Skye Global Management LP Buys 31,050 Shares of SAP SE (NYSE:SAP)

Skye Global Management LP increased its stake in shares of SAP SE (NYSE:SAP) by 197.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,800 shares of the software maker’s stock after acquiring an additional 31,050 shares during the period. SAP comprises approximately 0.3% of Skye Global Management LP’s investment portfolio, making the stock its 23rd largest holding. Skye Global Management LP’s holdings in SAP were worth $10,722,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SAP. Price T Rowe Associates Inc. MD grew its stake in shares of SAP by 3.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 57,751 shares of the software maker’s stock valued at $11,264,000 after buying an additional 1,807 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in shares of SAP by 48.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,433 shares of the software maker’s stock valued at $865,000 after acquiring an additional 1,437 shares during the period. Tidal Investments LLC increased its stake in shares of SAP by 99.0% during the 1st quarter. Tidal Investments LLC now owns 8,162 shares of the software maker’s stock worth $1,592,000 after purchasing an additional 4,061 shares during the last quarter. LRI Investments LLC bought a new stake in shares of SAP in the 1st quarter valued at about $25,000. Finally, Burney Co. lifted its stake in SAP by 6.5% in the 1st quarter. Burney Co. now owns 7,793 shares of the software maker’s stock valued at $1,520,000 after purchasing an additional 475 shares during the last quarter.

Analysts Set New Price Targets

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

SAP Price Performance

Shares of NYSE:SAP opened at $232.02 on Friday. The firm has a 50 day moving average of $231.37 and a 200-day moving average of $213.26. The stock has a market capitalization of $285.04 billion, a PE ratio of 92.81, a PEG ratio of 4.45 and a beta of 1.25. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.17. SAP SE has a 12 month low of $148.38 and a 12 month high of $243.01.

SAP (NYSE:SAP) last announced its quarterly earnings data on Monday, October 21st. The software maker reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.08). The business had revenue of $8.47 billion for the quarter, compared to the consensus estimate of $9.25 billion. SAP had a return on equity of 11.44% and a net margin of 8.15%. SAP’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 earnings per share. On average, equities research analysts predict that SAP SE will post 4.89 EPS for the current fiscal year.

SAP 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.