SAP (NYSE:SAP) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen cut shares of SAP (NYSE:SAP) from a buy rating to a hold rating in a research note released on Friday.

A number of other equities research analysts have also commented on SAP. Barclays reissued an “overweight” rating and issued a $322.00 price target (up from $308.00) on shares of SAP in a research report on Friday, July 25th. Oddo Bhf raised SAP from a “neutral” rating to an “outperform” rating in a research report on Wednesday, September 24th. Jefferies Financial Group reaffirmed a “buy” rating on shares of SAP in a research report on Tuesday, September 16th. Morgan Stanley reaffirmed an “overweight” rating on shares of SAP in a research report on Tuesday, August 5th. Finally, Erste Group Bank lowered SAP from a “buy” rating to a “hold” rating in a research report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $281.67.

SAP Trading Down 0.5%

NYSE SAP opened at $270.48 on Friday. The firm has a market capitalization of $332.29 billion, a P/E ratio of 44.78, a PEG ratio of 3.91 and a beta of 1.28. The business has a fifty day simple moving average of $272.89 and a 200 day simple moving average of $282.33. SAP has a 12 month low of $217.51 and a 12 month high of $313.28. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.15.

SAP (NYSE:SAP) last released its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.07. The business had revenue of $10.58 billion during the quarter, compared to analyst estimates of $9.10 billion. SAP had a return on equity of 14.84% and a net margin of 18.26%.SAP’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.10 EPS. On average, analysts predict that SAP will post 6.55 EPS for the current fiscal year.

Institutional Investors Weigh In On SAP

Several large investors have recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its stake in SAP by 9.0% in the 2nd quarter. Fisher Asset Management LLC now owns 14,157,321 shares of the software maker’s stock worth $4,305,242,000 after purchasing an additional 1,163,616 shares during the period. Bank of America Corp DE boosted its stake in SAP by 58.1% in the 2nd quarter. Bank of America Corp DE now owns 2,650,418 shares of the software maker’s stock worth $805,992,000 after purchasing an additional 973,779 shares during the period. Twin Tree Management LP boosted its stake in SAP by 122.5% in the 1st quarter. Twin Tree Management LP now owns 51,632 shares of the software maker’s stock worth $13,860,000 after purchasing an additional 280,896 shares during the period. Trivest Advisors Ltd bought a new position in SAP in the 2nd quarter worth about $52,305,000. Finally, Jennison Associates LLC boosted its stake in SAP by 195.0% in the 2nd quarter. Jennison Associates LLC now owns 221,349 shares of the software maker’s stock worth $67,312,000 after purchasing an additional 146,325 shares during the period.

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.