Connable Office Inc. Makes New $1.69 Million Investment in SAP SE (NYSE:SAP)

Connable Office Inc. acquired a new position in shares of SAP SE (NYSE:SAP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,868 shares of the software maker’s stock, valued at approximately $1,691,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Centricity Wealth Management LLC acquired a new position in shares of SAP in the fourth quarter worth about $25,000. Union Bancaire Privee UBP SA acquired a new position in shares of SAP in the fourth quarter worth about $27,000. Albion Financial Group UT lifted its stake in shares of SAP by 122.4% in the fourth quarter. Albion Financial Group UT now owns 129 shares of the software maker’s stock worth $32,000 after acquiring an additional 71 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of SAP in the third quarter worth about $42,000. Finally, Financial Management Professionals Inc. lifted its stake in shares of SAP by 104.0% in the fourth quarter. Financial Management Professionals Inc. now owns 202 shares of the software maker’s stock worth $50,000 after acquiring an additional 103 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JMP Securities boosted their price target on SAP from $300.00 to $330.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 29th. Kepler Capital Markets raised SAP from a “hold” rating to a “buy” rating in a report on Wednesday, January 15th. TD Cowen raised SAP from a “hold” rating to a “buy” rating and boosted their price objective for the company from $240.00 to $305.00 in a report on Friday, January 17th. Barclays boosted their price objective on SAP from $283.00 to $286.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $38.00 price objective on shares of SAP in a report on Thursday, January 30th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $248.83.

SAP Stock Up 0.4 %

NYSE:SAP opened at $275.68 on Friday. The firm has a market capitalization of $338.68 billion, a PE ratio of 96.06, a price-to-earnings-growth ratio of 4.71 and a beta of 1.23. The stock has a 50 day moving average of $269.19 and a 200-day moving average of $243.84. SAP SE has a 52 week low of $175.08 and a 52 week high of $293.70. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.16.

SAP (NYSE:SAP) last posted its earnings results on Tuesday, January 28th. The software maker reported $1.49 EPS for the quarter, missing the consensus estimate of $1.51 by ($0.02). SAP had a net margin of 9.17% and a return on equity of 12.18%. Analysts predict that SAP SE will post 6.55 EPS 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.