SAP SE (NYSE:SAP) Shares Sold by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers reduced its stake in SAP SE by 10.4%, selling 3,915 shares, and now holds 33,583 shares valued at approximately $9 million.
• GAMMA Investing LLC significantly increased its stake in SAP by nearly 31,239.5%, acquiring over 1.3 million shares, contributing to a strong interest from various institutional investors.
• Analysts have issued numerous upgrades for SAP, with Barclays raising its target price to $322 and maintaining an "overweight" rating, indicating a positive outlook for the stock.

Cetera Investment Advisers cut its stake in shares of SAP SE (NYSE:SAP - Free Report) by 10.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,583 shares of the software maker's stock after selling 3,915 shares during the quarter. Cetera Investment Advisers' holdings in SAP were worth $9,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Avantax Advisory Services Inc. increased its position in shares of SAP by 0.3% in the first quarter. Avantax Advisory Services Inc. now owns 21,911 shares of the software maker's stock valued at $5,882,000 after acquiring an additional 76 shares during the period. Argonautica Private Wealth Management Inc. increased its stake in SAP by 6.6% during the 1st quarter. Argonautica Private Wealth Management Inc. now owns 2,551 shares of the software maker's stock valued at $685,000 after purchasing an additional 159 shares in the last quarter. Carnegie Investment Counsel purchased a new position in SAP in the 1st quarter worth approximately $244,000. Pinnacle Associates Ltd. increased its holdings in shares of SAP by 10.8% in the 1st quarter. Pinnacle Associates Ltd. now owns 5,459 shares of the software maker's stock worth $1,465,000 after purchasing an additional 532 shares in the last quarter. Finally, Wedbush Securities Inc. raised its position in SAP by 52.8% in the 1st quarter. Wedbush Securities Inc. now owns 1,744 shares of the software maker's stock worth $468,000 after buying an additional 603 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently commented on SAP. UBS Group upgraded SAP to a "strong-buy" rating in a research report on Friday, May 30th. Barclays reaffirmed an "overweight" rating and set a $322.00 price objective (up from $308.00) on shares of SAP in a report on Friday, July 25th. Wall Street Zen downgraded SAP from a "buy" rating to a "hold" rating in a research report on Saturday. Piper Sandler began coverage on SAP in a research report on Tuesday, June 17th. They set an "overweight" rating for the company. Finally, JMP Securities increased their target price on shares of SAP from $330.00 to $375.00 and gave the stock a "market outperform" rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $281.67.

SAP Stock Performance

NYSE SAP traded up $0.82 on Monday, hitting $283.82. 886,206 shares of the company's stock traded hands, compared to its average volume of 1,332,384. The firm has a market capitalization of $348.67 billion, a PE ratio of 46.99, a P/E/G ratio of 4.07 and a beta of 1.27. SAP SE has a 1-year low of $194.93 and a 1-year high of $313.28. The firm's 50-day moving average price is $298.92 and its two-hundred day moving average price is $284.35. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.15.

SAP (NYSE:SAP - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.70 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.07. The company had revenue of $10.58 billion during 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 firm's revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.10 earnings per share. As a group, analysts expect that SAP SE will post 6.55 EPS for the current year.

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.