Kovitz Investment Group Partners LLC Has $2.94 Million Stake in SAP SE $SAP

Key Points

• Kovitz Investment Group Partners LLC reduced its stake in SAP SE by 8.8%, selling 1,061 shares and bringing its total ownership to 10,955 shares worth approximately $2.94 million.
• Wall Street analysts have shown confidence in SAP's growth, with several firms raising their price targets and maintaining strong ratings, indicating a consensus rating of "Buy" and an average price target of $281.67.
• SAP reported a better-than-expected quarterly earnings with $1.70 EPS, surpassing estimates, and achieved a revenue of $10.58 billion, indicating an 8.9% year-over-year increase.

Kovitz Investment Group Partners LLC decreased its position in SAP SE (NYSE:SAP - Free Report) by 8.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 10,955 shares of the software maker's stock after selling 1,061 shares during the period. Kovitz Investment Group Partners LLC's holdings in SAP were worth $2,941,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC raised its position in SAP by 585.7% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 96 shares of the software maker's stock valued at $26,000 after buying an additional 82 shares during the period. Creative Financial Designs Inc. ADV grew its position in SAP by 153.5% during the first quarter. Creative Financial Designs Inc. ADV now owns 109 shares of the software maker's stock valued at $29,000 after purchasing an additional 66 shares in the last quarter. Founders Capital Management increased its stake in SAP by 133.9% in the 1st quarter. Founders Capital Management now owns 131 shares of the software maker's stock valued at $35,000 after buying an additional 75 shares during the period. Highline Wealth Partners LLC lifted its position in SAP by 126.2% in the 1st quarter. Highline Wealth Partners LLC now owns 138 shares of the software maker's stock worth $37,000 after buying an additional 77 shares in the last quarter. Finally, Dagco Inc. acquired a new stake in shares of SAP during the 1st quarter valued at $45,000.

SAP Stock Performance

NYSE SAP traded up $1.6060 during trading on Friday, hitting $270.8160. The company's stock had a trading volume of 1,172,780 shares, compared to its average volume of 1,361,527. SAP SE has a 52 week low of $210.38 and a 52 week high of $313.28. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.15. The firm has a market cap of $332.70 billion, a P/E ratio of 44.84, a price-to-earnings-growth ratio of 3.92 and a beta of 1.27. The firm has a 50 day moving average price of $292.82 and a 200 day moving average price of $285.03.

SAP (NYSE:SAP - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The software maker reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.07. The business had revenue of $10.58 billion for the quarter, compared to analyst estimates of $9.10 billion. SAP had a net margin of 18.26% and a return on equity of 14.84%. SAP's revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.10 earnings per share. Equities research analysts forecast that SAP SE will post 6.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SAP. Piper Sandler began coverage on SAP in a report on Tuesday, June 17th. They set an "overweight" rating for the company. Erste Group Bank downgraded SAP from a "buy" rating to a "hold" rating in a research note on Thursday, August 14th. Morgan Stanley reiterated an "overweight" rating on shares of SAP in a report on Tuesday, August 5th. Jefferies Financial Group restated a "buy" rating on shares of SAP in a report on Friday, May 2nd. Finally, Argus reiterated a "buy" rating and issued a $320.00 target price on shares of SAP in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price 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.