Procyon Advisors LLC Cuts Stake in SAP SE (NYSE:SAP)

Procyon Advisors LLC trimmed its holdings in shares of SAP SE (NYSE:SAP) by 12.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,522 shares of the software maker’s stock after selling 1,714 shares during the period. Procyon Advisors LLC’s holdings in SAP were worth $3,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in SAP. American Century Companies Inc. grew its stake in SAP by 5.6% during the 2nd quarter. American Century Companies Inc. now owns 76,077 shares of the software maker’s stock valued at $15,346,000 after purchasing an additional 4,037 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in SAP by 0.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 129,213 shares of the software maker’s stock worth $26,064,000 after buying an additional 773 shares during the period. Dimensional Fund Advisors LP raised its position in SAP by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 45,770 shares of the software maker’s stock worth $9,232,000 after buying an additional 1,158 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of SAP in the 2nd quarter valued at $755,000. Finally, Axxcess Wealth Management LLC raised its holdings in shares of SAP by 97.1% during the second quarter. Axxcess Wealth Management LLC now owns 7,740 shares of the software maker’s stock worth $1,561,000 after purchasing an additional 3,814 shares during the last quarter.

Analysts Set New Price Targets

SAP has been the subject of several analyst reports. TD Cowen upgraded shares of SAP from a “hold” rating to a “buy” rating and boosted their target price for the company from $240.00 to $305.00 in a research note on Friday. Kepler Capital Markets raised SAP from a “hold” rating to a “buy” rating in a report on Wednesday. BMO Capital Markets raised their target price on SAP from $248.00 to $265.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Barclays increased their price objective on SAP from $252.00 to $275.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, 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 note on Tuesday, October 22nd. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $263.17.

SAP Stock Performance

Shares of SAP opened at $261.79 on Friday. The company has a 50-day simple moving average of $244.74 and a 200-day simple moving average of $227.23. The company has a market capitalization of $321.61 billion, a PE ratio of 104.72, a P/E/G ratio of 3.56 and a beta of 1.22. SAP SE has a 52-week low of $155.82 and a 52-week high of $262.87. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.17.

SAP (NYSE:SAP) last released its quarterly earnings data on Monday, October 21st. The software maker reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.08). SAP had a net margin of 8.15% and a return on equity of 11.44%. The firm had revenue of $8.47 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same period in the prior year, the firm earned $1.20 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts predict that SAP SE will post 4.66 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.