Wells Fargo & Company Initiates Coverage on SAP (NYSE:SAP)

Equities research analysts at Wells Fargo & Company assumed coverage on shares of SAP (NYSE:SAP) in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage set an “overweight” rating on the software maker’s stock.

SAP has been the topic of a number of other reports. Barclays reiterated an “overweight” rating and set a $308.00 target price (up from $286.00) on shares of SAP in a research note on Thursday, April 24th. Argus reaffirmed a “buy” rating and issued a $320.00 price objective on shares of SAP in a research report on Tuesday, April 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $38.00 target price on shares of SAP in a research note on Thursday, January 30th. JMP Securities raised their price target on shares of SAP from $300.00 to $330.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 29th. Finally, BMO Capital Markets upped their price objective on SAP from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 23rd. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $264.00.

SAP Trading Up 0.8%

Shares of SAP stock opened at $298.78 on Tuesday. SAP has a 52-week low of $179.43 and a 52-week high of $303.40. The company has a 50-day simple moving average of $272.87 and a two-hundred day simple moving average of $263.79. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.10 and a current ratio of 1.12. The company has a market capitalization of $367.05 billion, a price-to-earnings ratio of 104.10, a PEG ratio of 4.71 and a beta of 1.35.

SAP (NYSE:SAP) last released its earnings results on Tuesday, April 22nd. The software maker reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.12. The company had revenue of $10.35 billion during the quarter, compared to analyst estimates of $9.08 billion. SAP had a return on equity of 12.18% and a net margin of 9.17%. Research analysts anticipate that SAP will post 6.55 EPS for the current fiscal year.

Hedge Funds Weigh In On SAP

Hedge funds have recently made changes to their positions in the stock. Alaethes Wealth LLC grew its holdings in SAP by 1.0% during the 1st quarter. Alaethes Wealth LLC now owns 11,199 shares of the software maker’s stock valued at $3,006,000 after buying an additional 112 shares in the last quarter. SCS Capital Management LLC purchased a new position in SAP during the first quarter valued at approximately $233,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in SAP during the 1st quarter worth approximately $2,681,000. Palogic Value Management L.P. lifted its stake in SAP by 1.3% in the 1st quarter. Palogic Value Management L.P. now owns 5,963 shares of the software maker’s stock worth $1,601,000 after purchasing an additional 75 shares in the last quarter. Finally, Ascent Group LLC boosted its holdings in SAP by 196.3% in the 1st quarter. Ascent Group LLC now owns 4,175 shares of the software maker’s stock valued at $1,121,000 after purchasing an additional 2,766 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.