SAP SE (SAP) Stake Boosted by Checchi Capital Advisers LLC
Checchi Capital Advisers LLC boosted its position in SAP SE (NYSE:SAP) by 16.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,826 shares of the software maker’s stock after buying an additional 1,089 shares during the period. Checchi Capital Advisers LLC’s holdings in SAP SE were worth $819,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. Morgan Stanley increased its stake in shares of SAP SE by 101.2% in the first quarter. Morgan Stanley now owns 1,659,689 shares of the software maker’s stock worth $162,933,000 after buying an additional 834,600 shares during the period. Bank of America Corp DE increased 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 worth $251,830,000 after buying an additional 696,447 shares during the period. Harbour Capital Advisors LLC increased its stake in shares of SAP SE by 10,198.2% in the second quarter. Harbour Capital Advisors LLC now owns 478,865 shares of the software maker’s stock worth $4,575,000 after buying an additional 474,215 shares during the period. Russell Investments Group Ltd. increased its stake in shares of SAP SE by 42.9% in the first quarter. Russell Investments Group Ltd. now owns 943,717 shares of the software maker’s stock worth $92,649,000 after buying an additional 283,230 shares during the period. Finally, Karp Capital Management Corp purchased a new stake in shares of SAP SE during the first quarter worth about $25,030,000. 3.71% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SAP SE (NYSE:SAP) opened at 105.70 on Tuesday. The company’s 50-day moving average is $105.10 and its 200 day moving average is $100.68. The firm has a market capitalization of $126.72 billion, a PE ratio of 31.18 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 has approved a share buyback plan on Thursday, July 20th that authorizes the company to buyback shares. This buyback authorization authorizes the software maker to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
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SAP has been the topic of a number of recent analyst reports. DZ Bank AG reissued a “buy” rating on shares of SAP SE in a report on Wednesday, June 28th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of SAP SE in a report on Monday, June 26th. Zacks Investment Research downgraded shares of SAP SE from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Stifel Nicolaus downgraded shares of SAP SE from a “hold” rating to a “sell” rating and set a $102.13 price target on the stock. in a report on Wednesday, April 26th. Finally, William Blair decreased their price objective on shares of SAP SE from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, April 17th. 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 company’s stock. The company has an average rating of “Buy” and a consensus 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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