Rock Point Advisors LLC Sells 4,430 Shares of SAP SE (NYSE:SAP)

Rock Point Advisors LLC cut its position in SAP SE (NYSE:SAP) by 17.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,468 shares of the software maker’s stock after selling 4,430 shares during the quarter. SAP comprises about 1.7% of Rock Point Advisors LLC’s holdings, making the stock its 24th largest position. Rock Point Advisors LLC’s holdings in SAP were worth $5,494,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. TD Asset Management Inc. increased its position in shares of SAP by 125.0% in the fourth quarter. TD Asset Management Inc. now owns 1,602,548 shares of the software maker’s stock worth $394,563,000 after purchasing an additional 890,157 shares during the last quarter. Northern Trust Corp lifted its stake in SAP by 91.2% in the fourth quarter. Northern Trust Corp now owns 1,471,798 shares of the software maker’s stock worth $362,371,000 after acquiring an additional 701,880 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of SAP by 145.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,346,506 shares of the software maker’s stock valued at $331,523,000 after acquiring an additional 798,037 shares in the last quarter. Bank of America Corp DE increased its holdings in SAP by 5.7% in the 4th quarter. Bank of America Corp DE now owns 1,314,814 shares of the software maker’s stock worth $323,720,000 after buying an additional 70,613 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of SAP by 31,239.5% during the 1st quarter. GAMMA Investing LLC now owns 1,306,229 shares of the software maker’s stock valued at $350,644,000 after purchasing an additional 1,302,061 shares during the period.

SAP Trading Up 1.1%

Shares of SAP opened at $312.19 on Thursday. SAP SE has a 12-month low of $194.93 and a 12-month high of $314.68. The stock’s fifty day simple moving average is $298.74 and its 200-day simple moving average is $278.56. The firm has a market capitalization of $383.53 billion, a PE ratio of 59.81, a price-to-earnings-growth ratio of 4.38 and a beta of 1.30. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.15.

SAP (NYSE:SAP) last released its quarterly earnings results on Tuesday, April 22nd. The software maker reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.12. SAP had a return on equity of 13.66% and a net margin of 16.33%. The business had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $9.08 billion. As a group, research analysts predict that SAP SE will post 6.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SAP. Jefferies Financial Group reaffirmed a “buy” rating on shares of SAP in a research report on Friday, May 2nd. Wall Street Zen upgraded SAP from a “hold” rating to a “buy” rating in a research report on Sunday, June 29th. Wells Fargo & Company began coverage on shares of SAP in a research note on Tuesday, May 20th. They issued an “overweight” rating for the company. Barclays restated an “overweight” rating and issued a $308.00 target price (up previously from $286.00) on shares of SAP in a research report on Thursday, April 24th. Finally, UBS Group raised SAP to a “strong-buy” rating in a research note on Friday, May 30th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, SAP currently has a consensus rating of “Buy” and a consensus target price of $271.83.

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.