Allspring Global Investments Holdings LLC Has $21.49 Million Position in SAP SE $SAP

Allspring Global Investments Holdings LLC trimmed its position in SAP SE (NYSE:SAP) by 9.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,705 shares of the software maker’s stock after selling 9,767 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in SAP were worth $21,490,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Oppenheimer Asset Management Inc. lifted its position in shares of SAP by 15.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 53,410 shares of the software maker’s stock worth $14,272,000 after buying an additional 7,066 shares during the last quarter. Seaview Investment Managers LLC boosted its stake in shares of SAP by 191.4% in the 3rd quarter. Seaview Investment Managers LLC now owns 11,744 shares of the software maker’s stock valued at $3,138,000 after purchasing an additional 7,714 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of SAP in the 3rd quarter valued at $32,760,000. Cidel Asset Management Inc. lifted its stake in shares of SAP by 9.7% in the 3rd quarter. Cidel Asset Management Inc. now owns 139,273 shares of the software maker’s stock valued at $37,215,000 after purchasing an additional 12,268 shares during the period. Finally, Natixis Advisors LLC grew its stake in SAP by 2.3% during the third quarter. Natixis Advisors LLC now owns 415,087 shares of the software maker’s stock worth $110,915,000 after purchasing an additional 9,195 shares during the period.

Analysts Set New Price Targets

SAP has been the topic of several recent analyst reports. Barclays set a $283.00 price target on SAP in a research note on Monday, February 2nd. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of SAP in a research report on Tuesday, March 24th. Piper Sandler assumed coverage on shares of SAP in a research note on Tuesday, February 3rd. They set an “overweight” rating on the stock. Wall Street Zen lowered shares of SAP from a “buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Finally, Citigroup lowered SAP from a “buy” rating to a “hold” rating in a research report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $305.75.

SAP Stock Performance

NYSE SAP opened at $171.91 on Friday. SAP SE has a 12-month low of $163.77 and a 12-month high of $313.28. The firm has a market cap of $211.19 billion, a P/E ratio of 24.38, a price-to-earnings-growth ratio of 1.94 and a beta of 1.24. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $195.02 and its 200-day moving average is $232.57.

SAP (NYSE:SAP) last released its quarterly earnings results on Thursday, January 29th. The software maker reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.13. The firm had revenue of $11.36 billion for the quarter, compared to analysts’ expectations of $9.77 billion. SAP had a net margin of 19.92% and a return on equity of 16.54%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.40 earnings per share. Sell-side analysts predict that SAP SE will post 6.55 earnings per share for the current year.

SAP 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.