SAP (NYSE:SAP) Share Price Breaks Above Two Hundred Day Moving Average – Here’s What Happened

SAP SE (NYSE:SAP)’s stock price passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $182.36 and traded as high as $210.31. SAP shares last traded at $208.6320, with a volume of 1,412,390 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SAP. Citigroup reaffirmed a “buy” rating on shares of SAP in a report on Tuesday, September 22nd. Barclays cut their price objective on SAP from $255.00 to $242.00 and set an “overweight” rating on the stock in a report on Monday, July 27th. BMO Capital Markets lifted their price target on SAP from $175.00 to $177.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Morgan Stanley reissued an “overweight” rating on shares of SAP in a report on Friday, August 21st. Finally, UBS Group downgraded SAP from a “buy” rating to a “neutral” rating in a report on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $256.29.

SAP Trading Down 1.0%

The stock has a market capitalization of $256.30 billion, a P/E ratio of 26.21, a P/E/G ratio of 2.45 and a beta of 1.13. The firm’s 50 day simple moving average is $207.61 and its two-hundred day simple moving average is $182.36. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.19.

SAP (NYSE:SAP) last posted its quarterly earnings results on Wednesday, July 22nd. The software maker reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($0.18). SAP had a net margin of 20.88% and a return on equity of 17.07%. The business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.30 billion. During the same period in the previous year, the business posted $1.50 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, analysts forecast that SAP SE will post 8.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership purchased a new stake in SAP in the 1st quarter worth approximately $150,701,000. Ruane Cunniff & Goldfarb L.P. raised its holdings in shares of SAP by 1,532.8% during the 1st quarter. Ruane Cunniff & Goldfarb L.P. now owns 749,909 shares of the software maker’s stock valued at $128,392,000 after buying an additional 703,982 shares in the last quarter. Norges Bank purchased a new stake in SAP in the fourth quarter worth approximately $81,784,000. Bank of America Corp DE boosted its stake in shares of SAP by 15.9% in the 1st quarter. Bank of America Corp DE now owns 2,018,383 shares of the software maker’s stock valued at $345,567,000 after purchasing an additional 276,263 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in SAP by 18.5% during the second quarter. Tidal Investments LLC now owns 1,214,315 shares of the software maker’s stock valued at $187,138,000 after buying an additional 189,591 shares during the period.

About SAP

SAP SE is a German enterprise software company headquartered in Walldorf, Germany. Founded in 1972 by five former IBM employees, SAP develops technology that helps organizations manage finance, procurement, supply chains, human resources, customer relationships and other core business operations.

The company’s principal offerings include SAP S/4HANA Cloud enterprise resource planning software, the SAP Business Technology Platform, and cloud applications such as SAP SuccessFactors for human capital management, SAP Ariba for procurement, SAP Concur for travel and expense management, and SAP Customer Experience solutions.