Do You Believe in the Growth Prospects of SAP SE (SAP)?

Investment management company Ave Maria recently released its “Ave Maria World Equity Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund returned 6.87% compared to the MSCI All Country World Index’s 7.30% return. You can check the top 5 holdings of the fund to know its best picks in 2023.

Ave Maria World Equity Fund highlighted stocks like SAP SE (NYSE:SAP) in the first quarter 2023 investor letter. Headquartered in Walldorf, Germany, SAP SE (NYSE:SAP) is an enterprise application software products provider. On June 7, 2023, SAP SE (NYSE:SAP) stock closed at $131.70 per share. One-month return of SAP SE (NYSE:SAP) was -2.32%, and its shares gained 31.88% of their value over the last 52 weeks. SAP SE (NYSE:SAP) has a market capitalization of $154.668 billion.

Ave Maria World Equity Fund made the following comment about SAP SE (NYSE:SAP) in its Q1 2023 investor letter:

“SAP SE (NYSE:SAP) provides enterprise application software products worldwide. SAP is successfully transitioning from a perpetual license model to a SAAS model, which we believe will lead to an increase in TAM (total addressable market), higher margins and lower capital intensity.”

Software

SAP SE (NYSE:SAP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held SAP SE (NYSE:SAP) at the end of first quarter 2023 which was 18 in the previous quarter.

We discussed SAP SE (NYSE:SAP) in another article and shared the list of best artificial intelligence stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.