Cibc World Market Inc. Reduces Stock Position in SAP SE (NYSE:SAP)

Cibc World Market Inc. decreased its stake in SAP SE (NYSE:SAPGet Rating) by 6.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,935 shares of the software maker’s stock after selling 1,036 shares during the quarter. Cibc World Market Inc.’s holdings in SAP were worth $1,355,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Geneos Wealth Management Inc. boosted its stake in shares of SAP by 650.0% in the second quarter. Geneos Wealth Management Inc. now owns 300 shares of the software maker’s stock worth $27,000 after buying an additional 260 shares during the last quarter. Allworth Financial LP boosted its stake in shares of SAP by 108.0% in the second quarter. Allworth Financial LP now owns 312 shares of the software maker’s stock worth $28,000 after buying an additional 162 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of SAP by 77.0% in the second quarter. EverSource Wealth Advisors LLC now owns 354 shares of the software maker’s stock worth $32,000 after buying an additional 154 shares during the last quarter. Montag A & Associates Inc. purchased a new stake in shares of SAP in the first quarter worth about $45,000. Finally, Selective Wealth Management Inc. boosted its stake in shares of SAP by 656.7% in the second quarter. Selective Wealth Management Inc. now owns 507 shares of the software maker’s stock worth $46,000 after buying an additional 440 shares during the last quarter. Hedge funds and other institutional investors own 5.20% of the company’s stock.

SAP Price Performance

NYSE:SAP opened at $108.79 on Friday. SAP SE has a one year low of $78.22 and a one year high of $142.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $128.33 billion, a PE ratio of 36.26, a P/E/G ratio of 6.96 and a beta of 1.10. The stock has a 50 day moving average price of $90.94 and a 200 day moving average price of $92.31.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SAP shares. Barclays increased their price target on SAP from €102.00 ($105.15) to €105.00 ($108.25) and gave the stock an “equal weight” rating in a research report on Wednesday, October 26th. Jefferies Financial Group downgraded SAP from a “buy” rating to an “underperform” rating in a research report on Thursday. Citigroup increased their price target on SAP from €95.00 ($97.94) to €100.00 ($103.09) and gave the stock a “neutral” rating in a research report on Wednesday, October 26th. JPMorgan Chase & Co. upgraded SAP from a “neutral” rating to an “overweight” rating in a research report on Friday, October 21st. Finally, StockNews.com upgraded SAP from a “hold” rating to a “buy” rating in a research report on Friday, November 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $107.86.

About SAP

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SAP SE, together with its subsidiaries, operates as an enterprise application software company worldwide. The company operates through three segments: Applications, Technology & Support; Qualtrics; and Services. It offers SAP S/4HANA, an ERP suite with intelligent technologies, such as artificial intelligence, machine learning, and advanced analytics; SAP SuccessFactors Human Experience Management provides cloud-based solutions, such as a human resources management system for core HR and payroll, talent management, employee experience management, and people analytics; and intelligent spend management solutions, including products branded under the SAP Ariba, SAP Concur, and SAP Fieldglass names.

See Also

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Institutional Ownership by Quarter for SAP (NYSE:SAP)

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