CIBC Asset Management Inc Cuts Stake in SAP SE $SAP

CIBC Asset Management Inc lowered its stake in SAP SE (NYSE:SAP) by 8.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,072 shares of the software maker’s stock after selling 3,320 shares during the quarter. CIBC Asset Management Inc’s holdings in SAP were worth $9,906,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SAP. Simplicity Wealth LLC lifted its position in shares of SAP by 57.6% in the third quarter. Simplicity Wealth LLC now owns 1,756 shares of the software maker’s stock worth $469,000 after buying an additional 642 shares in the last quarter. Bailard Inc. grew its holdings in SAP by 2.4% during the 3rd quarter. Bailard Inc. now owns 15,988 shares of the software maker’s stock valued at $4,272,000 after buying an additional 373 shares in the last quarter. Vest Financial LLC increased its stake in SAP by 84.4% in the 3rd quarter. Vest Financial LLC now owns 1,315 shares of the software maker’s stock worth $351,000 after acquiring an additional 602 shares during the last quarter. Canopy Partners LLC raised its holdings in shares of SAP by 7.6% during the 3rd quarter. Canopy Partners LLC now owns 1,747 shares of the software maker’s stock worth $467,000 after acquiring an additional 124 shares in the last quarter. Finally, McAdam LLC bought a new position in shares of SAP during the 3rd quarter valued at approximately $228,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Hsbc Global Res raised shares of SAP to a “hold” rating in a research note on Tuesday, January 20th. Argus restated a “buy” rating and set a $320.00 target price on shares of SAP in a research report on Friday, October 24th. JMP Securities reiterated a “market outperform” rating and issued a $375.00 price target on shares of SAP in a research report on Thursday, October 23rd. Morgan Stanley restated an “overweight” rating on shares of SAP in a research report on Friday, October 31st. Finally, Wall Street Zen cut SAP from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $280.20.

SAP Stock Performance

Shares of SAP stock opened at $239.65 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock’s fifty day moving average is $240.92 and its two-hundred day moving average is $262.00. SAP SE has a 52 week low of $220.89 and a 52 week high of $313.28. The company has a market capitalization of $283.87 billion, a PE ratio of 35.88, a price-to-earnings-growth ratio of 2.75 and a beta of 1.18.

About SAP

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.