Intellectus Partners LLC cut its stake in SAP SE (NYSE:SAP) by 51.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,516 shares of the software maker’s stock after selling 2,639 shares during the period. Intellectus Partners LLC’s holdings in SAP SE were worth $263,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of SAP. Massachusetts Financial Services Co. MA boosted its holdings in SAP SE by 2.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 111,447 shares of the software maker’s stock valued at $10,941,000 after purchasing an additional 2,370 shares during the period. MARSHALL WACE ASIA Ltd bought a new stake in SAP SE in the 1st quarter valued at $2,053,000. Marshall Wace North America L.P. bought a new stake in SAP SE in the 1st quarter valued at $2,053,000. Dimensional Fund Advisors LP boosted its holdings in SAP SE by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 111,506 shares of the software maker’s stock valued at $10,947,000 after purchasing an additional 1,146 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of SAP SE by 37.3% during the 1st quarter. Bank of America Corp DE now owns 2,565,236 shares of the software maker’s stock worth $251,830,000 after acquiring an additional 696,447 shares during the period. 3.57% of the stock is owned by hedge funds and other institutional investors.
SAP SE announced that its board has authorized a share repurchase plan on Thursday, July 20th that permits the company to buyback shares. This buyback authorization permits the software maker to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
A number of equities analysts have recently commented on the stock. BMO Capital Markets reaffirmed a “hold” rating and set a $110.00 price objective on shares of SAP SE in a report on Friday. Stifel Nicolaus reaffirmed a “sell” rating and set a $75.00 price objective on shares of SAP SE in a report on Thursday. Zacks Investment Research raised shares of SAP SE from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of SAP SE in a report on Monday, September 18th. Finally, Berenberg Bank assumed coverage on shares of SAP SE in a report on Wednesday, August 23rd. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $94.84.
SAP SE Company 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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