SAP (NYSE:SAP) Price Target Raised to $330.00

SAP (NYSE:SAP) had its target price upped by JMP Securities from $300.00 to $330.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “market outperform” rating on the software maker’s stock. JMP Securities’ price objective indicates a potential upside of 18.86% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Barclays lifted their target price on shares of SAP from $275.00 to $283.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Kepler Capital Markets raised shares of SAP from a “hold” rating to a “buy” rating in a report on Wednesday, January 15th. BMO Capital Markets raised their target price on SAP from $248.00 to $265.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, TD Cowen upgraded SAP from a “hold” rating to a “buy” rating and boosted their price target for the company from $240.00 to $305.00 in a research note on Friday, January 17th. Ten analysts have rated the stock with a buy rating, According to MarketBeat, SAP has an average rating of “Buy” and a consensus target price of $282.00.

SAP Stock Up 1.4 %

Shares of NYSE:SAP traded up $3.86 during trading on Wednesday, reaching $277.65. The stock had a trading volume of 507,652 shares, compared to its average volume of 1,038,576. The firm’s 50-day simple moving average is $251.29 and its 200 day simple moving average is $231.70. 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 has a one year low of $173.05 and a one year high of $279.14. The company has a market capitalization of $341.09 billion, a P/E ratio of 111.20, a PEG ratio of 3.89 and a beta of 1.22.

SAP (NYSE:SAP) last issued its quarterly earnings results on Tuesday, January 28th. The software maker reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.02). SAP had a return on equity of 11.44% and a net margin of 8.15%. As a group, research analysts expect that SAP will post 4.64 EPS for the current fiscal year.

Institutional Investors Weigh In On SAP

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC boosted its holdings in 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 buying an additional 1,866,468 shares in the last quarter. WCM Investment Management LLC purchased a new stake in shares of SAP during the 4th quarter worth about $290,023,000. Jennison Associates LLC purchased a new position in shares of SAP in the 4th quarter valued at about $47,195,000. International Assets Investment Management LLC acquired a new position in SAP in the 3rd quarter worth about $40,573,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in 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 worth $37,648,000 after purchasing an additional 142,270 shares in the last quarter.

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.