iA Global Asset Management Inc. Sells 12,830 Shares of SAP SE (NYSE:SAP)

Key Points

• iA Global Asset Management Inc. reduced its stake in SAP SE by 40.3%, selling 12,830 shares and bringing its total holdings to 19,010 shares valued at approximately $5.1 million.
• Several analysts have boosted their price targets for SAP, with JMP Securities raising theirs from $330 to $375, while the stock currently holds an average rating of "Buy" and an average target price of $281.67.
• SAP reported earnings of $1.70 per share for the quarter, surpassing estimates and showing an 8.9% revenue increase year-over-year, with quarterly revenue reaching $10.58 billion.

iA Global Asset Management Inc. cut its stake in SAP SE (NYSE:SAP - Free Report) by 40.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,010 shares of the software maker's stock after selling 12,830 shares during the period. iA Global Asset Management Inc.'s holdings in SAP were worth $5,103,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Principal Street Partners LLC raised its holdings in SAP by 1.0% during the 4th quarter. Principal Street Partners LLC now owns 3,688 shares of the software maker's stock worth $908,000 after purchasing an additional 35 shares during the last quarter. Cordatus Wealth Management LLC grew 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 worth $889,000 after buying an additional 37 shares during the period. Alaethes Wealth LLC grew 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 worth $2,730,000 after buying an additional 39 shares during the period. LCM Capital Management Inc grew 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 worth $557,000 after buying an additional 39 shares during the period. Finally, Bingham Private Wealth LLC grew its position in shares of SAP by 4.1% during the 1st quarter. Bingham Private Wealth LLC now owns 1,017 shares of the software maker's stock worth $273,000 after buying an additional 40 shares during the period.

Analysts Set New Price Targets

A number of research firms have commented on SAP. JMP Securities lifted their target price on shares of SAP from $330.00 to $375.00 and gave the stock a "market outperform" rating in a report on Wednesday, July 23rd. Piper Sandler assumed coverage on SAP in a report on Tuesday, June 17th. They issued an "overweight" rating for the company. Morgan Stanley reiterated an "overweight" rating on shares of SAP in a report on Tuesday. Wells Fargo & Company assumed coverage on SAP in a research report on Tuesday, May 20th. They set an "overweight" rating for the company. Finally, Argus restated a "buy" rating and set a $320.00 target price on shares of SAP in a research report on Tuesday, April 29th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $281.67.

SAP Stock Up 0.5%

NYSE:SAP opened at $285.30 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average price of $298.38 and a two-hundred day moving average price of $284.51. SAP SE has a 1 year low of $201.03 and a 1 year high of $313.28. The stock has a market cap of $350.49 billion, a price-to-earnings ratio of 47.24, a PEG ratio of 4.08 and a beta of 1.27.

SAP (NYSE:SAP - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.07. The business had revenue of $10.58 billion during the quarter, compared to analyst estimates of $9.10 billion. SAP had a return on equity of 14.84% and a net margin of 18.26%. SAP's quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.10 EPS. As a group, equities analysts expect that SAP SE will post 6.55 earnings per share for the current 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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