Is SAP SE (SAP) a Resilient Stock?

Polen Capital, an investment management company, released its “Polen Global Growth Strategy” first-quarter 2023 investor letter. A copy of the same can be downloaded here. The fund returned 11.37% net in the first quarter compared to a return of 7.31% for the MSCI ACW Index. Global equity markets were volatile in the first quarter. The market rewarded quality fundamentals in January, and fear of inflation and central bank policy reemerged in February. However, despite the banking crisis, quality fundamentals were rewarded again in March. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Polen Global Growth Strategy 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 April 24, 2023, SAP SE (NYSE:SAP) stock closed at $132.54 per share. One-month return of SAP SE (NYSE:SAP) was 7.35%, and its shares gained 32.82% of their value over the last 52 weeks. SAP SE (NYSE:SAP) has a market capitalization of $154.69 billion.

Polen Global Growth Strategy made the following comment about SAP SE (NYSE:SAP) in its Q1 2023 investor letter:

“SAP SE (NYSE:SAP) has a long-term vision for a cloud transition, and this strategy is beginning to bear fruit. The cloud backlog and cloud sales are both accelerating, as well as margins inflecting higher in the most recent quarter. It appears that the company is past the tipping point with respect to the transition, and we believe the growth is proving to be durable, despite the macroeconomic environment. We think the company can grow free cash flow per share in the mid-teens. even in a tough environment.”

Copyright: gmast3r / 123RF Stock Photo

SAP SE (NYSE:SAP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held SAP SE (NYSE:SAP) at the end of the fourth quarter which was 17 in the previous quarter.

We discussed SAP SE (NYSE:SAP) in another article and shared VGI Partners’ views on the company. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

• 12 Best Environmental Dividend Stocks To Buy
• 20 Biggest Chemical Companies in the World
• 20 Largest Manufacturing Companies in the World

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