EverSource Wealth Advisors LLC Boosts Stake in SAP SE (NYSE:SAP)

EverSource Wealth Advisors LLC increased its position in SAP SE (NYSE:SAP) by 31.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,178 shares of the software maker’s stock after buying an additional 281 shares during the period. EverSource Wealth Advisors LLC’s holdings in SAP were worth $213,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. LRI Investments LLC purchased a new stake in SAP during the first quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new stake in SAP during the first quarter valued at approximately $25,000. Sunbelt Securities Inc. purchased a new stake in SAP during the first quarter valued at approximately $29,000. Geneos Wealth Management Inc. raised its position in SAP by 254.2% during the first quarter. Geneos Wealth Management Inc. now owns 170 shares of the software maker’s stock valued at $33,000 after purchasing an additional 122 shares during the period. Finally, Adirondack Trust Co. raised its position in SAP by 121.1% during the fourth quarter. Adirondack Trust Co. now owns 199 shares of the software maker’s stock valued at $31,000 after purchasing an additional 109 shares during the period.

SAP Price Performance

NYSE:SAP traded down $0.84 during midday trading on Friday, hitting $204.72. The stock had a trading volume of 1,144,568 shares, compared to its average volume of 849,757. SAP SE has a one year low of $126.75 and a one year high of $214.94. The stock has a 50-day moving average of $197.84 and a 200 day moving average of $189.29. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17.

SAP (NYSE:SAP) last announced its earnings results on Monday, July 22nd. The software maker reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.09. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.25 billion. SAP had a return on equity of 10.98% and a net margin of 7.74%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 EPS. As a group, equities analysts predict that SAP SE will post 4.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SAP shares. Argus upgraded SAP from a “hold” rating to a “buy” rating in a research report on Wednesday. BMO Capital Markets upped their target price on SAP from $237.00 to $248.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. JMP Securities upped their target price on SAP from $220.00 to $245.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 23rd. Barclays cut their target price on SAP from $212.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Finally, Sanford C. Bernstein initiated coverage on SAP in a research note on Thursday, May 23rd. They set an “outperform” rating and a $227.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $225.17.

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.