Highland Capital Management LLC Sells 2,650 Shares of SAP SE (NYSE:SAP)

Highland Capital Management LLC lessened its stake in shares of SAP SE (NYSE:SAP) by 13.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 16,750 shares of the software maker’s stock after selling 2,650 shares during the period. Highland Capital Management LLC’s holdings in SAP were worth $4,124,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Godsey & Gibb Inc. bought a new position in SAP during the 3rd quarter worth $25,000. Union Bancaire Privee UBP SA bought a new position in shares of SAP in the 4th quarter valued at $27,000. Albion Financial Group UT increased its stake in shares of SAP by 122.4% in the 4th quarter. Albion Financial Group UT now owns 129 shares of the software maker’s stock valued at $32,000 after purchasing an additional 71 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of SAP in the 3rd quarter valued at $42,000. Finally, Prospera Private Wealth LLC bought a new position in shares of SAP in the 3rd quarter valued at $47,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SAP. JMP Securities boosted their price objective on SAP from $300.00 to $330.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Kepler Capital Markets raised SAP from a “hold” rating to a “buy” rating in a research note on Wednesday, January 15th. BMO Capital Markets upped their price target on SAP from $265.00 to $307.00 and gave the stock an “outperform” rating in a research note on Wednesday. Barclays boosted their price objective on SAP from $275.00 to $283.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Finally, TD Cowen raised SAP from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $240.00 to $305.00 in a report on Friday, January 17th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, SAP currently has an average rating of “Buy” and an average target price of $290.40.

SAP Price Performance

SAP stock opened at $276.87 on Thursday. SAP SE has a 12 month low of $173.05 and a 12 month high of $279.14. 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 business’s 50 day simple moving average is $251.29 and its 200 day simple moving average is $231.70. The company has a market cap of $340.13 billion, a price-to-earnings ratio of 110.75, a PEG ratio of 3.89 and a beta of 1.22.

SAP (NYSE:SAP) last posted its quarterly earnings data on Tuesday, January 28th. The software maker reported $1.49 EPS for the quarter, missing the consensus estimate of $1.51 by ($0.02). SAP had a net margin of 8.15% and a return on equity of 11.44%. Sell-side analysts forecast that SAP SE will post 4.64 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.