Axxcess Wealth Management LLC Sells 1,673 Shares of SAP SE $SAP

Key Points

• Axxcess Wealth Management LLC reduced its stake in SAP SE by 46.8%, selling 1,673 shares and now holding 1,900 shares valued at approximately $578,000.
• SAP reported earnings of $1.70 per share for the last quarter, exceeding analyst expectations of $1.63, with revenue significantly higher than anticipated at $10.58 billion.
• SAP's stock has received a consensus rating of "Buy" with an average price target of $281.67, indicating positive investor sentiment.

Axxcess Wealth Management LLC cut its stake in SAP SE (NYSE:SAP - Free Report) by 46.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,900 shares of the software maker's stock after selling 1,673 shares during the quarter. Axxcess Wealth Management LLC's holdings in SAP were worth $578,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Contravisory Investment Management Inc. raised its holdings in SAP by 3.2% in the 2nd quarter. Contravisory Investment Management Inc. now owns 1,113 shares of the software maker's stock worth $338,000 after purchasing an additional 34 shares in the last quarter. Independent Advisor Alliance grew its position in shares of SAP by 0.4% in the 1st quarter. Independent Advisor Alliance now owns 9,957 shares of the software maker's stock worth $2,673,000 after buying an additional 35 shares during the period. Cordatus Wealth Management LLC grew its position in shares of SAP by 1.1% in the 1st quarter. Cordatus Wealth Management LLC now owns 3,310 shares of the software maker's stock worth $889,000 after buying an additional 37 shares during the period. Sage Rhino Capital LLC grew its position in shares of SAP by 1.1% in the 2nd quarter. Sage Rhino Capital LLC now owns 3,438 shares of the software maker's stock worth $1,045,000 after buying an additional 37 shares during the period. Finally, LCM Capital Management Inc grew its position in shares of SAP by 1.9% in the 1st quarter. LCM Capital Management Inc now owns 2,074 shares of the software maker's stock worth $557,000 after buying an additional 39 shares during the period.

SAP Price Performance

SAP opened at $272.84 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $335.18 billion, a P/E ratio of 45.17, a P/E/G ratio of 4.01 and a beta of 1.28. The company's 50-day simple moving average is $269.74 and its two-hundred day simple moving average is $282.37. SAP SE has a 52-week low of $227.52 and a 52-week high of $313.28.

SAP (NYSE:SAP - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The software maker reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.07. The business had revenue of $10.58 billion for the quarter, compared to analysts' expectations of $9.10 billion. SAP had a net margin of 18.26% and a return on equity of 14.84%. The business's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.10 EPS. As a group, analysts predict that SAP SE will post 6.55 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SAP. JMP Securities upped their target price on shares of SAP from $330.00 to $375.00 and gave the stock a "market outperform" rating in a research report on Wednesday, July 23rd. Jefferies Financial Group reaffirmed a "buy" rating on shares of SAP in a research report on Tuesday, September 16th. Morgan Stanley reaffirmed an "overweight" rating on shares of SAP in a research report on Tuesday, August 5th. Wall Street Zen downgraded shares of SAP from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of SAP in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, SAP has a consensus rating of "Buy" and an average price target of $281.67.

SAP 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.

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