Portside Wealth Group LLC Reduces Stake in SAP SE (NYSE:SAP)

Portside Wealth Group LLC reduced its holdings in SAP SE (NYSE:SAP) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,928 shares of the software maker’s stock after selling 71 shares during the period. Portside Wealth Group LLC’s holdings in SAP were worth $1,816,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SAP. FMR LLC boosted its holdings in SAP by 22.3% in the third quarter. FMR LLC now owns 10,246,279 shares of the software maker’s stock valued at $2,347,422,000 after purchasing an additional 1,866,468 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of SAP by 0.8% in the 3rd quarter. Principal Financial Group Inc. now owns 611,572 shares of the software maker’s stock valued at $140,111,000 after buying an additional 4,775 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of SAP by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 548,469 shares of the software maker’s stock worth $125,654,000 after buying an additional 7,667 shares during the last quarter. Stifel Financial Corp grew its holdings in SAP by 12.5% during the third quarter. Stifel Financial Corp now owns 210,804 shares of the software maker’s stock worth $48,295,000 after acquiring an additional 23,352 shares during the period. Finally, NewEdge Advisors LLC raised its position in SAP by 8.6% during the second quarter. NewEdge Advisors LLC now owns 197,976 shares of the software maker’s stock valued at $39,934,000 after acquiring an additional 15,604 shares in the last quarter.

Analyst Ratings Changes

Several research firms have recently weighed in on SAP. JMP Securities lifted their target price on shares of SAP from $245.00 to $300.00 and gave the company a “market outperform” rating in a report on Tuesday, October 22nd. TD Cowen raised shares of SAP from a “hold” rating to a “buy” rating and lifted their price objective for the company from $240.00 to $305.00 in a report on Friday. Kepler Capital Markets upgraded shares of SAP from a “hold” rating to a “buy” rating in a research report on Wednesday. BMO Capital Markets raised their target price on SAP from $248.00 to $265.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Barclays upped their price target on SAP from $252.00 to $275.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $263.17.

SAP Price Performance

NYSE:SAP opened at $262.74 on Friday. The stock has a 50 day moving average of $245.68 and a two-hundred day moving average of $227.91. SAP SE has a 12 month low of $158.94 and a 12 month high of $264.71. The firm has a market cap of $322.77 billion, a P/E ratio of 105.09, a price-to-earnings-growth ratio of 3.56 and a beta of 1.22. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.17.

SAP (NYSE:SAP) last posted 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 net margin of 8.15% and a return on equity of 11.44%. The firm had revenue of $8.47 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same period in the prior year, the company posted $1.20 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, analysts expect that SAP SE will post 4.66 earnings per share for the current fiscal 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.