Zacks Investment Research upgraded shares of SAP SE (NYSE:SAP) from a sell rating to a hold rating in a research note released on Tuesday.

According to Zacks, “SAP’s long-term growth drivers include resiliency of its Cloud and Software business, presence of a large business network and dominance over critical client demand areas, namely customer engagement and human capital management. Of late, growth of the company’s S/4HANA and other Cloud initiatives has been spectacular, which, in turn, has been boosting financials. Encouragingly, the stock has soared on the bourse over the last six months, outperforming the industry’s average gain. However, the company’s operating expenses have been on the rise over the past few quarters, which have hurt SAP’s margins and pressured profits. Intensifying competition in the IT services industry, sluggish global economy and currency fluctuations are affecting profits. Prolonged softness in certain end markets and inherent seasonality in clients’ technology spending exposes the company’s sales to risks of quarterly fluctuations.”

A number of other research analysts have also recently commented on the stock. DZ Bank AG reiterated a buy rating on shares of SAP SE in a research report on Wednesday, June 28th. Goldman Sachs Group, Inc. (The) reiterated a buy rating on shares of SAP SE in a research report on Monday, June 26th. Royal Bank Of Canada increased their price target on shares of SAP SE from $102.00 to $106.00 and gave the company a sector perform rating in a research report on Tuesday, July 18th. BidaskClub cut shares of SAP SE from a strong-buy rating to a buy rating in a research report on Monday, July 24th. Finally, BMO Capital Markets increased their price target on shares of SAP SE from $105.00 to $110.00 and gave the company a market perform rating in a research report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $94.84.

Shares of SAP SE (NYSE SAP) opened at 109.63 on Tuesday. SAP SE has a one year low of $80.93 and a one year high of $110.67. The company’s 50 day moving average is $106.54 and its 200 day moving average is $103.24. The company has a market capitalization of $131.44 billion, a price-to-earnings ratio of 31.93 and a beta of 1.12.

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SAP SE announced that its Board of Directors has approved a share repurchase program on Thursday, July 20th that allows the company to repurchase shares. This repurchase authorization allows the software maker to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

A number of hedge funds have recently made changes to their positions in the stock. Strategic Global Advisors LLC lifted its stake in SAP SE by 0.3% in the second quarter. Strategic Global Advisors LLC now owns 3,468 shares of the software maker’s stock worth $363,000 after acquiring an additional 12 shares during the period. Eaton Vance Management lifted its stake in SAP SE by 1.1% in the second quarter. Eaton Vance Management now owns 2,176 shares of the software maker’s stock worth $228,000 after acquiring an additional 23 shares during the period. Huntington National Bank lifted its stake in SAP SE by 1.6% in the second quarter. Huntington National Bank now owns 1,548 shares of the software maker’s stock worth $162,000 after acquiring an additional 24 shares during the period. Level Four Advisory Services LLC lifted its stake in SAP SE by 0.4% in the first quarter. Level Four Advisory Services LLC now owns 6,023 shares of the software maker’s stock worth $589,000 after acquiring an additional 26 shares during the period. Finally, Sawtooth Solutions LLC lifted its stake in SAP SE by 1.4% in the second quarter. Sawtooth Solutions LLC now owns 3,855 shares of the software maker’s stock worth $404,000 after acquiring an additional 52 shares during the period. 3.56% of the stock is owned by institutional investors.

SAP SE Company Profile

SAP SE (SAP) is a software and service provider. The Company offers enterprise application software. The Company operates through two segments: Applications, Technology & Services segment, and the SAP Business Network segment. The Applications, Technology & Services segment is engaged in the sale of software licenses, subscriptions to its cloud applications, and related services (primarily support services and various professional services, and support services, as well as implementation services of its software products and education services on the use of its products).

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