Envestnet Asset Management Inc. Cuts Stake in SAP SE $SAP

Envestnet Asset Management Inc. reduced its stake in shares of SAP SE (NYSE:SAP) by 4.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 969,185 shares of the software maker’s stock after selling 40,833 shares during the period. Envestnet Asset Management Inc.’s holdings in SAP were worth $294,729,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Central Pacific Bank Trust Division purchased a new position in shares of SAP in the second quarter valued at $920,000. Modern Wealth Management LLC grew its holdings in shares of SAP by 292.2% in the first quarter. Modern Wealth Management LLC now owns 4,663 shares of the software maker’s stock valued at $1,252,000 after purchasing an additional 3,474 shares in the last quarter. Ascent Group LLC grew its holdings in shares of SAP by 196.3% in the first quarter. Ascent Group LLC now owns 4,175 shares of the software maker’s stock valued at $1,121,000 after purchasing an additional 2,766 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of SAP by 6.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,318,908 shares of the software maker’s stock valued at $354,048,000 after purchasing an additional 80,164 shares in the last quarter. Finally, Bain Capital Public Equity Management II LLC purchased a new position in shares of SAP in the first quarter valued at $13,869,000.

Wall Street Analysts Forecast Growth

SAP has been the subject of a number of recent research reports. Cowen reissued a “buy” rating on shares of SAP in a report on Thursday. Wall Street Zen lowered shares of SAP from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Barclays lifted their price objective on shares of SAP from $322.00 to $348.00 and gave the stock an “overweight” rating in a research note on Friday. Argus reaffirmed a “buy” rating and set a $320.00 price objective on shares of SAP in a research note on Friday. Finally, Oddo Bhf raised shares of SAP from a “neutral” rating to an “outperform” rating in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $284.33.

SAP Stock Down 3.4%

NYSE:SAP opened at $269.11 on Monday. SAP SE has a twelve month low of $227.52 and a twelve month high of $313.28. The company has a market cap of $330.61 billion, a price-to-earnings ratio of 40.29, a price-to-earnings-growth ratio of 3.97 and a beta of 1.28. The stock has a fifty day simple moving average of $269.42 and a 200-day simple moving average of $283.67. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.15.

SAP (NYSE:SAP) last released its earnings results on Wednesday, October 22nd. The software maker reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.17. SAP had a return on equity of 15.87% and a net margin of 19.50%.The business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same period last year, the company earned $1.23 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Analysts anticipate that SAP SE will post 6.55 EPS for the current year.

About SAP

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.