Elevation Point Wealth Partners LLC Lowers Position in SAP SE $SAP

Elevation Point Wealth Partners LLC decreased its stake in SAP SE (NYSE:SAP) by 56.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,004 shares of the software maker’s stock after selling 10,364 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in SAP were worth $2,139,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SAP. CX Institutional grew its stake in shares of SAP by 2.0% during the 3rd quarter. CX Institutional now owns 1,961 shares of the software maker’s stock valued at $524,000 after acquiring an additional 38 shares during the period. Kathmere Capital Management LLC raised its stake in SAP by 1.0% during the 3rd quarter. Kathmere Capital Management LLC now owns 4,019 shares of the software maker’s stock worth $1,074,000 after acquiring an additional 40 shares during the period. Binnacle Investments Inc lifted its holdings in SAP by 14.2% during the third quarter. Binnacle Investments Inc now owns 338 shares of the software maker’s stock valued at $90,000 after purchasing an additional 42 shares in the last quarter. Certuity LLC boosted its position in shares of SAP by 2.4% in the second quarter. Certuity LLC now owns 1,866 shares of the software maker’s stock worth $568,000 after purchasing an additional 43 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of SAP by 1.0% in the second quarter. Thrivent Financial for Lutherans now owns 4,495 shares of the software maker’s stock worth $1,355,000 after purchasing an additional 43 shares in the last quarter.

SAP Price Performance

Shares of SAP stock opened at $189.96 on Monday. The stock has a market cap of $233.37 billion, a price-to-earnings ratio of 26.94, a price-to-earnings-growth ratio of 2.11 and a beta of 1.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a 50 day moving average price of $213.55 and a 200-day moving average price of $241.73. SAP SE has a one year low of $187.93 and a one year high of $313.28.

SAP (NYSE:SAP) last released its quarterly earnings results on Thursday, January 29th. The software maker reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.13. The company had revenue of $11.36 billion for the quarter, compared to analyst estimates of $9.77 billion. SAP had a return on equity of 16.54% and a net margin of 19.92%.SAP’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.40 EPS. Equities analysts expect that SAP SE will post 6.55 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Citigroup cut shares of SAP from a “buy” rating to a “hold” rating in a research note on Friday, January 30th. BMO Capital Markets reissued an “outperform” rating on shares of SAP in a report on Friday, January 30th. Arete Research raised SAP to a “strong-buy” rating in a research note on Thursday, December 11th. Citizens Jmp cut SAP from an “outperform” rating to a “market perform” rating in a research report on Friday, January 30th. Finally, TD Cowen reissued a “buy” rating on shares of SAP in a research note on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, SAP presently has a consensus rating of “Moderate Buy” and a consensus target price of $305.75.

About SAP

SAP SE is a global enterprise software company headquartered in Walldorf, Germany. Founded in 1972 by five former IBM engineers, the company’s name is an acronym for Systeme, Anwendungen und Produkte in der Datenverarbeitung (Systems, Applications & Products in Data Processing). SAP develops and sells software and services that help organizations manage business processes across finance, human resources, procurement, manufacturing, supply chain and customer relationships.

SAP’s product portfolio spans on‑premises and cloud offerings, anchored by its enterprise resource planning (ERP) solutions such as SAP S/4HANA and the SAP HANA in‑memory database and platform.