SAP is engaged in selling licenses for software solutions and related support services. Co. derives its revenue from fees charged to its customers for the use of its cloud solutions and for licensing of on-premise software products and solutions. Additional sources of revenue are support, professional services, development, training, and other services. Co. has more than 300,000 customers in over 180 countries. Co.'s SAP HANA platform holds the ability to simplify both the user experience and the overall IT landscape, creating a smaller data footprint, increased system throughput, and easier data processing and operation.
  • TickerSAP
  • ISINDE0007164600
  • SectorSoftware & Computer Services
  • CountryGermany
Gregory Ramirez

Software, IT & High Tech services: New rating system: Atos upgraded to Conviction Buy, Nemetschek upgraded to Buy

Software, IT & High Tech services New rating system: Atos upgraded to Conviction Buy, Nemetschek upgraded to Buy Significant growth and margin potential drives Conviction Buys We upgrade Atos to Conviction Buy from Buy We upgrade Nemetschek to Buy from Neutral Economic recovery and cost cutting play for a positive stance

SAP Se: 1 director sold

A director at SAP Se sold 140 shares at 136.280EUR and the significance rating of the trade was 51/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board members a...

Charles Lepetitpas ...
  • Nicolas David

SAP : The upside on FCF makes up for the strategic uncertainty on Qualtrics

>Not too many surprises in the release - Yesterday morning, SAP released its final Q2 2020 results, confirming the good figures pre1eannounced on 8 July. The financial report provides the following details: i/ in the cloud, Qualtrics generated a good performance (+34% y-o-y at constant currencies). The business network showed growth of +19% at cc, penalised notably by transactional revenues for Concur (where revenues were down -5% at cc) and Ariba; ii/ the margin impro...

Charles Lepetitpas ...
  • Nicolas David

SAP : L’upside sur le FCF compense le flou stratégique lié à Qualtrics

>Une publication sans trop de surprises - SAP a publié hier matin ses résultats T2 2020 définitifs, confirmant les bons chiffres pre-annoncés le 8 juillet dernier. Le rapport financier fait ressortir les détails suivants : i/ dans le Cloud, Qualtrics réalise une bonne performance (+34% y/y à cc). Le Business Network affiche une croissance de +19% à cc, notamment pénalisé par les revenus transactionnels de Concur (dont le CA est en baisse de -5% à cc) et de Ariba ; ii/...

SAP SE - June 2020 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Research Department

BANCO SABADELL RECOMMENDED PORTFOLIO WEEK 23 TO 30 OCTOBER 2019 (ANÁLISIS BANCO SABADELL)

European Portfolio We lower Volkswagen’s weight and raise that of Airbus. European High Yield Portfolio Air Liquide, Allianz, Daimler, SAP & Vivendi No changes this week. Spanish Recommended Portfolio No changes this week. 5-Stock Recommended Portfolio ACS, Caixabank, Cellnex, Ferrovial & Telefónica No changes this week. 5 High-Yield Stock Portfolio Iberdrola, Merlin, Repsol, Santander & Telefónica No changes this week. Mid&Small Recommended Portfolio Applus, CAF, Dominion, Enagás, Ence, Indra, Logista, Másmóvil, Sacyr & Unicaja No changes this week.

Dave Nicoski ...
  • Ross LaDuke

Int'l Macro Vision: Sector Synopsis

Int'l Equity Strategy Global equities were on a tear in early January, continuing the trend that began in 4Q2019. As global equities started to get extended, the coronavirus outbreak hit in mid-January, leading to some market setbacks and deterioration in market indicators as global growth expectations were dialed-in. Despite this deterioration, what was important to us was that there were not any breakdowns. Even the areas of the market most-directly affected by the outbreak -- China (MSCI China) and EM (MSCI EM) -- were not breaking down. To us, this was a reassuring sign of underlying stre...

Dave Nicoski ...
  • Ross LaDuke

Int'l Macro Vision: Global Equity Strategy

Int'l Equity Strategy Global equities staged an impressive rally over the first four months of 2019. The nearly unabated advance allowed the broad major indexes (MSCI ACWI, ACWI ex-US, and EAFE) to break topside critical 14-month downtrends which began in January 2018. Heading into May, YTD uptrends were ubiquitous and market participants were generally of the belief that a US-China trade deal was a foregone conclusion. Then came Trump's May 5th tweets claiming China was attempting to renegotiate, and that tariffs would increase from 10% to 25%. The tariff escalation contributed to uptrend br...

Jérôme VINERIER

Short term view - SAP AG VZ : Falling prices.

The trend is bearish. Prices are falling again, but the movement has become hesitant. The next support is at €87.70. The bearish trend would be challenged above €108.30.

Jérôme VINERIER

Analyse court terme - SAP AG VZ : Les prix baissent.

La tendance est baissière. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 87,70 €. La tendance baissière serait remise en cause au-dessus de 108,30 €.

Jérôme VINERIER

Analyse court terme - SAP AG VZ : Le mouvement se poursuit.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 87,70 €, puis 81,00 €. Le franchissement de 108,30 € remettrait en cause la suite de la baisse.

SAP Se: 1 director sold

A director at SAP Se sold 140 shares at 136.280EUR and the significance rating of the trade was 51/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board members a...

Gregory Ramirez

Software, IT & High Tech services: New rating system: Atos upgraded to Conviction Buy, Nemetschek upgraded to Buy

Software, IT & High Tech services New rating system: Atos upgraded to Conviction Buy, Nemetschek upgraded to Buy Significant growth and margin potential drives Conviction Buys We upgrade Atos to Conviction Buy from Buy We upgrade Nemetschek to Buy from Neutral Economic recovery and cost cutting play for a positive stance

Charles Lepetitpas ...
  • Nicolas David

SAP : The upside on FCF makes up for the strategic uncertainty on Qualtrics

>Not too many surprises in the release - Yesterday morning, SAP released its final Q2 2020 results, confirming the good figures pre1eannounced on 8 July. The financial report provides the following details: i/ in the cloud, Qualtrics generated a good performance (+34% y-o-y at constant currencies). The business network showed growth of +19% at cc, penalised notably by transactional revenues for Concur (where revenues were down -5% at cc) and Ariba; ii/ the margin impro...

Charles Lepetitpas ...
  • Nicolas David

SAP : L’upside sur le FCF compense le flou stratégique lié à Qualtrics

>Une publication sans trop de surprises - SAP a publié hier matin ses résultats T2 2020 définitifs, confirmant les bons chiffres pre-annoncés le 8 juillet dernier. Le rapport financier fait ressortir les détails suivants : i/ dans le Cloud, Qualtrics réalise une bonne performance (+34% y/y à cc). Le Business Network affiche une croissance de +19% à cc, notamment pénalisé par les revenus transactionnels de Concur (dont le CA est en baisse de -5% à cc) et de Ariba ; ii/...

Gregory Ramirez

SAP | BUY | EUR162 vs. EUR137 Accelerating the cloud strategy without sacrificing margins

SAP | BUY | EUR162 vs. EUR137 Accelerating the cloud strategy without sacrificing margins We raise our Fair value to EUR162 on improved risk profile Qualtrics can accelerate its growth potential through an IPO Future strategy will be focused on Industry cloud solutions Free cash flow resists better than expected as of April

Charles Lepetitpas ...
  • Nicolas David

SAP : The upside on FCF makes up for the strategic uncertainty on Qualtrics

>Not too many surprises in the release - Yesterday morning, SAP released its final Q2 2020 results, confirming the good figures pre1eannounced on 8 July. The financial report provides the following details: i/ in the cloud, Qualtrics generated a good performance (+34% y-o-y at constant currencies). The business network showed growth of +19% at cc, penalised notably by transactional revenues for Concur (where revenues were down -5% at cc) and Ariba; ii/ the margin impro...

SAP SE - June 2020 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

SAP SE: Qualtrics IPO will be credit positive

This report comments on SAP's intended IPO of its Qualtrics business segment.

Moody's announces completion of a periodic review of ratings of SAP SE

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of SAP SE. Global Credit Research- 29 Jun 2020. Frankfurt am Main, June 29, 2020-- Moody's Investors Service has completed a periodic review of the ratings of SAP SE and other ratings that are associated with the same analytical unit.

Aarti Magan ...
  • Anil Passi
  • Reid Usher

DBRS Morningstar Assigns Rating of BBB (high), Stable Trend, to Saputo Inc.'s New Debt Issuance

Please refer to PDF document for more detail about our research: DBRS Morningstar Assigns Rating of BBB (high), Stable Trend, to Saputo Inc.'s New Debt Issuance

SAP SE - March 2020 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Jean Sassus ...
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 28/07/2020

...

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jean-Baptiste Rouphael
  • Marc Lavaud
  • Nicolas David
  • Olfa Taamallah
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/09/2020

The increase in Fortum’s stake in Uniper to 73.4% upends the two groups’ strategic priorities. In seeking to maintain an investment grade credit rating, Uniper might have to scale back its ambitions in terms of growth investments. In an environment where rivals are looking ahead to the future, Fortum and Uniper are uniting in adversity. We initiate coverage of Uniper with a Reduce rating and a target price of € 24.30. - Cf. company report published last evening. - ...

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jean-Baptiste Rouphael
  • Marc Lavaud
  • Nicolas David
  • Olfa Taamallah
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 09/07/2020

La montée de Fortum au capital d’Uniper à 73.4% rebat les cartes des priorités stratégiques des deux groupes. La volonté de maintenir la note de crédit en catégorie « investment grade » pourrait se traduire par une réduction des ambitions d’Uniper en matière d’investissements de croissance. Dans un environnement où les concurrents se projettent dans l’avenir, Fortum et Uniper sont en train de s’unir dans l’adversité. Nous initions le suivi d’Uniper avec une opinion Alléger et un OC de...

Alain William ...
  • Alexandre Iatrides
  • Charles Lepetitpas
  • Florent Laroche-Joubert
  • Jerôme Bodin
  • Nicolas David

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/16/2020

We reiterate our Buy recommendation on Bolloré, with a revised target price of € 3.8, reflecting upside of 38%. Despite poor visibility, we expect EBITA for Bolloré Transport & Logistics' EBITA to grow solidly as a result of robust growth in the ports business and also tight control of costs (fall in investments). A simplification operation, to increase the stake in Vivendi in the coming quarters, still seems plausible, in our view. - Cf. company report published today. - ...

SAP AG sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of SAP AG (DE), a company active in the Software industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date June 16, 2020, the closing price was EUR 118.16 and its potential was estimated at EUR 127.21.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the we...

Expert Corporate Governance Service (ECGS)

SAP – AGM 20 May 2020

WARNING: The AGM is to be held in the form of a virtual AGM in accordance with the German Act to Mitigate the Consequences of the COVID-19 Pandemic. The physical presence of shareholders or their authorised proxies is not possible. The voting rights may therefore be exercised solely by way of postal voting or by granting authority to the proxies designated by the Company.   Item 4: We note a high number of changes at Management Board level during 2019 and 2020, especially regarding the CEO position. This new hire-and-fire mentality at SAP leads us to question whether the Supervisory Board op...

Expert Corporate Governance Service (ECGS)

SAP - AGM 15 May 2019

Item 5: We recommend opposing the re-election of KPMG as auditor. While we have no concerns over the ratio of non-audit/audit fees we note that KPMG has audited the Company since the financial year 2002 which exceeds our maximum acceptable term of office of 10 years in case no audit tender has taken place after the initial engagement period which has not been disclosed by the Company.  Items 6a, 6b, 6e, 6f and 6g: We recommend to oppose the re-election of various Board members due to concerns over aggregate time commitments or independence concerns.

SAP SE – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch