Principal Financial Group Inc. Boosts Holdings in SAP SE (NYSE:SAP)

Principal Financial Group Inc. lifted its stake in shares of SAP SE (NYSE:SAP) by 0.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 611,572 shares of the software maker’s stock after purchasing an additional 4,775 shares during the period. Principal Financial Group Inc.’s holdings in SAP were worth $140,111,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Godsey & Gibb Inc. purchased a new stake in SAP during the 3rd quarter worth approximately $25,000. POM Investment Strategies LLC boosted its stake in shares of SAP by 892.3% in the second quarter. POM Investment Strategies LLC now owns 129 shares of the software maker’s stock worth $26,000 after acquiring an additional 116 shares during the last quarter. Crewe Advisors LLC raised its stake in SAP by 1,270.0% in the 2nd quarter. Crewe Advisors LLC now owns 137 shares of the software maker’s stock valued at $28,000 after purchasing an additional 127 shares during the last quarter. Brooklyn Investment Group purchased a new position in SAP in the 3rd quarter valued at $42,000. Finally, LRI Investments LLC boosted its stake in SAP by 68.3% during the 2nd quarter. LRI Investments LLC now owns 212 shares of the software maker’s stock worth $43,000 after purchasing an additional 86 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. TD Cowen increased their target price on shares of SAP from $234.00 to $240.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Barclays increased 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 boosted their target price on SAP from $245.00 to $300.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 22nd. Finally, BMO Capital Markets increased their price target on SAP from $248.00 to $265.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. One equities 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.33.

SAP Trading Up 0.9 %

SAP opened at $247.90 on Friday. The stock has a market capitalization of $304.55 billion, a PE ratio of 99.16, a P/E/G ratio of 4.94 and a beta of 1.23. SAP SE has a one year low of $148.38 and a one year high of $256.13. 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 business’s 50 day moving average price is $238.81 and its 200 day moving average price is $219.74.

SAP (NYSE:SAP) last announced 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). The business 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 business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the company earned $1.20 EPS. As a group, equities research analysts expect that SAP SE will post 4.8 EPS for the current 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.