Procyon Advisors LLC Decreases Stake in SAP SE $SAP

Key Points

• Procyon Advisors LLC reduced its stake in SAP SE by 67.7% during the second quarter, selling 1,605 shares, leaving them with 767 shares worth $233,000.
• Several institutional investors, including Bartlett & CO. Wealth Management, increased their positions in SAP, with Bartlett boosting its holdings by 585.7% in the first quarter.
• SAP reported earnings of $1.70 per share for the latest quarter, exceeding expectations, with a revenue of $10.58 billion, marking an 8.9% year-over-year increase.

Procyon Advisors LLC lowered its stake in shares of SAP SE (NYSE:SAP - Free Report) by 67.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 767 shares of the software maker's stock after selling 1,605 shares during the quarter. Procyon Advisors LLC's holdings in SAP were worth $233,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Independent Advisor Alliance increased its holdings in SAP by 0.4% in the first quarter. Independent Advisor Alliance now owns 9,957 shares of the software maker's stock valued at $2,673,000 after buying an additional 35 shares in the last quarter. Cordatus Wealth Management LLC increased its stake in shares of SAP by 1.1% in the 1st quarter. Cordatus Wealth Management LLC now owns 3,310 shares of the software maker's stock valued at $889,000 after purchasing an additional 37 shares in the last quarter. LCM Capital Management Inc increased its stake in shares of SAP by 1.9% in the 1st quarter. LCM Capital Management Inc now owns 2,074 shares of the software maker's stock valued at $557,000 after purchasing an additional 39 shares in the last quarter. Bingham Private Wealth LLC increased its position in shares of SAP by 4.1% in the first quarter. Bingham Private Wealth LLC now owns 1,017 shares of the software maker's stock valued at $273,000 after buying an additional 40 shares in the last quarter. Finally, State of Wyoming increased its position in shares of SAP by 11.6% in the first quarter. State of Wyoming now owns 384 shares of the software maker's stock valued at $103,000 after buying an additional 40 shares in the last quarter.

SAP Trading Down 1.0%

Shares of NYSE SAP traded down $2.61 during mid-day trading on Friday, reaching $267.13. 1,670,653 shares of the company's stock were exchanged, compared to its average volume of 1,961,092. 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 firm has a market capitalization of $328.17 billion, a price-to-earnings ratio of 44.23, a PEG ratio of 3.83 and a beta of 1.29. The company's 50-day moving average is $279.53 and its 200-day moving average is $282.42. SAP SE has a 52-week low of $217.51 and a 52-week high of $313.28.

SAP (NYSE:SAP - Get Free Report) last announced its 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 analyst estimates of $9.10 billion. SAP had a net margin of 18.26% and a return on equity of 14.84%. SAP's revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.10 earnings per share. Analysts expect that SAP SE will post 6.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SAP has been the subject of a number of recent analyst reports. Morgan Stanley restated an "overweight" rating on shares of SAP in a research report on Tuesday, August 5th. Erste Group Bank cut shares of SAP from a "buy" rating to a "hold" rating in a research note on Thursday, August 14th. Jefferies Financial Group reissued a "buy" rating on shares of SAP in a research note on Tuesday. Piper Sandler started coverage on SAP in a research note on Tuesday, June 17th. They set an "overweight" rating for the company. Finally, UBS Group upgraded SAP to a "strong-buy" rating in a research report on Friday, May 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $281.67.

SAP 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.