JPMorgan Chase & Co. Trims Stock Position in SAP SE (NYSE:SAP)

Key Points

• JPMorgan Chase & Co. has reduced its stake in SAP SE by 25.0%, selling 337,061 shares and holding 1,009,445 shares valued at approximately $270.98 million.
• Several institutional investors increased their stakes in SAP during the 1st quarter, with Bartlett & CO. Wealth Management LLC leading with a 585.7% increase.
• Analyst ratings for SAP are mixed; Barclays and Morgan Stanley maintain "overweight" ratings with price target adjustments, while Wall Street Zen downgraded SAP from "buy" to "hold."

JPMorgan Chase & Co. lowered its position in SAP SE (NYSE:SAP - Free Report) by 25.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,009,445 shares of the software maker's stock after selling 337,061 shares during the period. JPMorgan Chase & Co. owned about 0.08% of SAP worth $270,976,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Deutsche Bank AG boosted its holdings in shares of SAP by 41.3% during the 4th quarter. Deutsche Bank AG now owns 4,773 shares of the software maker's stock valued at $1,175,000 after purchasing an additional 1,396 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in shares of SAP during the 1st quarter valued at about $1,580,000. Hennion & Walsh Asset Management Inc. bought a new position in shares of SAP during the 1st quarter valued at about $790,000. Alliancebernstein L.P. boosted its holdings 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 valued at $313,000 after purchasing an additional 172 shares during the last quarter. Finally, TD Asset Management Inc boosted its holdings in shares of SAP by 3.8% during the 1st quarter. TD Asset Management Inc now owns 1,662,809 shares of the software maker's stock valued at $446,364,000 after purchasing an additional 60,261 shares during the last quarter.

SAP Trading Down 0.4%

SAP stock traded down $1.19 during midday trading on Friday, reaching $277.72. The stock had a trading volume of 1,292,621 shares, compared to its average volume of 1,766,306. 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 SE has a 52-week low of $210.38 and a 52-week high of $313.28. The firm has a market cap of $341.18 billion, a price-to-earnings ratio of 45.98, a price-to-earnings-growth ratio of 4.00 and a beta of 1.27. The company has a fifty day moving average of $295.20 and a 200 day moving average of $285.17.

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

Analyst Upgrades and Downgrades

Several research firms have commented on SAP. BMO Capital Markets increased their price objective on shares of SAP from $320.00 to $330.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. JMP Securities increased their price objective on shares of SAP from $330.00 to $375.00 and gave the company a "market outperform" rating in a report on Wednesday, July 23rd. Wall Street Zen downgraded shares of SAP from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Piper Sandler started coverage on shares of SAP in a report on Tuesday, June 17th. They issued an "overweight" rating for the company. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of SAP in a report on Friday, May 2nd. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target 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.