Harvest Fund Management Co. Ltd Acquires 4,655 Shares of SAP SE (NYSE:SAP)

Harvest Fund Management Co. Ltd raised its holdings in SAP SE (NYSE:SAP) by 98.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,368 shares of the software maker’s stock after acquiring an additional 4,655 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in SAP were worth $2,147,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SAP. International Assets Investment Management LLC acquired a new stake in shares of SAP during the third quarter worth $40,573,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of SAP by 644.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 164,330 shares of the software maker’s stock valued at $37,648,000 after acquiring an additional 142,270 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of SAP in the 2nd quarter valued at approximately $21,479,000. Hantz Financial Services Inc. bought a new position in SAP during the 2nd quarter worth approximately $20,532,000. Finally, Mediolanum International Funds Ltd bought a new stake in SAP in the third quarter valued at approximately $17,376,000.

Analyst Ratings Changes

A number of analysts recently commented on the stock. JMP Securities upped their price objective on shares of SAP from $245.00 to $300.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 22nd. TD Cowen lifted their price target on shares of SAP from $234.00 to $240.00 and gave the company 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 report on Wednesday, July 31st. BMO Capital Markets upped their target price on shares of SAP from $248.00 to $265.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Barclays boosted their price target on SAP from $252.00 to $275.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, SAP presently has an average rating of “Moderate Buy” and an average price target of $252.33.

SAP Price Performance

NYSE:SAP opened at $236.25 on Monday. The stock’s 50-day simple moving average is $230.65 and its 200 day simple moving average is $212.39. SAP SE has a 52-week low of $148.38 and a 52-week high of $243.01. 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 company has a market cap of $290.23 billion, a P/E ratio of 94.50, a P/E/G ratio of 4.53 and a beta of 1.25.

SAP (NYSE:SAP) last announced its quarterly earnings data on Monday, October 21st. The software maker reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.08). The company 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%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 EPS. As a group, sell-side analysts forecast that SAP SE will post 4.89 EPS for the current fiscal year.

SAP Company 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.