DAVENPORT & Co LLC Trims Stake in SAP SE $SAP

DAVENPORT & Co LLC lessened its position in SAP SE (NYSE:SAP) by 85.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,794 shares of the software maker’s stock after selling 10,738 shares during the quarter. DAVENPORT & Co LLC’s holdings in SAP were worth $436,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SAP. Fisher Asset Management LLC raised its position in SAP by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 14,549,331 shares of the software maker’s stock worth $3,887,727,000 after purchasing an additional 392,010 shares during the period. Bank of America Corp DE boosted its position in shares of SAP by 58.1% during the second quarter. Bank of America Corp DE now owns 2,650,418 shares of the software maker’s stock valued at $805,992,000 after buying an additional 973,779 shares during the period. Windacre Partnership LLC boosted its position in shares of SAP by 130.9% during the third quarter. Windacre Partnership LLC now owns 2,357,225 shares of the software maker’s stock valued at $629,874,000 after buying an additional 1,336,325 shares during the period. Northern Trust Corp grew its stake in shares of SAP by 3.2% during the third quarter. Northern Trust Corp now owns 1,560,994 shares of the software maker’s stock valued at $417,113,000 after buying an additional 49,111 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of SAP by 2.8% in the third quarter. Ameriprise Financial Inc. now owns 1,120,408 shares of the software maker’s stock worth $296,828,000 after buying an additional 30,806 shares during the period.

SAP Stock Performance

SAP stock opened at $171.22 on Wednesday. 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 company has a market capitalization of $210.34 billion, a PE ratio of 24.29, a P/E/G ratio of 1.90 and a beta of 1.18. The company has a 50 day moving average price of $198.36 and a 200-day moving average price of $233.99. SAP SE has a fifty-two week low of $163.77 and a fifty-two week high of $313.28.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SAP shares. Wall Street Zen lowered SAP from a “buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Citigroup downgraded SAP from a “buy” rating to a “hold” rating in a research report on Friday, January 30th. Santander upgraded SAP to a “neutral” rating in a research note on Tuesday, February 3rd. Piper Sandler started coverage on SAP in a research report on Tuesday, February 3rd. They set an “overweight” rating for the company. Finally, Arete Research raised shares of SAP to a “strong-buy” rating in a research note on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.