Envestnet Asset Management Inc. Decreases Position in SAP SE $SAP

Envestnet Asset Management Inc. decreased its position in shares of SAP SE (NYSE:SAP) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 944,835 shares of the software maker’s stock after selling 24,350 shares during the quarter. Envestnet Asset Management Inc. owned 0.08% of SAP worth $252,469,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC boosted its stake in SAP by 53.2% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 1,408 shares of the software maker’s stock valued at $376,000 after purchasing an additional 489 shares during the last quarter. Strengthening Families & Communities LLC purchased a new position in shares of SAP in the third quarter worth $241,000. Mission Wealth Management LP lifted its holdings in shares of SAP by 2.1% during the third quarter. Mission Wealth Management LP now owns 3,668 shares of the software maker’s stock valued at $980,000 after purchasing an additional 77 shares in the last quarter. Wilkinson Global Asset Management LLC purchased a new stake in shares of SAP during the third quarter valued at $353,000. Finally, Atlantic Union Bankshares Corp increased its holdings in SAP by 275.3% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 9,799 shares of the software maker’s stock worth $2,618,000 after buying an additional 7,188 shares in the last quarter.

SAP Trading Down 1.1%

NYSE:SAP opened at $197.39 on Friday. SAP SE has a one year low of $189.22 and a one year high of $313.28. The business has a fifty day moving average price of $236.33 and a 200-day moving average price of $257.32. The firm has a market capitalization of $242.50 billion, a price-to-earnings ratio of 28.00, a price-to-earnings-growth ratio of 2.18 and a beta of 1.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.17 and a quick ratio of 1.10.

SAP (NYSE:SAP) last released its quarterly earnings results on Thursday, January 29th. The software maker reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.13. SAP had a return on equity of 16.52% and a net margin of 19.92%.The business had revenue of $11.36 billion during the quarter, compared to analyst estimates of $9.77 billion. During the same quarter in the previous year, the company posted $1.40 earnings per share. SAP’s revenue for the quarter was up 3.3% on a year-over-year basis. Sell-side analysts forecast that SAP SE will post 6.55 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on SAP shares. Hsbc Global Res upgraded shares of SAP to a “hold” rating in a research note on Tuesday, January 20th. BMO Capital Markets reissued an “outperform” rating on shares of SAP in a report on Friday, January 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of SAP in a report on Friday, January 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of SAP in a research note on Wednesday, January 28th. Finally, Argus reissued a “buy” rating and set a $320.00 price target on shares of SAP in a report on Friday, October 24th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $305.75.

SAP Company Profile

SAP SE is a global enterprise software company headquartered in Walldorf, Germany. Founded in 1972 by five former IBM engineers, the company’s name is an acronym for Systeme, Anwendungen und Produkte in der Datenverarbeitung (Systems, Applications & Products in Data Processing). SAP develops and sells software and services that help organizations manage business processes across finance, human resources, procurement, manufacturing, supply chain and customer relationships.

SAP’s product portfolio spans on‑premises and cloud offerings, anchored by its enterprise resource planning (ERP) solutions such as SAP S/4HANA and the SAP HANA in‑memory database and platform.