SAP SE (NYSE:SAP) Shares Sold by Pitcairn Co.

Pitcairn Co. lowered its holdings in SAP SE (NYSE:SAP) by 16.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,336 shares of the software maker’s stock after selling 2,479 shares during the period. Pitcairn Co.’s holdings in SAP were worth $2,826,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cetera Advisors LLC grew its stake in shares of SAP by 113.3% in the 1st quarter. Cetera Advisors LLC now owns 15,069 shares of the software maker’s stock worth $2,939,000 after purchasing an additional 8,003 shares during the last quarter. Creative Planning grew its stake in shares of SAP by 18.0% in the 3rd quarter. Creative Planning now owns 95,434 shares of the software maker’s stock worth $21,864,000 after purchasing an additional 14,546 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in shares of SAP in the 3rd quarter worth approximately $3,780,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of SAP by 644.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 164,330 shares of the software maker’s stock worth $37,648,000 after acquiring an additional 142,270 shares in the last quarter. Finally, Dash Acquisitions Inc. increased its position in shares of SAP by 2.8% in the third quarter. Dash Acquisitions Inc. now owns 80,100 shares of the software maker’s stock worth $19,039,000 after acquiring an additional 2,175 shares in the last quarter.

SAP Stock Performance

Shares of SAP opened at $236.21 on Friday. The company’s 50 day moving average price is $230.65 and its 200 day moving average price is $212.06. SAP SE has a 52 week low of $148.38 and a 52 week high of $243.01. The company has a market capitalization of $290.18 billion, a PE ratio of 94.48, a PEG ratio of 4.53 and a beta of 1.25. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.10 and a current ratio of 1.10.

SAP (NYSE:SAP) last announced its quarterly earnings data on Monday, October 21st. The software maker reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.08). The company had revenue of $8.47 billion for the quarter, compared to analysts’ expectations of $9.25 billion. SAP had a net margin of 8.15% and a return on equity of 11.44%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 earnings per share. Research analysts expect that SAP SE will post 4.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SAP. TD Cowen lifted their target price on shares of SAP from $234.00 to $240.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. JMP Securities lifted their target price on shares of SAP from $245.00 to $300.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 22nd. Argus raised shares of SAP from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Barclays lifted their target price on shares of SAP from $252.00 to $275.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets lifted their target price on shares of SAP from $248.00 to $265.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, SAP currently has an average rating of “Moderate Buy” and an average target price of $252.33.

SAP 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.