SAP SE (NYSE:SAP) Shares Bought by Sei Investments Co.
Sei Investments Co. raised its position in shares of SAP SE (NYSE:SAP) by 20.0% during the second quarter, Holdings Channel reports. The fund owned 92,266 shares of the software maker’s stock after buying an additional 15,352 shares during the period. Sei Investments Co.’s holdings in SAP SE were worth $9,657,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of America Corp DE boosted 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 worth $251,830,000 after buying an additional 696,447 shares during the last quarter. Strategic Global Advisors LLC boosted its position in SAP SE by 6.5% in the first quarter. Strategic Global Advisors LLC now owns 3,456 shares of the software maker’s stock worth $339,000 after buying an additional 212 shares during the last quarter. Abbrea Capital LLC boosted its position in SAP SE by 17.0% in the first quarter. Abbrea Capital LLC now owns 7,760 shares of the software maker’s stock worth $762,000 after buying an additional 1,125 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in SAP SE during the first quarter worth about $2,053,000. Finally, Stephens Inc. AR acquired a new position in SAP SE during the first quarter worth about $384,000. 3.77% of the stock is owned by hedge funds and other institutional investors.
SAP SE (SAP) opened at 103.81 on Friday. SAP SE has a 12 month low of $80.93 and a 12 month high of $108.72. The company’s 50-day moving average price is $105.23 and its 200 day moving average price is $100.32. The firm has a market capitalization of $124.46 billion, a PE ratio of 30.62 and a beta of 1.12.
SAP SE declared that its board has initiated a share repurchase plan on Thursday, July 20th that authorizes the company to buyback shares. This buyback authorization authorizes the software maker to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.
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SAP has been the subject of several recent research reports. William Blair reaffirmed a “market perform” rating on shares of SAP SE in a research report on Friday, April 14th. Cowen and Company reaffirmed an “outperform” rating and set a $110.00 price objective (up from $105.00) on shares of SAP SE in a research report on Saturday, April 29th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of SAP SE in a research report on Monday, June 26th. Morgan Stanley reaffirmed a “buy” rating on shares of SAP SE in a research report on Thursday, April 13th. Finally, Royal Bank Of Canada upped their price objective on SAP SE from $102.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $95.69.
About SAP SE
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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