SAP (NYSE:SAP) Given New $214.00 Price Target at TD Cowen

SAP (NYSE:SAP) had its target price hoisted by TD Cowen from $188.00 to $214.00 in a report issued on Tuesday morning, Benzinga reports. TD Cowen currently has a hold rating on the software maker’s stock.

SAP has been the topic of several other research reports. BMO Capital Markets lifted their price objective on SAP from $237.00 to $248.00 and gave the stock an outperform rating in a report on Tuesday. Barclays decreased their price objective on SAP from $212.00 to $210.00 and set an overweight rating on the stock in a report on Wednesday, April 24th. JMP Securities lifted their price objective on SAP from $220.00 to $245.00 and gave the stock a market outperform rating in a report on Tuesday. StockNews.com downgraded SAP from a strong-buy rating to a buy rating in a report on Thursday, April 18th. Finally, Sanford C. Bernstein started coverage on SAP in a report on Thursday, May 23rd. They issued an outperform rating and a $227.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, SAP currently has an average rating of Moderate Buy and a consensus target price of $225.17.

SAP Stock Performance

Shares of SAP stock traded down $4.67 during trading hours on Tuesday, reaching $210.09. The company had a trading volume of 1,030,343 shares, compared to its average volume of 774,746. SAP has a one year low of $126.75 and a one year high of $214.94. The business has a fifty day simple moving average of $195.41 and a 200 day simple moving average of $186.54. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.25 and a quick ratio of 1.25.

SAP (NYSE:SAP) last issued its quarterly earnings results on Monday, July 22nd. The software maker reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.09. SAP had a return on equity of 10.87% and a net margin of 7.74%. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.25 billion. During the same quarter in the previous year, the company posted $0.71 earnings per share. The company’s revenue was up 9.7% compared to the same quarter last year. Research analysts anticipate that SAP will post 4.56 earnings per share for the current fiscal year.

Institutional Trading of SAP

A number of hedge funds have recently made changes to their positions in SAP. &PARTNERS lifted its position in SAP by 220.3% in the 2nd quarter. &PARTNERS now owns 6,566 shares of the software maker’s stock valued at $1,325,000 after acquiring an additional 4,516 shares in the last quarter. Private Advisory Group LLC bought a new position in SAP in the 2nd quarter valued at approximately $3,597,000. Fifth Third Wealth Advisors LLC lifted its position in SAP by 11.0% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 1,149 shares of the software maker’s stock valued at $232,000 after acquiring an additional 114 shares in the last quarter. Prossimo Advisors LLC purchased a new stake in SAP during the 2nd quarter valued at $441,000. Finally, Aaron Wealth Advisors LLC raised its stake in SAP by 7.3% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 6,715 shares of the software maker’s stock valued at $1,354,000 after buying an additional 455 shares during 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.