Short Interest in SAP SE (NYSE:SAP) Drops By 37.4%
by Mitch Edgeman · The Markets DailySAP SE (NYSE:SAP – Get Free Report) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 5,026,190 shares, a decrease of 37.4% from the August 15th total of 8,024,204 shares. Based on an average trading volume of 2,432,692 shares, the days-to-cover ratio is currently 2.1 days. Currently, 0.4% of the shares of the stock are sold short.
SAP Trading Down 1.7%
Shares of NYSE:SAP traded down $3.72 during trading on Friday, hitting $209.94. The company had a trading volume of 1,284,197 shares, compared to its average volume of 3,078,365. The stock has a market cap of $257.91 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 2.54 and a beta of 1.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 1.15. The company has a fifty day simple moving average of $195.81 and a two-hundred day simple moving average of $181.18. SAP has a one year low of $144.97 and a one year high of $281.36.
SAP (NYSE:SAP – Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The software maker reported $1.82 EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.18). The firm had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.30 billion. SAP had a return on equity of 17.07% and a net margin of 20.88%.SAP’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.50 earnings per share. As a group, equities analysts forecast that SAP will post 8.17 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC lifted its holdings in SAP by 18.5% during the second quarter. Tidal Investments LLC now owns 1,214,315 shares of the software maker’s stock worth $187,138,000 after buying an additional 189,591 shares during the period. BlueCrest Capital Management Ltd acquired a new position in SAP in the 2nd quarter worth approximately $364,000. WINTON GROUP Ltd lifted its position in SAP by 45.1% during the second quarter. WINTON GROUP Ltd now owns 11,780 shares of the software maker’s stock valued at $1,815,000 after purchasing an additional 3,660 shares during the period. Capital Analysts LLC boosted its stake in shares of SAP by 12.3% in the second quarter. Capital Analysts LLC now owns 1,243 shares of the software maker’s stock worth $192,000 after buying an additional 136 shares during the last quarter. Finally, RFG Advisory LLC lifted its holdings in SAP by 42.1% in the second quarter. RFG Advisory LLC now owns 3,072 shares of the software maker’s stock valued at $473,000 after acquiring an additional 910 shares during the period.
Analyst Ratings Changes
Several brokerages have commented on SAP. Citigroup reiterated a “buy” rating on shares of SAP in a research note on Thursday, August 27th. Weiss Ratings raised SAP from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. UBS Group cut SAP from a “buy” rating to a “neutral” rating in a report on Wednesday, August 26th. Morgan Stanley reiterated an “overweight” rating on shares of SAP in a research report on Friday, August 21st. Finally, TD Cowen reissued a “buy” rating on shares of SAP in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $255.67.
View Our Latest Stock Report on SAP
SAP Company Profile
SAP SE is a German enterprise software company headquartered in Walldorf, Germany. The company develops technology that helps organizations manage core business operations, including finance, procurement, supply chain, manufacturing, human resources, sales and customer relationships.
SAP’s portfolio is centered on its cloud-based enterprise resource planning platform, SAP S/4HANA, along with the SAP Business Technology Platform. Its products and services also include SAP SuccessFactors for human resources, SAP Ariba for business-to-business procurement, SAP Concur for travel and expense management, and solutions for customer experience, data management, analytics and artificial intelligence.
SAP was founded in 1972 by five former IBM employees and has grown into a global provider of business software.