Canandaigua National Bank & Trust Co. Boosts Position in SAP SE (NYSE:SAP)

Canandaigua National Bank & Trust Co. boosted its stake in SAP SE (NYSE:SAP) by 31.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,346 shares of the software maker’s stock after buying an additional 1,275 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in SAP were worth $1,316,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Godsey & Gibb Inc. bought a new stake in SAP during the third quarter worth about $25,000. Brooklyn Investment Group bought a new stake in SAP in the 3rd quarter worth approximately $42,000. Prospera Private Wealth LLC purchased a new stake in SAP during the 3rd quarter valued at $47,000. Versant Capital Management Inc bought a new position in shares of SAP during the 4th quarter valued at $54,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of SAP in the 3rd quarter worth $59,000.

Analysts Set New Price Targets

A number of research firms have weighed in on SAP. Barclays increased their target price on SAP from $252.00 to $275.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. BMO Capital Markets raised their price objective on shares of SAP from $248.00 to $265.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. TD Cowen upped their target price on shares of SAP from $234.00 to $240.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, JMP Securities lifted their price target on shares of SAP from $245.00 to $300.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, SAP presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.33.

SAP Stock Performance

Shares of NYSE SAP opened at $246.75 on Tuesday. The stock has a market cap of $303.13 billion, a PE ratio of 98.70, a price-to-earnings-growth ratio of 4.94 and a beta of 1.22. SAP SE has a 1 year low of $151.16 and a 1 year high of $256.13. The firm has a fifty day moving average price of $242.19 and a 200-day moving average price of $224.67. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.10 and a quick ratio of 1.10.

SAP (NYSE:SAP) last issued its quarterly earnings results on Monday, October 21st. The software maker reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.08). SAP had a return on equity of 11.44% and a net margin of 8.15%. The business had revenue of $8.47 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the previous year, the company posted $1.20 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Equities analysts anticipate that SAP SE will post 4.8 earnings per share for the current fiscal year.

SAP Company Profile

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.