Choate Investment Advisors Purchases New Position in SAP SE (NYSE:SAP)

Choate Investment Advisors purchased a new stake in SAP SE (NYSE:SAP) in the 4th quarter, HoldingsChannel reports. The firm purchased 1,763 shares of the software maker’s stock, valued at approximately $434,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SAP. FMR LLC boosted its holdings in SAP by 22.3% in the 3rd quarter. FMR LLC now owns 10,246,279 shares of the software maker’s stock worth $2,347,422,000 after buying an additional 1,866,468 shares during the last quarter. WCM Investment Management LLC acquired a new stake in SAP in the 4th quarter worth about $290,023,000. Raymond James Financial Inc. acquired a new stake in SAP in the 4th quarter worth about $150,668,000. Fisher Asset Management LLC boosted its holdings in SAP by 8.6% in the 4th quarter. Fisher Asset Management LLC now owns 5,118,138 shares of the software maker’s stock worth $1,260,137,000 after buying an additional 403,956 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in SAP by 152.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 414,154 shares of the software maker’s stock worth $101,969,000 after buying an additional 249,824 shares during the last quarter.

Analyst Ratings Changes

SAP has been the topic of several recent research reports. TD Cowen upgraded SAP from a “hold” rating to a “buy” rating and boosted their target price for the stock from $240.00 to $305.00 in a report on Friday, January 17th. Barclays boosted their target price on SAP from $283.00 to $286.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. JMP Securities boosted their target price on SAP from $300.00 to $330.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 29th. Kepler Capital Markets upgraded SAP from a “hold” rating to a “buy” rating in a report on Wednesday, January 15th. Finally, BMO Capital Markets boosted their target price on SAP from $265.00 to $307.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $248.83.

SAP Trading Up 2.3 %

SAP opened at $269.95 on Tuesday. The stock has a market capitalization of $331.63 billion, a PE ratio of 94.06, a P/E/G ratio of 4.71 and a beta of 1.25. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.10 and a current ratio of 1.12. SAP SE has a one year low of $175.08 and a one year high of $293.70. The business’s 50 day moving average price is $274.09 and its 200 day moving average price is $248.41.

SAP (NYSE:SAP) last announced its earnings results on Tuesday, January 28th. The software maker reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.02). SAP had a net margin of 9.17% and a return on equity of 12.18%. As a group, equities research analysts expect that SAP SE will post 6.55 EPS for the current year.

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.