Cresset Asset Management LLC Decreases Holdings in SAP SE $SAP

Cresset Asset Management LLC reduced its position in SAP SE (NYSE:SAP) by 23.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,950 shares of the software maker’s stock after selling 3,978 shares during the quarter. Cresset Asset Management LLC’s holdings in SAP were worth $3,938,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SAP. Central Pacific Bank Trust Division acquired a new position in shares of SAP in the 2nd quarter valued at about $920,000. Modern Wealth Management LLC raised its position in SAP by 292.2% during the first quarter. Modern Wealth Management LLC now owns 4,663 shares of the software maker’s stock valued at $1,252,000 after acquiring an additional 3,474 shares in the last quarter. Ascent Group LLC raised its position in SAP by 196.3% during the first quarter. Ascent Group LLC now owns 4,175 shares of the software maker’s stock valued at $1,121,000 after acquiring an additional 2,766 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in SAP by 59.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 34,046 shares of the software maker’s stock valued at $10,353,000 after acquiring an additional 12,637 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in SAP by 6.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,318,908 shares of the software maker’s stock worth $354,048,000 after purchasing an additional 80,164 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SAP shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SAP in a report on Friday, October 31st. Jefferies Financial Group restated a “buy” rating on shares of SAP in a research report on Monday, October 27th. JMP Securities reiterated a “market outperform” rating and issued a $375.00 price objective on shares of SAP in a research report on Thursday, October 23rd. Cowen reissued a “buy” rating on shares of SAP in a research note on Thursday, October 23rd. Finally, BMO Capital Markets dropped their target price on SAP from $330.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, SAP has an average rating of “Buy” and a consensus target price of $284.33.

SAP Stock Up 0.7%

Shares of NYSE SAP opened at $247.23 on Monday. The firm has a market cap of $303.72 billion, a price-to-earnings ratio of 37.01, a price-to-earnings-growth ratio of 3.66 and a beta of 1.19. The company’s 50-day simple moving average is $258.40 and its 200-day simple moving average is $276.98. 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 SE has a 52-week low of $233.51 and a 52-week high of $313.28.

SAP (NYSE:SAP) last released its quarterly earnings results on Wednesday, October 22nd. The software maker reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.17. The firm had revenue of $10.65 billion during the quarter, compared to the consensus estimate of $9.10 billion. SAP had a net margin of 19.50% and a return on equity of 15.69%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 EPS. Equities analysts predict that SAP SE will post 6.55 EPS for the current fiscal 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.