SAP SE $SAP Shares Sold by Summit Financial LLC

Summit Financial LLC decreased its holdings in SAP SE (NYSE:SAP) by 18.7% in the first quarter, Holdings Channel reports. The firm owned 940 shares of the software maker’s stock after selling 216 shares during the period. Summit Financial LLC’s holdings in SAP were worth $252,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Bartlett & CO. Wealth Management LLC boosted its holdings in SAP by 585.7% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 96 shares of the software maker’s stock worth $26,000 after acquiring an additional 82 shares in the last quarter. Creative Financial Designs Inc. ADV raised its position in shares of SAP by 153.5% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 109 shares of the software maker’s stock valued at $29,000 after purchasing an additional 66 shares during the last quarter. Founders Capital Management boosted its stake in SAP by 133.9% in the 1st quarter. Founders Capital Management now owns 131 shares of the software maker’s stock worth $35,000 after purchasing an additional 75 shares in the last quarter. Highline Wealth Partners LLC boosted its stake in SAP by 126.2% in the 1st quarter. Highline Wealth Partners LLC now owns 138 shares of the software maker’s stock worth $37,000 after purchasing an additional 77 shares in the last quarter. Finally, Dagco Inc. purchased a new stake in SAP during the 1st quarter worth approximately $45,000.

SAP Stock Down 0.2%

SAP stock opened at $270.45 on Tuesday. The business’s 50-day moving average price is $291.87 and its 200 day moving average price is $284.94. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.15. The firm has a market cap of $332.25 billion, a price-to-earnings ratio of 44.78, a price-to-earnings-growth ratio of 3.90 and a beta of 1.27. SAP SE has a 52 week low of $210.38 and a 52 week high of $313.28.

SAP (NYSE:SAP) last released its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.70 EPS for the quarter, topping the consensus estimate of $1.63 by $0.07. The business had revenue of $10.58 billion for the quarter, compared to analyst estimates of $9.10 billion. SAP had a return on equity of 14.84% and a net margin of 18.26%.The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.10 EPS. As a group, sell-side analysts anticipate that SAP SE will post 6.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Erste Group Bank cut shares of SAP from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. UBS Group raised SAP to a “strong-buy” rating in a research report on Friday, May 30th. Wells Fargo & Company began coverage on SAP in a research report on Tuesday, May 20th. They set an “overweight” rating for the company. Piper Sandler began coverage on SAP in a research note on Tuesday, June 17th. They set an “overweight” rating on the stock. Finally, Barclays restated an “overweight” rating and issued a $322.00 price objective (up from $308.00) on shares of SAP in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, SAP has an average rating of “Buy” and an average target price of $281.67.

SAP Company Profile

SAP SE, together with its subsidiaries, provides applications, technology, and services worldwide. It offers SAP S/4HANA that provides software capabilities for finance, risk and project management, procurement, manufacturing, supply chain and asset management, and research and development; SAP SuccessFactors solutions for human resources, including HR and payroll, talent and employee experience management, and people and workforce analytics; and spend management solutions that covers direct and indirect spend, travel and expense, and external workforce management.