SAP SE (NYSE:SAP) declared that its board has authorized a share buyback program, which permits the company to buyback shares on Thursday, July 20th, EventVestor reports. This buyback authorization permits the software maker to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
SAP SE (NYSE:SAP) opened at 103.69 on Tuesday. The company has a market cap of $124.32 billion, a P/E ratio of 31.49 and a beta of 1.12. SAP SE has a 12-month low of $80.93 and a 12-month high of $108.72. The stock’s 50 day moving average is $105.31 and its 200 day moving average is $98.97.
A number of research firms have weighed in on SAP. Morgan Stanley reissued a “buy” rating on shares of SAP SE in a research report on Thursday, April 13th. William Blair cut their target price on shares of SAP SE from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, April 17th. UBS AG lowered shares of SAP SE from a “buy” rating to a “neutral” rating in a research report on Monday, March 27th. CIBC boosted their target price on shares of SAP SE from $107.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, June 12th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $115.00 target price (up previously from $107.00) on shares of SAP SE in a research report on Friday, June 9th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $95.69.
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About SAP SE
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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