OLD National Bancorp IN Sells 152 Shares of SAP SE (NYSE:SAP)

OLD National Bancorp IN reduced its stake in SAP SE (NYSE:SAP) by 7.2% during the second quarter, Holdings Channel.com reports. The firm owned 1,945 shares of the software maker’s stock after selling 152 shares during the period. OLD National Bancorp IN’s holdings in SAP were worth $392,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new position in shares of SAP in the first quarter worth $25,000. LRI Investments LLC purchased a new position in shares of SAP in the first quarter valued at about $25,000. Sunbelt Securities Inc. bought a new position in shares of SAP during the first quarter valued at about $29,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of SAP during the fourth quarter worth about $31,000. Finally, Adirondack Trust Co. grew its stake in shares of SAP by 121.1% in the fourth quarter. Adirondack Trust Co. now owns 199 shares of the software maker’s stock worth $31,000 after purchasing an additional 109 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SAP. TD Cowen increased their price objective on SAP from $188.00 to $214.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. StockNews.com lowered SAP from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 18th. JMP Securities boosted their price objective on shares of SAP from $220.00 to $245.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 23rd. Sanford C. Bernstein initiated coverage on shares of SAP in a research report on Thursday, May 23rd. They issued an “outperform” rating and a $227.00 target price for the company. Finally, BMO Capital Markets increased their price target on shares of SAP from $237.00 to $248.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $225.17.

SAP Price Performance

NYSE SAP traded up $2.25 during trading hours on Friday, reaching $208.53. 593,303 shares of the company’s stock traded hands, compared to its average volume of 938,045. SAP SE has a 52-week low of $126.75 and a 52-week high of $214.94. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The firm has a 50-day simple moving average of $199.37 and a 200 day simple moving average of $190.57.

SAP (NYSE:SAP) last issued its quarterly earnings results on Monday, July 22nd. The software maker reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.09. SAP had a return on equity of 10.98% and a net margin of 7.74%. The firm had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.25 billion. During the same period in the previous year, the firm posted $0.71 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities analysts anticipate that SAP SE will post 4.75 EPS for the current year.

SAP Company Profile

SAP SE, together with its subsidiaries, provides applications, technology, and services worldwide. It offers SAP S/4HANA that provides software capabilities for finance, risk and project management, procurement, manufacturing, supply chain and asset management, and research and development; SAP SuccessFactors solutions for human resources, including HR and payroll, talent and employee experience management, and people and workforce analytics; and spend management solutions that covers direct and indirect spend, travel and expense, and external workforce management.