Envestnet Asset Management Inc. Sells 162,085 Shares of SAP SE (NYSE:SAP)

Envestnet Asset Management Inc. cut its stake in SAP SE (NYSE:SAP - Free Report) by 13.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,010,018 shares of the software maker's stock after selling 162,085 shares during the quarter. Envestnet Asset Management Inc. owned about 0.08% of SAP worth $271,129,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Financiere des Professionnels Fonds d investissement inc. purchased a new position in SAP during the first quarter worth about $430,000. Cloud Capital Management LLC bought a new stake in SAP during the 1st quarter valued at $165,000. Concurrent Investment Advisors LLC raised its position in SAP by 124.8% during the 1st quarter. Concurrent Investment Advisors LLC now owns 3,241 shares of the software maker's stock valued at $870,000 after purchasing an additional 1,799 shares during the last quarter. World Investment Advisors raised its position in SAP by 30.5% during the 1st quarter. World Investment Advisors now owns 2,300 shares of the software maker's stock valued at $617,000 after purchasing an additional 537 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. bought a new position in SAP during the 1st quarter valued at approximately $9,650,000.

Analysts Set New Price Targets

A number of research analysts have weighed in on SAP shares. Jefferies Financial Group reiterated a "buy" rating on shares of SAP in a report on Friday, May 2nd. BMO Capital Markets increased their target price on SAP from $320.00 to $330.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. Barclays reiterated an "overweight" rating and set a $308.00 target price (up from $286.00) on shares of SAP in a research note on Thursday, April 24th. JMP Securities restated a "market outperform" rating and issued a $330.00 price target on shares of SAP in a research note on Friday, May 23rd. Finally, Argus restated a "buy" rating and issued a $320.00 price target on shares of SAP in a research note on Tuesday, April 29th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $271.83.

SAP Price Performance

NYSE:SAP opened at $305.12 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.15. The business's 50-day simple moving average is $298.01 and its two-hundred day simple moving average is $278.11. The stock has a market cap of $374.84 billion, a PE ratio of 58.45, a P/E/G ratio of 4.34 and a beta of 1.30. SAP SE has a 52 week low of $194.93 and a 52 week high of $311.40.

SAP (NYSE:SAP - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The software maker reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.12. The firm had revenue of $10.35 billion during the quarter, compared to analyst estimates of $9.08 billion. SAP had a return on equity of 13.66% and a net margin of 16.33%. As a group, analysts forecast that SAP SE will post 6.55 EPS for the current fiscal year.

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.

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