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Bank of New York Mellon Corp Sells 55,242 Shares of SAP SE (NYSE:SAP)

SAP logo with Computer and Technology background

Bank of New York Mellon Corp reduced its position in SAP SE (NYSE:SAP - Free Report) by 15.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 292,991 shares of the software maker's stock after selling 55,242 shares during the quarter. Bank of New York Mellon Corp's holdings in SAP were worth $78,650,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Deutsche Bank AG increased its holdings in SAP by 41.3% in the 4th quarter. Deutsche Bank AG now owns 4,773 shares of the software maker's stock valued at $1,175,000 after buying an additional 1,396 shares during the period. National Bank of Canada FI increased its holdings in SAP by 3.3% in the 4th quarter. National Bank of Canada FI now owns 75,692 shares of the software maker's stock valued at $18,636,000 after buying an additional 2,445 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in SAP by 473.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,081 shares of the software maker's stock valued at $502,000 after buying an additional 1,718 shares during the period. Hennion & Walsh Asset Management Inc. bought a new position in SAP in the 1st quarter valued at about $790,000. Finally, Alliancebernstein L.P. increased its holdings in SAP by 15.7% in the 4th quarter. Alliancebernstein L.P. now owns 1,271 shares of the software maker's stock valued at $313,000 after buying an additional 172 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SAP. Wells Fargo & Company began coverage on shares of SAP in a research note on Tuesday, May 20th. They issued an "overweight" rating on the stock. JMP Securities restated a "market outperform" rating and issued a $330.00 price target on shares of SAP in a research note on Friday, May 23rd. Piper Sandler began coverage on shares of SAP in a research note on Tuesday, June 17th. They issued an "overweight" rating on the stock. Argus restated a "buy" rating and issued a $320.00 price target on shares of SAP in a research note on Tuesday, April 29th. Finally, Wall Street Zen upgraded shares of SAP from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, SAP presently has an average rating of "Buy" and a consensus target price of $271.83.

View Our Latest Stock Analysis on SAP

SAP Trading Down 0.0%

NYSE:SAP traded down $0.11 during mid-day trading on Monday, hitting $300.74. 898,556 shares of the company's stock were exchanged, compared to its average volume of 1,301,228. The company has a 50 day simple moving average of $299.07 and a 200-day simple moving average of $279.64. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15. SAP SE has a fifty-two week low of $194.93 and a fifty-two week high of $313.28. The firm has a market capitalization of $369.46 billion, a P/E ratio of 57.61, a PEG ratio of 4.26 and a beta of 1.30.

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

SAP Profile

(Free Report)

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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Institutional Ownership by Quarter for SAP (NYSE:SAP)

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