Chase Investment Counsel Corp Sells 10,637 Shares of SAP SE (NYSE:SAP)

Chase Investment Counsel Corp lessened its position in SAP SE (NYSE:SAP) by 36.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,623 shares of the software maker’s stock after selling 10,637 shares during the period. SAP accounts for 1.3% of Chase Investment Counsel Corp’s investment portfolio, making the stock its 29th biggest position. Chase Investment Counsel Corp’s holdings in SAP were worth $3,756,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in SAP in the 1st quarter worth $25,000. LRI Investments LLC bought a new stake in SAP in the 1st quarter worth $25,000. POM Investment Strategies LLC grew its holdings in SAP by 892.3% in the 2nd quarter. POM Investment Strategies LLC now owns 129 shares of the software maker’s stock worth $26,000 after acquiring an additional 116 shares during the last quarter. Crewe Advisors LLC grew its holdings in SAP by 1,270.0% in the 2nd quarter. Crewe Advisors LLC now owns 137 shares of the software maker’s stock worth $28,000 after acquiring an additional 127 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in SAP in the 1st quarter worth $29,000.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SAP shares. Argus raised shares of SAP from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets lifted their target price on shares of SAP from $237.00 to $248.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Barclays lifted their target price on shares of SAP from $217.00 to $251.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. TD Cowen lifted their target price on shares of SAP from $188.00 to $214.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. Finally, JMP Securities lifted their target price on shares of SAP from $220.00 to $245.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $232.00.

SAP Trading Down 0.0 %

Shares of NYSE SAP opened at $228.00 on Monday. SAP SE has a 1 year low of $126.75 and a 1 year high of $231.13. The stock has a market cap of $280.10 billion, a P/E ratio of 49.46, a price-to-earnings-growth ratio of 4.44 and a beta of 1.25. The firm has a 50-day moving average of $215.51 and a 200 day moving average of $199.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12.

SAP (NYSE:SAP) last issued its quarterly earnings results on Monday, July 22nd. The software maker reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.09. SAP had a net margin of 7.74% and a return on equity of 10.98%. The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.25 billion. During the same period last year, the company posted $0.71 EPS. SAP’s revenue was up 9.7% on a year-over-year basis. As a group, sell-side analysts expect that SAP SE will post 4.77 EPS for the current fiscal year.

SAP Company Profile

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.