Stratos Wealth Partners LTD. Boosts Position in SAP SE (SAP)
Stratos Wealth Partners LTD. increased its stake in shares of SAP SE (NYSE:SAP) by 12.0% during the second quarter, Holdings Channel reports. The fund owned 2,750 shares of the software maker’s stock after buying an additional 295 shares during the period. Stratos Wealth Partners LTD.’s holdings in SAP SE were worth $288,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of SAP. Bank of America Corp DE boosted its stake in shares of 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 in the last quarter. Strategic Global Advisors LLC boosted its stake in shares of SAP SE by 6.5% in the first quarter. Strategic Global Advisors LLC now owns 3,456 shares of the software maker’s stock valued at $339,000 after buying an additional 212 shares in the last quarter. Abbrea Capital LLC boosted its stake in shares of SAP SE by 17.0% in the first quarter. Abbrea Capital LLC now owns 7,760 shares of the software maker’s stock valued at $762,000 after buying an additional 1,125 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of SAP SE during the first quarter valued at approximately $2,053,000. Finally, Stephens Inc. AR acquired a new stake in shares of SAP SE during the first quarter valued at approximately $384,000. Hedge funds and other institutional investors own 3.77% of the company’s stock.
SAP SE (SAP) opened at 105.69 on Thursday. The firm has a market cap of $126.71 billion, a PE ratio of 31.18 and a beta of 1.12. The company’s 50-day moving average is $105.30 and its 200-day moving average is $100.29. SAP SE has a one year low of $80.93 and a one year high of $108.72.
SAP SE announced that its board has authorized a share repurchase plan on Thursday, July 20th that permits the company to buyback shares. This buyback authorization permits the software maker to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
Several equities research analysts have recently commented on the stock. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of SAP SE in a research report on Monday, June 26th. DZ Bank AG reiterated a “buy” rating on shares of SAP SE in a research report on Wednesday, June 28th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $115.00 price target (up previously from $107.00) on shares of SAP SE in a research report on Friday, June 9th. BMO Capital Markets lifted their price target on shares of SAP SE from $105.00 to $110.00 and gave the stock a “market perform” rating in a research report on Friday, July 21st. Finally, Stifel Nicolaus reiterated a “sell” rating and set a $75.00 price target on shares of SAP SE in a research report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, five have assigned 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.
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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