Bank of New York Mellon Corp Lowers Stake in SAP SE (NYSE:SAP)

Bank of New York Mellon Corp reduced its holdings in shares of SAP SE (NYSE:SAP) by 6.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 370,021 shares of the software maker’s stock after selling 25,339 shares during the period. Bank of New York Mellon Corp’s holdings in SAP were worth $74,637,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of SAP. Capital International Investors grew its position in SAP by 8.1% during the 4th quarter. Capital International Investors now owns 9,947,613 shares of the software maker’s stock worth $1,537,251,000 after purchasing an additional 746,386 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of SAP in the first quarter valued at about $58,936,000. Verity & Verity LLC purchased a new stake in shares of SAP in the first quarter valued at about $35,000. International Assets Investment Management LLC purchased a new stake in shares of SAP in the fourth quarter valued at about $17,255,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of SAP by 21.2% in the first quarter. Principal Financial Group Inc. now owns 621,417 shares of the software maker’s stock valued at $121,195,000 after acquiring an additional 108,729 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SAP. BMO Capital Markets lifted their target price on shares of SAP from $237.00 to $248.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. TD Cowen lifted their target price on shares of SAP from $188.00 to $214.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. Argus raised shares of SAP from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Barclays raised their price objective on shares of SAP from $217.00 to $251.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Finally, JMP Securities raised their price objective on shares of SAP from $220.00 to $245.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, SAP presently has a consensus rating of “Moderate Buy” and an average price target of $232.00.

SAP Stock Performance

Shares of SAP opened at $218.83 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a market cap of $258.13 billion, a P/E ratio of 47.46, a PEG ratio of 4.27 and a beta of 1.25. The company has a 50-day moving average of $206.13 and a two-hundred day moving average of $194.27. SAP SE has a 12-month low of $126.75 and a 12-month high of $221.24.

SAP (NYSE:SAP) last issued its quarterly earnings results on Monday, July 22nd. The software maker reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.09. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.25 billion. SAP had a net margin of 7.74% and a return on equity of 10.98%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 earnings per share. As a group, research analysts predict that SAP SE will post 4.75 EPS for the current fiscal year.

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.