SAP (NYSE:SAP) Reaches New 52-Week Low – Here’s Why

SAP SE (NYSE:SAP)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $189.22 and last traded at $199.80, with a volume of 6628648 shares changing hands. The stock had previously closed at $197.29.

Wall Street Analysts Forecast Growth

SAP has been the topic of a number of research reports. Santander raised shares of SAP to a “neutral” rating in a research note on Tuesday. Citigroup downgraded shares of SAP from a “buy” rating to a “hold” rating in a research note on Friday, January 30th. Argus reaffirmed a “buy” rating and set a $320.00 price objective on shares of SAP in a research report on Friday, October 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of SAP in a report on Friday, January 30th. Finally, KeyCorp restated an “overweight” rating on shares of SAP in a research note on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $305.75.

SAP Stock Up 1.3%

The stock’s 50 day simple moving average is $237.19 and its two-hundred day simple moving average is $257.74. The firm has a market cap of $245.45 billion, a P/E ratio of 28.34, a P/E/G ratio of 2.17 and a beta of 1.17. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.10.

SAP (NYSE:SAP) last issued its quarterly earnings results on Thursday, January 29th. The software maker reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.13. SAP had a return on equity of 16.73% and a net margin of 19.92%.The firm had revenue of $11.36 billion for the quarter, compared to analysts’ expectations of $9.77 billion. During the same period in the previous year, the firm posted $1.40 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, research analysts forecast that SAP SE will post 6.55 earnings per share for the current year.

Hedge Funds Weigh In On SAP

Several large investors have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. raised its holdings in SAP by 59.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 34,046 shares of the software maker’s stock worth $10,353,000 after buying an additional 12,637 shares during the last quarter. AMF Tjanstepension AB lifted its stake in shares of SAP by 118.9% in the third quarter. AMF Tjanstepension AB now owns 115,679 shares of the software maker’s stock worth $30,911,000 after buying an additional 62,842 shares in the last quarter. Cidel Asset Management Inc. grew its holdings in shares of SAP by 20.2% during the second quarter. Cidel Asset Management Inc. now owns 127,005 shares of the software maker’s stock valued at $38,622,000 after buying an additional 21,372 shares during the last quarter. JARISLOWSKY FRASER Ltd increased its position in shares of SAP by 14.2% during the third quarter. JARISLOWSKY FRASER Ltd now owns 165,093 shares of the software maker’s stock valued at $44,114,000 after acquiring an additional 20,512 shares in the last quarter. Finally, NWF Advisory Services Inc. purchased a new position in SAP in the 3rd quarter worth approximately $2,415,000.

About SAP

SAP SE is a global enterprise software company headquartered in Walldorf, Germany. Founded in 1972 by five former IBM engineers, the company’s name is an acronym for Systeme, Anwendungen und Produkte in der Datenverarbeitung (Systems, Applications & Products in Data Processing). SAP develops and sells software and services that help organizations manage business processes across finance, human resources, procurement, manufacturing, supply chain and customer relationships.

SAP’s product portfolio spans on‑premises and cloud offerings, anchored by its enterprise resource planning (ERP) solutions such as SAP S/4HANA and the SAP HANA in‑memory database and platform.