Cidel Asset Management Inc. Sells 11,371 Shares of SAP SE $SAP

Cidel Asset Management Inc. decreased its holdings in SAP SE (NYSE:SAP) by 8.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 127,902 shares of the software maker’s stock after selling 11,371 shares during the quarter. SAP accounts for approximately 2.2% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 10th biggest holding. Cidel Asset Management Inc.’s holdings in SAP were worth $31,069,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First PREMIER Bank bought a new position in shares of SAP in the third quarter valued at approximately $25,000. Retirement Wealth Solutions LLC grew its holdings in SAP by 246.4% during the third quarter. Retirement Wealth Solutions LLC now owns 97 shares of the software maker’s stock worth $26,000 after buying an additional 69 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new stake in SAP in the 3rd quarter valued at $27,000. Copia Wealth Management bought a new position in SAP during the 3rd quarter valued at $28,000. Finally, Guerra Advisors Inc bought a new position in SAP during the 3rd quarter valued at $31,000.

SAP Stock Performance

Shares of SAP stock opened at $171.91 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $211.19 billion, a price-to-earnings ratio of 24.38, a P/E/G ratio of 1.94 and a beta of 1.24. SAP SE has a 52 week low of $163.77 and a 52 week high of $313.28. The firm’s 50-day simple moving average is $195.02 and its two-hundred day simple moving average is $232.22.

SAP (NYSE:SAP) last released its earnings results on Thursday, January 29th. The software maker reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.13. The firm had revenue of $11.36 billion during the quarter, compared to the consensus estimate of $9.77 billion. SAP had a net margin of 19.92% and a return on equity of 16.54%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 EPS. As a group, equities analysts forecast that SAP SE will post 6.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Barclays set a $283.00 target price on shares of SAP in a research note on Monday, February 2nd. Citigroup downgraded shares of SAP from a “buy” rating to a “hold” rating in a research report on Friday, January 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of SAP in a research note on Friday, January 30th. Piper Sandler started coverage on SAP in a research note on Tuesday, February 3rd. They issued an “overweight” rating on the stock. Finally, Zacks Research lowered SAP from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $305.75.

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.