Foresight Global Investors Inc. Has $19.68 Million Stock Position in SAP SE (NYSE:SAP)

Key Points

• Foresight Global Investors Inc. has reduced its stake in SAP SE by 30.9%, bringing its total shares to 73,325, valued at approximately $19.68 million.
• Several hedge funds, including Brighton Jones LLC and Alliancebernstein L.P., have increased their positions in SAP SE during the fourth quarter, indicating growing institutional interest.
• SAP's latest earnings report revealed a beat on earnings per share at $1.70, surpassing estimates, with revenue of $10.58 billion, up 8.9% year-over-year.

Foresight Global Investors Inc. reduced its position in shares of SAP SE (NYSE:SAP - Free Report) by 30.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,325 shares of the software maker's stock after selling 32,764 shares during the quarter. SAP accounts for approximately 13.8% of Foresight Global Investors Inc.'s investment portfolio, making the stock its 3rd biggest holding. Foresight Global Investors Inc.'s holdings in SAP were worth $19,683,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC boosted its position in SAP by 91.1% during the fourth quarter. Brighton Jones LLC now owns 2,633 shares of the software maker's stock worth $648,000 after purchasing an additional 1,255 shares during the period. Alliancebernstein L.P. lifted its stake in shares of SAP by 15.7% during the 4th quarter. Alliancebernstein L.P. now owns 1,271 shares of the software maker's stock worth $313,000 after buying an additional 172 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of SAP by 12.3% during the 4th quarter. Franklin Resources Inc. now owns 48,893 shares of the software maker's stock worth $12,038,000 after buying an additional 5,345 shares during the period. Wedbush Securities Inc. grew its stake in SAP by 25.2% in the 4th quarter. Wedbush Securities Inc. now owns 1,141 shares of the software maker's stock valued at $281,000 after buying an additional 230 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in SAP by 3.3% in the 4th quarter. Russell Investments Group Ltd. now owns 107,735 shares of the software maker's stock valued at $26,525,000 after acquiring an additional 3,449 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SAP. BMO Capital Markets boosted their price objective on SAP from $320.00 to $330.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. Argus restated a "buy" rating and issued a $320.00 price target on shares of SAP in a research note on Tuesday, April 29th. Morgan Stanley reaffirmed an "overweight" rating on shares of SAP in a report on Tuesday. Wells Fargo & Company started coverage on SAP in a report on Tuesday, May 20th. They set an "overweight" rating for the company. Finally, Barclays restated an "overweight" rating and issued a $322.00 price target (up from $308.00) on shares of SAP in a research note on Friday, July 25th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $281.67.

SAP Price Performance

SAP stock opened at $291.67 on Thursday. The stock has a fifty day moving average of $298.25 and a 200-day moving average of $284.56. The stock has a market capitalization of $358.32 billion, a P/E ratio of 48.29, a price-to-earnings-growth ratio of 4.10 and a beta of 1.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 1.03. SAP SE has a 52 week low of $201.36 and a 52 week high of $313.28.

SAP (NYSE:SAP - Get Free Report) last posted its quarterly 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 net margin of 18.26% and a return on equity of 14.84%. The firm's quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the company posted $1.10 EPS. On average, sell-side analysts expect that SAP SE will post 6.55 earnings per share for the current fiscal year.

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.

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