SAP buys back 590,000 shares as SAP stock trades 23.06 percent below its 52-week high

Published on 10/05/2026 at 12:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Cloud backlog rose 27.00 percent to EUR 22.90 billion in the second quarter of 2026. SAP stock costs EUR 185.70 on October 5, 2026 versus EUR 184.69.

SAP SE (DE0007164600) Bauhaus-Poster mit stilisierten Datenfluss-Pfeilen in Blau, Orange und Weiß, Illustration mit AI erstellt.

SAP SE (ISIN DE0007164600) bought back 590,000 shares for EUR 108.37 million in transactions covering September 21-25, 2026, Börse Express reported on October 1, 2026. At EUR 185.70 at Lang & Schwarz on October 5, 2026 at 12:42 p.m. CEST, SAP stock stood 23.06 percent below its EUR 241.35 52-week high. The 2026 program had reached 8,895,886 repurchased shares.

Buyback reaches 8.90 million shares

The latest purchase adds a measurable capital-return signal ahead of SAP's third-quarter report. The EUR 108.37 million transaction represents 590,000 shares, while the cumulative 2026 volume gives the program a clear scale of 8.90 million shares.

The comparison with the share price matters for investors: the stock was EUR 1.01 above its Lang & Schwarz prior close of EUR 184.69, equal to a daily gain of 0.55 percent. That move is modest beside the 23.06 percent gap to the yearly high, leaving the earnings report as the more consequential near-term reference point.

Cloud backlog grows 27 percent

SAP's investor-relations page says its second-quarter and half-year 2026 results, published July 23, 2026, showed current cloud backlog of EUR 22.90 billion, up 27.00 percent. Cloud revenue increased 22.00 percent, while total revenue rose 9.00 percent and IFRS operating profit increased 8.00 percent, according to SAP.

The operating picture therefore combines double-digit cloud expansion with a slower total-revenue increase. The next report will show whether cloud demand and the recent AI investments are translating into the operating metrics that the market is waiting to assess.

Analyst target reaches EUR 220

MarketScreener reported on September 22, 2026 that Jefferies raised its SAP target from EUR 210.00 to EUR 220.00 and maintained a Buy rating. The new target lies 18.47 percent above the Lang & Schwarz price of EUR 185.70, using the same euro currency.

Markets Insider also reported on September 22, 2026 that Citi lifted its target from EUR 205.00 to EUR 215.00 and kept a Buy rating. SAP's investor-relations calendar schedules third-quarter 2026 results for October 21, 2026 at 10:05 p.m. CET, followed by an analyst and investor conference call at 11:00 p.m. CET.

October report sets the next test

SAP's share repurchases provide support for capital allocation, but the valuation discussion now turns on execution. The key comparison is between the 27.00 percent cloud-backlog growth in the second quarter and the stock's 23.06 percent distance from its 52-week high.

SAP stock was trading at EUR 185.70 at Lang & Schwarz on October 5, 2026 at 12:42 p.m. CEST, plus 0.55 percent versus the prior close of EUR 184.69 on October 2, 2026. The further course of trading is shown by the continuously updated real-time quote of SAP stock.