 after purchasing an additional 787 shares in the last quarter. Norden Group LLC increased its stake in shares of SAP by 38.9% during the 1st quarter. Norden Group LLC now owns 3,728 shares of the software maker’s stock worth $727,000 after purchasing an additional 1,045 shares in the last quarter. Diversify Advisory Services LLC purchased a new position in shares of SAP during the 1st quarter worth approximately $1,951,000. Finally, Mission Wealth Management LP increased its stake in shares of SAP by 27.8% during the 1st quarter. Mission Wealth Management LP now owns 3,464 shares of the software maker’s stock worth $676,000 after purchasing an additional 754 shares in the last quarter.

SAP Stock Down 2.1 %

Shares of SAP opened at $237.31 on Thursday. The firm has a market cap of $291.54 billion, a PE ratio of 94.92, a price-to-earnings-growth ratio of 4.54 and a beta of 1.25. The company’s fifty day moving average is $224.90 and its two-hundred day moving average is $206.12. SAP SE has a fifty-two week low of $133.46 and a fifty-two week high of $243.01. 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 announced its quarterly 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). The company had revenue of $8.47 billion during the quarter, compared to analyst estimates of $9.25 billion. SAP had a net margin of 8.15% and a return on equity of 11.44%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 EPS. Analysts forecast that SAP SE will post 4.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SAP. JMP Securities raised their price objective on shares of SAP from $245.00 to $300.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 22nd. TD Cowen raised 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. Argus upgraded shares of SAP from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets raised their target price on shares of SAP from $248.00 to $265.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Barclays raised 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. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $252.33.

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.