SAP SE (NYSE:SAP) Stake Lowered by Truist Financial Corp

Truist Financial Corp reduced its stake in shares of SAP SE (NYSE:SAP) by 2.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 74,229 shares of the software maker’s stock after selling 1,850 shares during the period. Truist Financial Corp’s holdings in SAP were worth $14,973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. KBC Group NV lifted its position in SAP by 19.2% in the 4th quarter. KBC Group NV now owns 2,025 shares of the software maker’s stock valued at $313,000 after purchasing an additional 326 shares during the last quarter. Capital World Investors raised its stake in SAP by 1.2% during the 4th quarter. Capital World Investors now owns 21,190 shares of the software maker’s stock valued at $3,270,000 after acquiring an additional 250 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in SAP by 2.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 1,086,658 shares of the software maker’s stock worth $167,987,000 after acquiring an additional 26,031 shares during the period. Personal CFO Solutions LLC grew its stake in shares of SAP by 1.7% in the fourth quarter. Personal CFO Solutions LLC now owns 5,688 shares of the software maker’s stock worth $879,000 after purchasing an additional 97 shares in the last quarter. Finally, Cresset Asset Management LLC raised its stake in shares of SAP by 11.7% during the fourth quarter. Cresset Asset Management LLC now owns 97,173 shares of the software maker’s stock valued at $15,022,000 after purchasing an additional 10,143 shares in the last quarter.

SAP Stock Performance

SAP stock opened at $220.88 on Friday. SAP SE has a fifty-two week low of $127.30 and a fifty-two week high of $231.13. The firm’s 50 day simple moving average is $216.95 and its 200-day simple moving average is $201.04. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $271.35 billion, a P/E ratio of 47.91, a price-to-earnings-growth ratio of 4.38 and a beta of 1.25.

SAP (NYSE:SAP) last announced its earnings results on Monday, July 22nd. The software maker reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.09. The company had revenue of $8.29 billion for 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 revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 EPS. As a group, equities research analysts predict that SAP SE will post 4.78 EPS for the current year.

Wall Street Analyst Weigh In

SAP has been the topic of a number of recent analyst reports. Barclays boosted their price target on shares of SAP from $251.00 to $252.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. BMO Capital Markets upped their target price on SAP from $237.00 to $248.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. TD Cowen lifted their price target on SAP from $188.00 to $214.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. JMP Securities lifted their target price on SAP from $220.00 to $245.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 23rd. Finally, Argus raised shares of SAP from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $232.17.

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.