Connor Clark & Lunn Investment Management Ltd. Acquires 12,637 Shares of SAP SE $SAP

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in SAP SE (NYSE:SAP) by 59.0% in the 2nd quarter, Holdings Channel reports. The firm owned 34,046 shares of the software maker’s stock after buying an additional 12,637 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in SAP were worth $10,353,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Twin Tree Management LP lifted its position in shares of SAP by 122.5% in the first quarter. Twin Tree Management LP now owns 51,632 shares of the software maker’s stock worth $13,860,000 after buying an additional 280,896 shares during the last quarter. Trivest Advisors Ltd bought a new position in shares of SAP in the 2nd quarter valued at approximately $52,305,000. Jennison Associates LLC lifted its holdings in SAP by 195.0% in the 2nd quarter. Jennison Associates LLC now owns 221,349 shares of the software maker’s stock worth $67,312,000 after purchasing an additional 146,325 shares during the last quarter. Deutsche Bank AG boosted its position in SAP by 2,105.3% during the first quarter. Deutsche Bank AG now owns 105,260 shares of the software maker’s stock worth $28,256,000 after purchasing an additional 100,487 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in SAP by 6.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,318,908 shares of the software maker’s stock valued at $354,048,000 after purchasing an additional 80,164 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SAP. JMP Securities reaffirmed a “market outperform” rating and set a $375.00 price objective on shares of SAP in a report on Thursday, October 23rd. Morgan Stanley restated an “overweight” rating on shares of SAP in a report on Friday, October 31st. BMO Capital Markets lowered their price target on SAP from $330.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday, October 23rd. Jefferies Financial Group reissued a “buy” rating on shares of SAP in a research report on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SAP in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $284.33.

SAP Stock Up 1.0%

SAP stock opened at $254.18 on Wednesday. The business’s 50-day simple moving average is $266.50 and its 200 day simple moving average is $283.68. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market cap of $312.26 billion, a PE ratio of 38.05, a price-to-earnings-growth ratio of 3.83 and a beta of 1.18. SAP SE has a twelve month low of $227.52 and a twelve month high of $313.28.

SAP (NYSE:SAP) last announced its quarterly earnings data on Wednesday, October 22nd. The software maker reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.17. The company had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $9.10 billion. SAP had a return on equity of 15.69% and a net margin of 19.50%.The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned $1.23 EPS. On average, research analysts anticipate that SAP SE will post 6.55 earnings per share 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.