Portside Wealth Group LLC Sells 1,366 Shares of SAP SE (NYSE:SAP)

Portside Wealth Group LLC cut its stake in SAP SE (NYSE:SAP - Free Report) by 17.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,370 shares of the software maker's stock after selling 1,366 shares during the quarter. Portside Wealth Group LLC's holdings in SAP were worth $1,710,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. First Citizens Bank & Trust Co. bought a new stake in SAP in the 1st quarter valued at $215,000. Park Avenue Securities LLC lifted its holdings in shares of SAP by 16.4% during the first quarter. Park Avenue Securities LLC now owns 23,171 shares of the software maker's stock worth $6,220,000 after buying an additional 3,265 shares in the last quarter. Wedmont Private Capital boosted its position in shares of SAP by 6.8% in the first quarter. Wedmont Private Capital now owns 2,058 shares of the software maker's stock valued at $533,000 after acquiring an additional 131 shares during the period. Sivia Capital Partners LLC grew its stake in shares of SAP by 7.6% in the first quarter. Sivia Capital Partners LLC now owns 2,981 shares of the software maker's stock valued at $800,000 after acquiring an additional 210 shares in the last quarter. Finally, Perkins Coie Trust Co acquired a new position in shares of SAP in the first quarter valued at about $54,000.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. BMO Capital Markets boosted their price objective on shares of SAP from $320.00 to $330.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Barclays reiterated an "overweight" rating and issued a $308.00 price target (up from $286.00) on shares of SAP in a research report on Thursday, April 24th. Argus reiterated a "buy" rating and issued a $320.00 price target on shares of SAP in a research note on Tuesday, April 29th. JMP Securities restated a "market outperform" rating and set a $330.00 price objective on shares of SAP in a research note on Friday, May 23rd. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of SAP in a report on Friday, May 2nd. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $271.83.

SAP Price Performance

NYSE:SAP traded down $4.51 during mid-day trading on Monday, reaching $305.29. The stock had a trading volume of 1,128,656 shares, compared to its average volume of 1,058,657. The stock has a 50-day simple moving average of $281.91 and a two-hundred day simple moving average of $270.46. The stock has a market capitalization of $375.05 billion, a PE ratio of 106.37, a P/E/G ratio of 4.71 and a beta of 1.32. SAP SE has a 12 month low of $186.40 and a 12 month high of $311.40. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.12 and a quick ratio of 1.10.

SAP (NYSE:SAP - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The software maker reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.12. SAP had a return on equity of 12.18% and a net margin of 9.17%. The business had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $9.08 billion. On average, equities analysts anticipate that SAP SE will post 6.55 earnings per share for the current year.

SAP Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th were paid a $2.5423 dividend. This is an increase from SAP's previous annual dividend of $2.39. This represents a dividend yield of 0.8%. The ex-dividend date was Tuesday, May 13th. SAP's dividend payout ratio (DPR) is presently 35.25%.

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.