Allworth Financial LP Lowers Stake in SAP SE $SAP

Allworth Financial LP reduced its position in SAP SE (NYSE:SAP) by 22.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,087 shares of the software maker’s stock after selling 617 shares during the quarter. Allworth Financial LP’s holdings in SAP were worth $635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Contravisory Investment Management Inc. boosted its holdings in SAP by 3.2% in the 2nd quarter. Contravisory Investment Management Inc. now owns 1,113 shares of the software maker’s stock worth $338,000 after buying an additional 34 shares during the period. Independent Advisor Alliance lifted its position in shares of SAP by 0.4% in the first quarter. Independent Advisor Alliance now owns 9,957 shares of the software maker’s stock valued at $2,673,000 after acquiring an additional 35 shares in the last quarter. Cordatus Wealth Management LLC boosted its stake in shares of SAP by 1.1% in the first quarter. Cordatus Wealth Management LLC now owns 3,310 shares of the software maker’s stock worth $889,000 after acquiring an additional 37 shares during the period. Sage Rhino Capital LLC grew its position in shares of SAP by 1.1% during the second quarter. Sage Rhino Capital LLC now owns 3,438 shares of the software maker’s stock worth $1,045,000 after purchasing an additional 37 shares in the last quarter. Finally, LCM Capital Management Inc raised its stake in SAP by 1.9% during the 1st quarter. LCM Capital Management Inc now owns 2,074 shares of the software maker’s stock valued at $557,000 after purchasing an additional 39 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SAP shares. Barclays upped their price target on SAP from $322.00 to $348.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Cowen reaffirmed a “buy” rating on shares of SAP in a research note on Thursday, October 23rd. Argus reiterated a “buy” rating and issued a $320.00 price target on shares of SAP in a report on Friday, October 24th. Morgan Stanley reissued an “overweight” rating on shares of SAP in a report on Friday, October 31st. Finally, BMO Capital Markets cut their price objective on SAP from $330.00 to $320.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $284.33.

SAP Stock Performance

Shares of NYSE:SAP opened at $245.02 on Friday. The firm has a fifty day simple moving average of $265.26 and a two-hundred day simple moving average of $282.90. SAP SE has a 52 week low of $227.52 and a 52 week high of $313.28. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $301.01 billion, a P/E ratio of 36.68, a PEG ratio of 3.83 and a beta of 1.18.

SAP (NYSE:SAP) last released its quarterly earnings results on Wednesday, October 22nd. The software maker reported $1.86 EPS for the quarter, topping the consensus estimate of $1.69 by $0.17. SAP had a return on equity of 15.69% and a net margin of 19.50%.The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same quarter last year, the business posted $1.23 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. On average, analysts expect that SAP SE will post 6.55 earnings per share 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.