SAP SE (NYSE:SAP) Stake Reduced by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC trimmed its stake in SAP SE (NYSE:SAP) by 32.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,247 shares of the software maker’s stock after selling 610 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in SAP were worth $252,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SAP. Apollon Wealth Management LLC bought a new stake in SAP in the 4th quarter valued at about $492,000. Cetera Advisors LLC raised its holdings in shares of SAP by 113.3% during the first quarter. Cetera Advisors LLC now owns 15,069 shares of the software maker’s stock valued at $2,939,000 after buying an additional 8,003 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of SAP by 21.1% during the first quarter. BNP Paribas Financial Markets now owns 26,359 shares of the software maker’s stock worth $5,141,000 after buying an additional 4,596 shares during the period. Wealthspire Advisors LLC bought a new position in SAP in the 1st quarter worth approximately $237,000. Finally, CWM LLC increased its position in SAP by 9.1% in the 2nd quarter. CWM LLC now owns 2,867 shares of the software maker’s stock valued at $578,000 after acquiring an additional 240 shares during the period.

Analyst Upgrades and Downgrades

SAP has been the subject of several research analyst reports. BMO Capital Markets upped their price objective on shares of SAP from $237.00 to $248.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Sanford C. Bernstein started coverage on shares of SAP in a research note on Thursday, May 23rd. They set an “outperform” rating and a $227.00 target price for the company. Argus upgraded shares of SAP from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. StockNews.com cut SAP from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 18th. Finally, Barclays raised their price objective on SAP from $217.00 to $251.00 and gave the stock an “overweight” rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $232.00.

SAP Stock Up 0.6 %

Shares of SAP traded up $1.32 during mid-day trading on Friday, reaching $216.26. The company’s stock had a trading volume of 393,320 shares, compared to its average volume of 780,540. The company has a market cap of $255.10 billion, a price-to-earnings ratio of 46.63, a price-to-earnings-growth ratio of 4.12 and a beta of 1.25. The business has a fifty day moving average of $201.25 and a 200 day moving average of $191.67. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. SAP SE has a 1 year low of $126.75 and a 1 year high of $217.10.

SAP (NYSE:SAP) last posted its quarterly earnings results on Monday, July 22nd. The software maker reported $1.10 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $8.25 billion. During the same period in the previous year, the firm earned $0.71 earnings per share. SAP’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, analysts forecast that SAP SE will post 4.75 earnings per share for the current fiscal 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.