Connor Clark & Lunn Investment Management Ltd. Trims Stock Position in SAP SE (NYSE:SAP)

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly reduced its stake in SAP SE by 94.8% in the first quarter, holding only 21,409 shares after selling 392,745 shares.
• Despite this reduction, multiple institutional investors and hedge funds increased their positions in SAP, with Bartlett & Co. raising its stake by 585.7%.
• Analysts maintain a positive outlook on SAP, with an average rating of "Buy" and a target price of $281.67, reflecting confidence in the company's growth potential.

Connor Clark & Lunn Investment Management Ltd. reduced its position in SAP SE (NYSE:SAP - Free Report) by 94.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,409 shares of the software maker's stock after selling 392,745 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in SAP were worth $5,747,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bartlett & CO. Wealth Management LLC lifted its stake in SAP by 585.7% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 96 shares of the software maker's stock worth $26,000 after purchasing an additional 82 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its stake in SAP by 153.5% during the first quarter. Creative Financial Designs Inc. ADV now owns 109 shares of the software maker's stock worth $29,000 after purchasing an additional 66 shares during the last quarter. Founders Capital Management lifted its stake in SAP by 133.9% during the first quarter. Founders Capital Management now owns 131 shares of the software maker's stock worth $35,000 after purchasing an additional 75 shares during the last quarter. Highline Wealth Partners LLC lifted its stake in SAP by 126.2% during the first quarter. Highline Wealth Partners LLC now owns 138 shares of the software maker's stock worth $37,000 after purchasing an additional 77 shares during the last quarter. Finally, Cornerstone Planning Group LLC lifted its stake in SAP by 108.6% during the first quarter. Cornerstone Planning Group LLC now owns 194 shares of the software maker's stock worth $53,000 after purchasing an additional 101 shares during the last quarter.

SAP Price Performance

SAP stock traded down $1.19 on Friday, reaching $277.72. 1,292,621 shares of the company's stock were exchanged, compared to its average volume of 1,766,306. The stock has a fifty day moving average of $295.20 and a 200-day moving average of $285.17. SAP SE has a twelve month low of $210.38 and a twelve month high of $313.28. The firm has a market cap of $341.18 billion, a PE ratio of 45.98, a P/E/G ratio of 4.00 and a beta of 1.27. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.15.

SAP (NYSE:SAP - Get Free Report) last announced 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. SAP had a return on equity of 14.84% and a net margin of 18.26%. The firm had revenue of $10.58 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the prior year, the company posted $1.10 earnings per share. SAP's quarterly revenue was up 8.9% on a year-over-year basis. As a group, equities analysts predict that SAP SE will post 6.55 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on SAP. BMO Capital Markets boosted their price objective on SAP from $320.00 to $330.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. Piper Sandler began coverage on SAP in a research note on Tuesday, June 17th. They issued an "overweight" rating for the company. JMP Securities boosted their price objective on SAP from $330.00 to $375.00 and gave the company a "market outperform" rating in a research note on Wednesday, July 23rd. Argus reiterated a "buy" rating and issued a $320.00 price objective on shares of SAP in a research note on Tuesday, April 29th. Finally, Barclays reiterated an "overweight" rating and issued a $322.00 price objective (up previously from $308.00) on shares of SAP in a research note on Friday, July 25th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $281.67.

SAP Company 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.