Bank of America Corp DE reduced its stake in SAP SE (NYSE:SAP) by 2.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,649,513 shares of the software maker’s stock after selling 62,860 shares during the period. Bank of America Corp DE owned approximately 0.22% of SAP worth $306,444,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. CSat Investment Advisory L.P. acquired a new stake in SAP in the 2nd quarter valued at $5,382,000. Investment House LLC increased its holdings in SAP by 2.0% in the 2nd quarter. Investment House LLC now owns 56,108 shares of the software maker’s stock valued at $6,489,000 after purchasing an additional 1,091 shares in the last quarter. Northern Trust Corp increased its holdings in SAP by 6.2% in the 1st quarter. Northern Trust Corp now owns 1,564,517 shares of the software maker’s stock valued at $164,525,000 after purchasing an additional 90,998 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its holdings in SAP by 1.1% in the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 40,183 shares of the software maker’s stock valued at $4,647,000 after purchasing an additional 451 shares in the last quarter. Finally, Timber Hill LLC acquired a new stake in SAP in the 2nd quarter valued at $821,000. Hedge funds and other institutional investors own 4.53% of the company’s stock.
SAP has been the subject of several recent analyst reports. ValuEngine downgraded SAP from a “buy” rating to a “hold” rating in a research note on Tuesday, May 22nd. Jefferies Financial Group initiated coverage on SAP in a research note on Friday, June 1st. They set a “buy” rating and a $140.00 target price for the company. Zacks Investment Research downgraded SAP from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. DZ Bank restated a “buy” rating on shares of SAP in a research note on Wednesday, June 27th. Finally, Oppenheimer raised their target price on SAP from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, July 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $113.70.
SAP (NYSE:SAP) last announced its earnings results on Thursday, July 19th. The software maker reported $0.98 earnings per share for the quarter, meeting the consensus estimate of $0.98. The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.90 billion. SAP had a return on equity of 18.07% and a net margin of 17.92%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $0.94 earnings per share. analysts predict that SAP SE will post 4.39 EPS for the current fiscal year.
SAP SE operates as an enterprise application software, and analytics and business intelligence company worldwide. It offers SAP HANA, which enables businesses to process and analyze live data; SAP Data Hub, a solution that enables businesses to manage data from various sources; SAP Cloud Platform, which enables businesses to connect and integrate applications; SAP BW/4HANA, a data warehouse solution; SAP Leonardo, a system that enables customers to make business sense and opportunity of disruptive technologies; and SAP Analytics Cloud, which leverages the intersection of business intelligence, planning, and predictive analytics.
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