Addenda Capital Inc. Continues to Hold Stake in SAP SE (SAP)
Addenda Capital Inc. maintained its position in SAP SE (NYSE:SAP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,438 shares of the software maker’s stock at the end of the second quarter. Addenda Capital Inc.’s holdings in SAP SE were worth $352,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SAP. Fisher Asset Management LLC raised its position in SAP SE by 3.8% in the second quarter. Fisher Asset Management LLC now owns 6,462,281 shares of the software maker’s stock valued at $676,407,000 after buying an additional 238,908 shares during the period. Bank of America Corp DE raised its position in SAP SE by 37.3% in the first quarter. Bank of America Corp DE now owns 2,565,236 shares of the software maker’s stock valued at $251,830,000 after buying an additional 696,447 shares during the period. Sustainable Growth Advisers LP raised its position in SAP SE by 9.1% in the first quarter. Sustainable Growth Advisers LP now owns 2,356,371 shares of the software maker’s stock valued at $231,302,000 after buying an additional 195,579 shares during the period. Morgan Stanley raised its position in SAP SE by 101.2% in the first quarter. Morgan Stanley now owns 1,659,689 shares of the software maker’s stock valued at $162,933,000 after buying an additional 834,600 shares during the period. Finally, Russell Investments Group Ltd. raised its position in SAP SE by 8.4% in the second quarter. Russell Investments Group Ltd. now owns 1,023,458 shares of the software maker’s stock valued at $107,133,000 after buying an additional 79,741 shares during the period. 3.71% of the stock is currently owned by institutional investors.
Shares of SAP SE (NYSE SAP) opened at 104.82 on Friday. The firm’s 50-day moving average price is $105.03 and its 200-day moving average price is $100.94. The stock has a market capitalization of $125.67 billion, a P/E ratio of 30.92 and a beta of 1.12. SAP SE has a 52-week low of $80.93 and a 52-week high of $108.72.
SAP SE declared that its Board of Directors has initiated a share repurchase plan on Thursday, July 20th that permits the company to buyback shares. This buyback authorization permits the software maker to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
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SAP has been the topic of several analyst reports. Stifel Nicolaus downgraded SAP SE from a “hold” rating to a “sell” rating and set a $102.13 target price on the stock. in a research note on Wednesday, April 26th. BMO Capital Markets lifted their target price on SAP SE from $105.00 to $110.00 and gave the company a “market perform” rating in a research note on Friday, July 21st. DZ Bank AG reiterated a “buy” rating on shares of SAP SE in a research note on Thursday, July 20th. BidaskClub downgraded SAP SE from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Finally, Royal Bank Of Canada lifted their target price on SAP SE from $102.00 to $106.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. SAP SE presently has a consensus rating of “Buy” and an average target price of $95.69.
SAP SE Company Profile
SAP SE (SAP) is a software and service provider. The Company offers enterprise application software. The Company operates through two segments: Applications, Technology & Services segment, and the SAP Business Network segment. The Applications, Technology & Services segment is engaged in the sale of software licenses, subscriptions to its cloud applications, and related services (primarily support services and various professional services, and support services, as well as implementation services of its software products and education services on the use of its products).
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