HighTower Advisors LLC decreased its position in SAP SE (NYSE:SAP) by 16.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,775 shares of the software maker’s stock after selling 2,717 shares during the quarter. HighTower Advisors LLC’s holdings in SAP SE were worth $1,439,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in SAP. Parallel Advisors LLC increased its position in shares of SAP SE by 32.4% in the second quarter. Parallel Advisors LLC now owns 957 shares of the software maker’s stock valued at $101,000 after acquiring an additional 234 shares during the period. Shine Investment Advisory Services Inc. purchased a new position in shares of SAP SE in the second quarter valued at about $132,000. IFP Advisors Inc increased its position in shares of SAP SE by 29.4% in the second quarter. IFP Advisors Inc now owns 1,456 shares of the software maker’s stock valued at $152,000 after acquiring an additional 331 shares during the period. Fiduciary Trust Co. purchased a new position in shares of SAP SE in the second quarter valued at about $157,000. Finally, Huntington National Bank increased its position in shares of SAP SE by 1.6% in the second quarter. Huntington National Bank now owns 1,548 shares of the software maker’s stock valued at $162,000 after acquiring an additional 24 shares during the period. Hedge funds and other institutional investors own 3.57% of the company’s stock.
A number of research firms have issued reports on SAP. Stifel Nicolaus restated a “sell” rating and issued a $75.00 price objective on shares of SAP SE in a research report on Friday, July 14th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of SAP SE in a research report on Monday, June 26th. Berenberg Bank began coverage on shares of SAP SE in a research report on Wednesday, August 23rd. They issued a “buy” rating on the stock. Zacks Investment Research upgraded shares of SAP SE from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. Finally, DZ Bank AG restated a “buy” rating on shares of SAP SE in a research report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. SAP SE presently has a consensus rating of “Buy” and a consensus target price of $94.84.
Shares of SAP SE (SAP) opened at 112.35 on Wednesday. The company has a market cap of $134.70 billion, a price-to-earnings ratio of 32.57 and a beta of 1.10. SAP SE has a 1-year low of $80.93 and a 1-year high of $112.55. The company’s 50-day moving average is $108.38 and its 200 day moving average is $104.76.
SAP SE declared that its Board of Directors has initiated a stock buyback program on Thursday, July 20th that allows the company to buyback outstanding shares. This buyback authorization allows the software maker to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
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SAP SE Profile
SAP SE (SAP) is a software and service provider. The Company offers enterprise application software. The Company operates through two segments: Applications, Technology & Services segment, and the SAP Business Network segment. The Applications, Technology & Services segment is engaged in the sale of software licenses, subscriptions to its cloud applications, and related services (primarily support services and various professional services, and support services, as well as implementation services of its software products and education services on the use of its products).
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