Principal Financial Group Inc. Acquires 179,040 Shares of SAP SE $SAP

Principal Financial Group Inc. raised its holdings in SAP SE (NYSE:SAP) by 48.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 550,531 shares of the software maker’s stock after purchasing an additional 179,040 shares during the period. Principal Financial Group Inc.’s holdings in SAP were worth $94,257,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Binnacle Investments Inc boosted its holdings in SAP by 14.2% in the 3rd quarter. Binnacle Investments Inc now owns 338 shares of the software maker’s stock worth $90,000 after buying an additional 42 shares during the period. Spire Wealth Management lifted its position in shares of SAP by 6.2% during the fourth quarter. Spire Wealth Management now owns 740 shares of the software maker’s stock worth $180,000 after acquiring an additional 43 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of SAP by 1.0% during the second quarter. Thrivent Financial for Lutherans now owns 4,495 shares of the software maker’s stock worth $1,355,000 after acquiring an additional 43 shares in the last quarter. Euro Pacific Asset Management LLC boosted its holdings in shares of SAP by 5.7% in the fourth quarter. Euro Pacific Asset Management LLC now owns 870 shares of the software maker’s stock worth $213,000 after acquiring an additional 47 shares during the period. Finally, Modera Wealth Management LLC grew its position in shares of SAP by 1.2% in the fourth quarter. Modera Wealth Management LLC now owns 3,912 shares of the software maker’s stock valued at $950,000 after purchasing an additional 48 shares in the last quarter.

Wall Street Analyst Weigh In

SAP has been the topic of a number of recent research reports. The Goldman Sachs Group reissued a “buy” rating and set a $265.00 price objective on shares of SAP in a report on Wednesday, June 10th. Barclays lifted their target price on SAP from $256.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Piper Sandler downgraded shares of SAP from an “overweight” rating to a “neutral” rating in a report on Tuesday, April 14th. Santander upgraded shares of SAP from a “neutral” rating to an “outperform” rating in a research report on Friday, April 24th. Finally, TD Cowen reaffirmed a “buy” rating on shares of SAP in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, SAP has a consensus rating of “Moderate Buy” and an average price target of $283.40.

SAP Price Performance

NYSE:SAP opened at $156.00 on Thursday. SAP SE has a 52-week low of $148.06 and a 52-week high of $309.73. The stock has a fifty day moving average of $167.41 and a 200 day moving average of $188.34. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $191.65 billion, a price-to-earnings ratio of 21.08, a P/E/G ratio of 1.77 and a beta of 1.14.

SAP (NYSE:SAP) last announced its earnings results on Friday, February 27th. The software maker reported $1.99 earnings per share for the quarter. SAP had a return on equity of 17.31% and a net margin of 20.08%.The business had revenue of $11.06 billion for the quarter. On average, research analysts expect that SAP SE will post 8.3 EPS for the current fiscal year.

SAP Company Profile

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.