PNC Financial Services Group Inc. Has $23.03 Million Holdings in SAP SE (NYSE:SAP)

PNC Financial Services Group Inc. cut its holdings in SAP SE (NYSE:SAP - Free Report) by 11.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 85,807 shares of the software maker's stock after selling 11,604 shares during the quarter. PNC Financial Services Group Inc.'s holdings in SAP were worth $23,034,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SAP. Bartlett & CO. Wealth Management LLC grew its holdings in SAP by 585.7% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 96 shares of the software maker's stock worth $26,000 after buying an additional 82 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in SAP by 153.5% during the first quarter. Creative Financial Designs Inc. ADV now owns 109 shares of the software maker's stock worth $29,000 after buying an additional 66 shares in the last quarter. Founders Capital Management grew its holdings in SAP by 133.9% during the first quarter. Founders Capital Management now owns 131 shares of the software maker's stock worth $35,000 after buying an additional 75 shares in the last quarter. Highline Wealth Partners LLC grew its holdings in SAP by 126.2% during the first 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, Cornerstone Planning Group LLC grew its holdings in SAP by 108.6% during the first quarter. Cornerstone Planning Group LLC now owns 194 shares of the software maker's stock worth $53,000 after buying an additional 101 shares in the last quarter.

SAP Stock Up 0.4%

SAP stock opened at $284.05 on Tuesday. 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 market capitalization of $348.96 billion, a price-to-earnings ratio of 47.03, a PEG ratio of 4.07 and a beta of 1.27. SAP SE has a fifty-two week low of $194.93 and a fifty-two week high of $313.28. The stock has a fifty day moving average of $298.70 and a 200-day moving average of $284.50.

SAP (NYSE:SAP - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $10.58 billion during the quarter, compared to the consensus estimate of $9.10 billion. SAP had a return on equity of 14.84% and a net margin of 18.26%. The firm's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.10 EPS. As a group, equities research analysts predict that SAP SE will post 6.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. UBS Group upgraded SAP to a "strong-buy" rating in a report on Friday, May 30th. Piper Sandler initiated coverage on SAP in a report on Tuesday, June 17th. They set an "overweight" rating for the company. BMO Capital Markets upped their price objective on SAP from $320.00 to $330.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. Barclays restated an "overweight" rating and issued a $322.00 price objective (up previously from $308.00) on shares of SAP in a research note on Friday, July 25th. Finally, Wells Fargo & Company initiated coverage on SAP in a research note on Tuesday, May 20th. They issued an "overweight" rating for the company. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus 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.

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