Choreo LLC Trims Stock Holdings in SAP SE (NYSE:SAP)

Choreo LLC cut its position in shares of SAP SE (NYSE:SAP - Free Report) by 3.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,426 shares of the software maker's stock after selling 885 shares during the quarter. Choreo LLC's holdings in SAP were worth $6,289,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in SAP. GAMMA Investing LLC boosted its position in shares of SAP by 31,239.5% during the first 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 in the last quarter. TD Asset Management Inc. increased its holdings in shares of SAP by 125.0% during the fourth quarter. TD Asset Management Inc. now owns 1,602,548 shares of the software maker's stock valued at $394,563,000 after acquiring an additional 890,157 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of SAP by 145.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,346,506 shares of the software maker's stock worth $331,523,000 after purchasing an additional 798,037 shares during the last quarter. Northern Trust Corp raised its position in shares of SAP by 91.2% in the 4th quarter. Northern Trust Corp now owns 1,471,798 shares of the software maker's stock worth $362,371,000 after purchasing an additional 701,880 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in SAP in the 4th quarter worth about $163,630,000.

SAP Stock Performance

SAP stock traded up $1.59 during trading on Friday, reaching $287.75. The stock had a trading volume of 1,608,657 shares, compared to its average volume of 1,304,201. SAP SE has a 52 week low of $194.93 and a 52 week high of $313.28. The stock's 50 day moving average is $300.15 and its two-hundred day moving average is $283.08. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15. The firm has a market cap of $353.50 billion, a PE ratio of 47.64, a PEG ratio of 4.13 and a beta of 1.30.

SAP (NYSE:SAP - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The software maker reported $1.70 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.07. The company had revenue of $10.58 billion for the quarter, compared to the consensus estimate of $9.10 billion. SAP had a return on equity of 14.77% and a net margin of 18.26%. SAP's revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 earnings per share. As a group, equities analysts anticipate that SAP SE will post 6.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SAP shares. JMP Securities raised their price objective on shares of SAP from $330.00 to $375.00 and gave the company a "market outperform" rating in a research note on Wednesday. Piper Sandler assumed coverage on shares of SAP in a research note on Tuesday, June 17th. They set an "overweight" rating on the stock. Barclays upped their target price on shares of SAP from $308.00 to $322.00 and gave the company an "overweight" rating in a research note on Friday. Jefferies Financial Group restated a "buy" rating on shares of SAP in a research note on Friday, May 2nd. Finally, BMO Capital Markets upped their target price on shares of SAP from $320.00 to $330.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $281.67.

About SAP

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.