Cidel Asset Management Inc. Has $17.25 Million Stock Position in SAP SE $SAP

Key Points

• Cidel Asset Management cut its SAP position by 22.1% in the second quarter, selling 31,804 shares and retaining 111,952 shares valued at approximately $17.25 million.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $264.83, despite Barclays lowering its target and one firm downgrading the stock to “Hold.”
• SAP’s latest quarterly earnings missed expectations, reporting $1.82 in EPS versus $2.00 expected, while revenue rose 9.4% year over year to $11.27 billion.

Cidel Asset Management Inc. reduced its position in shares of SAP SE (NYSE:SAP - Free Report) by 22.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 111,952 shares of the software maker's stock after selling 31,804 shares during the period. Cidel Asset Management Inc.'s holdings in SAP were worth $17,253,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bayban acquired a new stake in shares of SAP during the fourth quarter worth approximately $28,000. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of SAP by 758.8% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 146 shares of the software maker's stock worth $35,000 after acquiring an additional 129 shares in the last quarter. Riggs Asset Managment Co. Inc. grew its position in SAP by 83.8% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 147 shares of the software maker's stock worth $45,000 after acquiring an additional 67 shares during the last quarter. JPL Wealth Management LLC bought a new stake in SAP during the 3rd quarter worth approximately $49,000. Finally, Front Row Advisors LLC increased its holdings in SAP by 362.5% during the 1st quarter. Front Row Advisors LLC now owns 185 shares of the software maker's stock valued at $32,000 after purchasing an additional 145 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have commented on the company. TD Cowen reissued a "buy" rating on shares of SAP in a research note on Friday, July 24th. Barclays cut their price target on SAP from $255.00 to $242.00 and set an "overweight" rating for the company in a report on Monday, July 27th. The Goldman Sachs Group reissued a "buy" rating and set a $265.00 price objective on shares of SAP in a report on Wednesday, June 10th. Wall Street Zen downgraded shares of SAP from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, Weiss Ratings raised shares of SAP from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $264.83.

SAP Price Performance

Shares of SAP stock opened at $211.45 on Wednesday. The stock has a 50-day moving average price of $188.62 and a 200 day moving average price of $180.59. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. The firm has a market cap of $259.77 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 2.56 and a beta of 1.14. SAP SE has a 12 month low of $144.97 and a 12 month high of $281.36.

SAP (NYSE:SAP - Get Free Report) last released its earnings results on Wednesday, July 22nd. The software maker reported $1.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.00 by ($0.18). SAP had a net margin of 20.88% and a return on equity of 17.07%. The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.30 billion. During the same quarter in the previous year, the company posted $1.50 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. Research analysts expect that SAP SE will post 8.18 EPS for the current year.

About SAP

SAP SE is a German enterprise software company headquartered in Walldorf, Germany. The company develops technology that helps organizations manage core business operations, including finance, procurement, supply chain, manufacturing, human resources, sales and customer relationships.

SAP's portfolio is centered on its cloud-based enterprise resource planning platform, SAP S/4HANA, along with the SAP Business Technology Platform. Its products and services also include SAP SuccessFactors for human resources, SAP Ariba for business-to-business procurement, SAP Concur for travel and expense management, and solutions for customer experience, data management, analytics and artificial intelligence.

SAP was founded in 1972 by five former IBM employees and has grown into a global provider of business software.

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