Causeway Capital Management LLC Sells 22,721 Shares of SAP SE $SAP

Key Points

• Causeway Capital Management LLC reduced its stake in SAP SE by 12.8%, selling 22,721 shares during the first quarter, leaving them with 155,139 shares valued at approximately $41.6 million.
• Several institutional investors have increased their positions in SAP, including TD Asset Management Inc and GAMMA Investing LLC, which reported a remarkable 31,239.5% increase in ownership.
• Research analysts are generally optimistic about SAP, with a consensus rating of "Buy" and a target price of $281.67, reflecting strong performance and growth expectations for the company.

Causeway Capital Management LLC lowered its position in shares of SAP SE (NYSE:SAP - Free Report) by 12.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 155,139 shares of the software maker's stock after selling 22,721 shares during the quarter. Causeway Capital Management LLC's holdings in SAP were worth $41,646,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. 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 valued at $26,000 after acquiring an additional 82 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in SAP by 153.5% in the first quarter. Creative Financial Designs Inc. ADV now owns 109 shares of the software maker's stock valued at $29,000 after acquiring an additional 66 shares during the last quarter. Founders Capital Management boosted its holdings in SAP by 133.9% in the first quarter. Founders Capital Management now owns 131 shares of the software maker's stock valued at $35,000 after acquiring an additional 75 shares during the last quarter. Highline Wealth Partners LLC boosted its holdings in SAP by 126.2% in the first quarter. Highline Wealth Partners LLC now owns 138 shares of the software maker's stock valued at $37,000 after acquiring an additional 77 shares during the last quarter. Finally, Dagco Inc. bought a new position in SAP in the first quarter valued at about $45,000.

SAP Stock Up 0.1%

Shares of NYSE:SAP traded up $0.32 during trading on Thursday, hitting $275.43. 731,000 shares of the company's stock traded hands, compared to its average volume of 1,586,241. SAP SE has a 52 week low of $210.38 and a 52 week high of $313.28. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.15. The company has a market cap of $338.36 billion, a price-to-earnings ratio of 45.60, a price-to-earnings-growth ratio of 3.96 and a beta of 1.27. The company has a 50-day moving average price of $290.84 and a 200-day moving average price of $284.73.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on SAP. Barclays reiterated an "overweight" rating and issued a $322.00 price target (up previously from $308.00) on shares of SAP in a report on Friday, July 25th. Erste Group Bank cut SAP from a "buy" rating to a "hold" rating in a report on Thursday, August 14th. Piper Sandler initiated coverage on SAP in a report on Tuesday, June 17th. They set an "overweight" rating on the stock. Jefferies Financial Group restated a "buy" rating on shares of SAP in a report on Friday, May 2nd. Finally, JMP Securities raised their target price on SAP from $330.00 to $375.00 and gave the stock a "market outperform" rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price 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.