M&T Bank Corp Has $6.21 Million Position in SAP SE (NYSE:SAP)

M&T Bank Corp decreased its position in shares of SAP SE (NYSE:SAP) by 15.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 27,120 shares of the software maker’s stock after selling 4,930 shares during the quarter. M&T Bank Corp’s holdings in SAP were worth $6,213,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Modera Wealth Management LLC lifted its stake in shares of SAP by 1.4% during the second quarter. Modera Wealth Management LLC now owns 3,736 shares of the software maker’s stock valued at $754,000 after acquiring an additional 50 shares during the period. PDS Planning Inc lifted its position in SAP by 1.3% during the 3rd quarter. PDS Planning Inc now owns 3,994 shares of the software maker’s stock valued at $915,000 after purchasing an additional 51 shares during the period. Rosenberg Matthew Hamilton lifted its position in SAP by 5.0% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 1,100 shares of the software maker’s stock valued at $252,000 after purchasing an additional 52 shares during the period. PFG Investments LLC boosted its stake in shares of SAP by 2.6% in the 2nd quarter. PFG Investments LLC now owns 2,427 shares of the software maker’s stock valued at $490,000 after purchasing an additional 61 shares during the last quarter. Finally, Drive Wealth Management LLC grew its position in shares of SAP by 2.9% during the 3rd quarter. Drive Wealth Management LLC now owns 2,172 shares of the software maker’s stock worth $498,000 after buying an additional 61 shares during the period.

Analyst Ratings Changes

A number of equities analysts have issued reports on SAP shares. Barclays raised their price objective on shares of SAP from $252.00 to $275.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. TD Cowen raised their price target on SAP from $234.00 to $240.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. JMP Securities upped their price objective on SAP from $245.00 to $300.00 and gave the company a “market outperform” rating in a report on Tuesday, October 22nd. Finally, BMO Capital Markets raised their target price on SAP from $248.00 to $265.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $252.33.

SAP Stock Performance

Shares of SAP stock opened at $247.90 on Monday. The stock’s fifty day simple moving average is $238.81 and its 200 day simple moving average is $219.99. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $304.55 billion, a PE ratio of 99.16, a PEG ratio of 4.94 and a beta of 1.23. SAP SE has a 12 month low of $148.38 and a 12 month high of $256.13.

SAP (NYSE:SAP) last released its quarterly earnings results on Monday, October 21st. The software maker reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.08). SAP had a return on equity of 11.44% and a net margin of 8.15%. The business had revenue of $8.47 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same period in the prior year, the business earned $1.20 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, research analysts predict that SAP SE will post 4.8 EPS for the current year.

About SAP

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.