SAP (NYSE:SAP) Shares Gap Down – Here’s What Happened

SAP SE (NYSE:SAP) shares gapped down prior to trading on Wednesday . The stock had previously closed at $280.23, but opened at $272.65. SAP shares last traded at $271.54, with a volume of 277,865 shares trading hands.

Wall Street Analyst Weigh In

SAP has been the topic of a number of recent analyst reports. JMP Securities raised their price target on shares of SAP from $300.00 to $330.00 and gave the company a “market outperform” rating in a report on Wednesday, January 29th. BMO Capital Markets boosted their target price on shares of SAP from $265.00 to $307.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. TD Cowen upgraded SAP from a “hold” rating to a “buy” rating and boosted their price target for the company from $240.00 to $305.00 in a research note on Friday, January 17th. Barclays upped their price objective on shares of SAP from $283.00 to $286.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, Kepler Capital Markets upgraded SAP from a “hold” rating to a “buy” rating in a research note on Wednesday, January 15th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $248.83.

SAP Trading Up 0.1 %

The company’s fifty day simple moving average is $276.95 and its 200-day simple moving average is $251.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.12 and a quick ratio of 1.10. The firm has a market capitalization of $329.43 billion, a PE ratio of 93.43, a P/E/G ratio of 4.71 and a beta of 1.25.

SAP (NYSE:SAP) last released its quarterly earnings data on Tuesday, January 28th. The software maker reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($0.02). SAP had a return on equity of 12.18% and a net margin of 9.17%. As a group, sell-side analysts expect that SAP SE will post 6.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SAP

A number of hedge funds have recently modified their holdings of SAP. Fisher Asset Management LLC raised its stake in shares of SAP by 8.6% in the 4th quarter. Fisher Asset Management LLC now owns 5,118,138 shares of the software maker’s stock valued at $1,260,137,000 after acquiring an additional 403,956 shares during the period. TD Asset Management Inc. boosted its position in shares of SAP by 125.0% during the fourth quarter. TD Asset Management Inc. now owns 1,602,548 shares of the software maker’s stock worth $394,563,000 after buying an additional 890,157 shares during the period. Northern Trust Corp grew its stake in shares of SAP by 91.2% in the fourth quarter. Northern Trust Corp now owns 1,471,798 shares of the software maker’s stock valued at $362,371,000 after buying an additional 701,880 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of SAP by 145.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,346,506 shares of the software maker’s stock valued at $331,523,000 after buying an additional 798,037 shares during the period. Finally, Bank of America Corp DE lifted its stake in SAP by 5.7% during the 4th quarter. Bank of America Corp DE now owns 1,314,814 shares of the software maker’s stock worth $323,720,000 after acquiring an additional 70,613 shares in the last quarter.

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.