SAP SE (NYSE:SAP) Shares Sold by Polen Capital Management LLC

Key Points

• Polen Capital Management LLC reduced its stake in SAP SE by 45.7%, now holding 542,699 shares worth approximately $145.68 million, making it the firm's 26th largest position.
• Several other institutional investors significantly increased their holdings in SAP during the first quarter, with Bartlett & CO. Wealth Management boosting its position by 585.7%.
• SAP's recent quarterly earnings surpassed expectations, reporting $1.70 EPS compared to a consensus estimate of $1.63, alongside a revenue increase of 8.9% year-over-year.

Polen Capital Management LLC cut its holdings in SAP SE (NYSE:SAP - Free Report) by 45.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 542,699 shares of the software maker's stock after selling 457,245 shares during the period. SAP comprises about 0.5% of Polen Capital Management LLC's holdings, making the stock its 26th largest position. Polen Capital Management LLC's holdings in SAP were worth $145,682,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Bartlett & CO. Wealth Management LLC lifted its holdings in SAP by 585.7% in 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 in the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in SAP by 153.5% in 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 in the last quarter. Founders Capital Management lifted its holdings 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 purchasing an additional 75 shares in the last quarter. Highline Wealth Partners LLC lifted its holdings in SAP by 126.2% in 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 in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in SAP in the 1st quarter valued at about $53,000.

Analysts Set New Price Targets

A number of research analysts have issued reports on SAP shares. Piper Sandler started coverage on shares of SAP in a report on Tuesday, June 17th. They issued an "overweight" rating on the stock. UBS Group upgraded shares of SAP to a "strong-buy" rating in a report on Friday, May 30th. JMP Securities upped their target price 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. BMO Capital Markets increased their price objective on shares of SAP from $320.00 to $330.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. Finally, Wells Fargo & Company assumed coverage on shares of SAP in a report on Tuesday, May 20th. They set an "overweight" rating on the stock. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $281.67.

SAP Trading Down 3.9%

SAP traded down $11.16 on Tuesday, reaching $276.08. 5,248,798 shares of the company's stock were exchanged, compared to its average volume of 1,527,700. The company's 50 day moving average is $297.04 and its 200-day moving average is $285.10. The company has a market cap of $339.16 billion, a price-to-earnings ratio of 45.71, a PEG ratio of 4.13 and a beta of 1.27. SAP SE has a twelve month low of $208.24 and a twelve month 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.

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

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.