National Bank of Canada FI Lowers Position in SAP SE (NYSE:SAP)

Key Points

• National Bank of Canada FI reduced its stake in SAP SE by 26.4% in the first quarter, holding 55,743 shares valued at approximately $14.98 million.
• Various large investors significantly increased their holdings in SAP, with GAMMA Investing LLC growing its stake by 31,239.5%, now owning over 1.3 million shares worth $350 million.
• SAP reported earnings of $1.70 EPS for the last quarter, exceeding analysts' expectations and showcasing an 8.9% year-over-year revenue growth to $10.58 billion.

National Bank of Canada FI cut its position in shares of SAP SE (NYSE:SAP - Free Report) by 26.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,743 shares of the software maker's stock after selling 19,949 shares during the quarter. National Bank of Canada FI's holdings in SAP were worth $14,980,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of SAP. Bartlett & CO. Wealth Management LLC increased its position in shares of SAP by 585.7% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 96 shares of the software maker's stock valued at $26,000 after purchasing an additional 82 shares during the last quarter. Creative Financial Designs Inc. ADV increased its position in shares of SAP by 153.5% during the 1st 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 during the last quarter. Founders Capital Management increased its position in shares of SAP by 133.9% during the 1st quarter. Founders Capital Management now owns 131 shares of the software maker's stock valued at $35,000 after purchasing an additional 75 shares during the last quarter. Highline Wealth Partners LLC increased its position in shares of SAP by 126.2% during the 1st quarter. Highline Wealth Partners LLC now owns 138 shares of the software maker's stock valued at $37,000 after purchasing an additional 77 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in shares of SAP during the 1st quarter valued at about $53,000.

SAP Trading Up 1.2%

SAP stock traded up $3.29 during trading on Wednesday, hitting $279.18. 1,662,899 shares of the company traded hands, compared to its average volume of 1,755,955. SAP SE has a 1 year low of $210.38 and a 1 year high of $313.28. 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 company has a 50-day moving average of $296.44 and a 200-day moving average of $285.06. The firm has a market capitalization of $342.97 billion, a PE ratio of 46.22, a P/E/G ratio of 3.97 and a beta of 1.27.

SAP (NYSE:SAP - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.07. SAP had a return on equity of 14.84% and a net margin of 18.26%. The business had revenue of $10.58 billion during the quarter, compared to analysts' expectations of $9.10 billion. During the same quarter last year, the business posted $1.10 EPS. The business's revenue was up 8.9% on a year-over-year basis. Analysts predict that SAP SE will post 6.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SAP. Wall Street Zen lowered SAP from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Jefferies Financial Group restated a "buy" rating on shares of SAP in a report on Friday, May 2nd. Piper Sandler started coverage on SAP in a report on Tuesday, June 17th. They set an "overweight" rating for the company. BMO Capital Markets increased their target price on SAP from $320.00 to $330.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Finally, JMP Securities increased their target price on SAP from $330.00 to $375.00 and gave the company a "market outperform" rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average 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.