Malaga Cove Capital LLC Lowers Stake in SAP SE (NYSE:SAP)

Malaga Cove Capital LLC trimmed its holdings in SAP SE (NYSE:SAP) by 33.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 6,791 shares of the software maker’s stock after selling 3,345 shares during the quarter. Malaga Cove Capital LLC’s holdings in SAP were worth $1,556,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in SAP by 440.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,911 shares of the software maker’s stock worth $568,000 after acquiring an additional 2,372 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of SAP by 21.1% during the first quarter. BNP Paribas Financial Markets now owns 26,359 shares of the software maker’s stock worth $5,141,000 after purchasing an additional 4,596 shares during the period. Geneos Wealth Management Inc. grew its position in SAP by 254.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 170 shares of the software maker’s stock valued at $33,000 after buying an additional 122 shares during the last quarter. ORG Partners LLC grew its position in SAP by 1,265.9% in the 1st quarter. ORG Partners LLC now owns 560 shares of the software maker’s stock valued at $110,000 after buying an additional 519 shares during the last quarter. Finally, Wealthspire Advisors LLC acquired a new position in SAP in the 1st quarter valued at $237,000.

SAP Stock Down 2.0 %

SAP opened at $231.26 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $284.10 billion, a price-to-earnings ratio of 92.50, a PEG ratio of 4.46 and a beta of 1.25. SAP SE has a one year low of $139.76 and a one year high of $243.01. The business’s fifty day moving average is $226.49 and its two-hundred day moving average is $208.02.

SAP (NYSE:SAP) last released its quarterly earnings data on Monday, October 21st. The software maker reported $1.23 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the prior year, the firm earned $1.20 earnings per share. SAP’s quarterly revenue was up 9.4% on a year-over-year basis. Analysts anticipate that SAP SE will post 4.9 EPS for the current fiscal year.

Analyst Ratings Changes

SAP has been the topic of several analyst reports. TD Cowen lifted their target price on shares of SAP from $234.00 to $240.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Barclays lifted their price objective on SAP from $252.00 to $275.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Argus upgraded SAP from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets raised their price target on SAP from $248.00 to $265.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, JMP Securities upped their price objective on SAP from $245.00 to $300.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $252.33.

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.