Harvest Portfolios Group Inc. Has $521,000 Position in SAP SE $SAP

Key Points

• Harvest Portfolios Group Inc. reduced its position in SAP SE by 43.7% during the first quarter, selling 1,508 shares and ending with 1,941 shares worth $521,000.
• Several hedge funds increased their stakes in SAP, with Synovus Financial Corp and ICONIQ Capital LLC boosting their holdings by 43.1% and 17.9% respectively during the same period.
• Analysts hold a consensus rating of "Buy" for SAP shares, with UBS Group upgrading the stock to a "strong-buy" and a consensus target price of $281.67.

Harvest Portfolios Group Inc. trimmed its holdings in shares of SAP SE (NYSE:SAP - Free Report) by 43.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,941 shares of the software maker's stock after selling 1,508 shares during the period. Harvest Portfolios Group Inc.'s holdings in SAP were worth $521,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Principal Street Partners LLC boosted its position in shares of SAP by 1.0% during the 4th quarter. Principal Street Partners LLC now owns 3,688 shares of the software maker's stock valued at $908,000 after purchasing an additional 35 shares in the last quarter. Independent Advisor Alliance boosted its position in shares of SAP by 0.4% during the 1st quarter. Independent Advisor Alliance now owns 9,957 shares of the software maker's stock valued at $2,673,000 after purchasing an additional 35 shares in the last quarter. Cordatus Wealth Management LLC boosted its position in shares of SAP by 1.1% during the 1st quarter. Cordatus Wealth Management LLC now owns 3,310 shares of the software maker's stock valued at $889,000 after purchasing an additional 37 shares in the last quarter. Alaethes Wealth LLC boosted its position in shares of SAP by 0.4% during the 4th quarter. Alaethes Wealth LLC now owns 11,087 shares of the software maker's stock valued at $2,730,000 after purchasing an additional 39 shares in the last quarter. Finally, LCM Capital Management Inc boosted its position in shares of SAP by 1.9% during the 1st quarter. LCM Capital Management Inc now owns 2,074 shares of the software maker's stock valued at $557,000 after purchasing an additional 39 shares in the last quarter.

SAP Stock Down 1.2%

Shares of SAP stock traded down $3.38 during trading on Friday, hitting $272.02. 1,207,991 shares of the company were exchanged, compared to its average volume of 1,556,604. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $334.18 billion, a price-to-earnings ratio of 45.04, a P/E/G ratio of 3.96 and a beta of 1.27. The business's 50-day simple moving average is $290.52 and its 200 day simple moving average is $284.61. SAP SE has a twelve month low of $210.38 and a twelve month 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 EPS for the quarter, topping the consensus estimate of $1.63 by $0.07. The business had revenue of $10.58 billion during the quarter, compared to analysts' expectations 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 earnings per share. As a group, analysts forecast that SAP SE will post 6.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SAP shares. Jefferies Financial Group restated a "buy" rating on shares of SAP in a research report on Friday, May 2nd. Barclays reiterated an "overweight" rating and issued a $322.00 target price (up from $308.00) on shares of SAP in a report on Friday, July 25th. Morgan Stanley reiterated an "overweight" rating on shares of SAP in a report on Tuesday, August 5th. Wall Street Zen upgraded shares of SAP from a "hold" rating to a "buy" rating in a report on Saturday, August 23rd. Finally, Wells Fargo & Company initiated coverage on shares of SAP in a report on Tuesday, May 20th. They issued an "overweight" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus 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.