NewEdge Advisors LLC Sells 174,685 Shares of SAP SE $SAP

Key Points

• NewEdge Advisors sharply reduced its SAP position by selling 174,685 shares, an 81.8% decrease, leaving the firm with 38,797 shares valued at approximately $5.98 million.
• Analyst sentiment remains positive, with SAP holding a consensus “Moderate Buy” rating and an average price target of $255.67. Ratings include 13 Buys, eight Holds and one Strong Buy.
• SAP reported quarterly revenue of $11.27 billion, up 9.4% year over year, but earnings of $1.82 per share missed the $2.00 consensus estimate. The stock opened at $206.39, with a market capitalization of roughly $253.55 billion.

NewEdge Advisors LLC lessened its holdings in shares of SAP SE (NYSE:SAP - Free Report) by 81.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,797 shares of the software maker's stock after selling 174,685 shares during the quarter. NewEdge Advisors LLC's holdings in SAP were worth $5,979,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bayban bought a new position in shares of SAP during the 4th quarter valued at about $28,000. Continuum Advisory LLC bought a new position in SAP in the second quarter valued at approximately $31,000. Front Row Advisors LLC boosted its holdings in shares of SAP by 362.5% in the first quarter. Front Row Advisors LLC now owns 185 shares of the software maker's stock valued at $32,000 after buying an additional 145 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of SAP by 758.8% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 146 shares of the software maker's stock worth $35,000 after acquiring an additional 129 shares in the last quarter. Finally, Markowski Investments acquired a new stake in shares of SAP during the second quarter worth $41,000.

Analyst Ratings Changes

A number of equities analysts have issued reports on SAP shares. Oppenheimer reiterated a "market perform" rating on shares of SAP in a report on Friday, July 24th. Barclays dropped their target price on SAP from $255.00 to $242.00 and set an "overweight" rating on the stock in a research report on Monday, July 27th. Weiss Ratings raised shares of SAP from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, July 30th. Citigroup reissued a "buy" rating on shares of SAP in a research report on Thursday, August 27th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $265.00 price target on shares of SAP in a research note on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, SAP presently has a consensus rating of "Moderate Buy" and an average target price of $255.67.

SAP Stock Up 0.0%

SAP stock opened at $206.39 on Monday. The company has a market cap of $253.55 billion, a price-to-earnings ratio of 25.93, a P/E/G ratio of 2.45 and a beta of 1.14. SAP SE has a twelve month low of $144.97 and a twelve month high of $281.36. The business has a 50 day moving average price of $191.36 and a two-hundred day moving average price of $180.75. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.19.

SAP (NYSE:SAP - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The software maker reported $1.82 EPS for the quarter, missing the consensus estimate of $2.00 by ($0.18). SAP had a net margin of 20.88% and a return on equity of 17.07%. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.30 billion. During the same period in the previous year, the company posted $1.50 EPS. The company's quarterly revenue was up 9.4% compared to the same quarter last year. Analysts anticipate that SAP SE will post 8.17 EPS for the current fiscal year.

SAP Profile

SAP SE is a German enterprise software company headquartered in Walldorf, Germany. The company develops technology that helps organizations manage core business operations, including finance, procurement, supply chain, manufacturing, human resources, sales and customer relationships.

SAP's portfolio is centered on its cloud-based enterprise resource planning platform, SAP S/4HANA, along with the SAP Business Technology Platform. Its products and services also include SAP SuccessFactors for human resources, SAP Ariba for business-to-business procurement, SAP Concur for travel and expense management, and solutions for customer experience, data management, analytics and artificial intelligence.

SAP was founded in 1972 by five former IBM employees and has grown into a global provider of business software.

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