Arrowstreet Capital Limited Partnership Decreases Stake in SAP SE $SAP

Arrowstreet Capital Limited Partnership cut its holdings in shares of SAP SE (NYSE:SAP) by 66.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 166,169 shares of the software maker’s stock after selling 331,193 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in SAP were worth $50,532,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SAP. Vermillion Wealth Management Inc. acquired a new stake in SAP during the 2nd quarter valued at approximately $31,000. Motco raised its position in shares of SAP by 400.0% in the 2nd quarter. Motco now owns 125 shares of the software maker’s stock valued at $36,000 after purchasing an additional 100 shares in the last quarter. Princeton Global Asset Management LLC purchased a new position in shares of SAP during the 2nd quarter valued at approximately $38,000. Solstein Capital LLC acquired a new stake in shares of SAP during the second quarter worth approximately $40,000. Finally, Dagco Inc. bought a new stake in shares of SAP in the first quarter worth $45,000.

Analysts Set New Price Targets

A number of research firms have commented on SAP. BMO Capital Markets reduced their price objective on shares of SAP from $330.00 to $320.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of SAP in a research note on Friday, October 31st. Oddo Bhf raised shares of SAP from a “neutral” rating to an “outperform” rating in a research report on Wednesday, September 24th. KeyCorp reiterated an “overweight” rating on shares of SAP in a research note on Thursday, October 23rd. Finally, Erste Group Bank cut SAP from a “buy” rating to a “hold” rating in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $284.33.

SAP Stock Up 0.7%

SAP stock opened at $245.60 on Friday. The stock has a market cap of $301.72 billion, a PE ratio of 36.77, a price-to-earnings-growth ratio of 3.61 and a beta of 1.19. The firm’s 50-day simple moving average is $258.74 and its 200 day simple moving average is $277.65. SAP SE has a fifty-two week low of $233.51 and a fifty-two week high of $313.28. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

SAP (NYSE:SAP) last posted its earnings results on Wednesday, October 22nd. The software maker reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.17. SAP had a net margin of 19.50% and a return on equity of 15.69%. The firm had revenue of $10.65 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same period in the previous year, the business posted $1.23 EPS. SAP’s revenue was up 7.2% on a year-over-year basis. As a group, sell-side analysts predict that SAP SE will post 6.55 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.