Quantitative Investment Management LLC Sells 18,695 Shares of SAP SE $SAP

Key Points

• Quantitative Investment Management LLC cut its SAP position by 85.5% in the second quarter, selling 18,695 shares and retaining 3,176 shares valued at approximately $489,000.
• Analyst sentiment remains favorable, with SAP holding a consensus “Moderate Buy” rating and an average price target of $264.83, despite UBS Group downgrading the stock to “Neutral.”
• SAP shares opened at $212.22, while the company’s latest quarterly results missed EPS estimates ($1.82 versus $2.00) but delivered 9.4% year-over-year revenue growth to $11.27 billion.

Quantitative Investment Management LLC trimmed its position in shares of SAP SE (NYSE:SAP - Free Report) by 85.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,176 shares of the software maker's stock after selling 18,695 shares during the quarter. Quantitative Investment Management LLC's holdings in SAP were worth $489,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Fisher Asset Management LLC raised its stake in shares of SAP by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 14,728,881 shares of the software maker's stock worth $3,577,793,000 after acquiring an additional 179,550 shares in the last quarter. Bank of America Corp DE boosted its stake in SAP by 58.1% in the second quarter. Bank of America Corp DE now owns 2,650,418 shares of the software maker's stock valued at $805,992,000 after acquiring an additional 973,779 shares in the last quarter. Windacre Partnership LLC boosted its stake in SAP by 130.9% in the third quarter. Windacre Partnership LLC now owns 2,357,225 shares of the software maker's stock valued at $629,874,000 after acquiring an additional 1,336,325 shares in the last quarter. Northern Trust Corp grew its holdings in SAP by 3.2% in the third quarter. Northern Trust Corp now owns 1,560,994 shares of the software maker's stock worth $417,113,000 after purchasing an additional 49,111 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in SAP by 7.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,200,024 shares of the software maker's stock worth $291,498,000 after purchasing an additional 83,349 shares during the last quarter.

Analyst Ratings Changes

SAP has been the subject of several analyst reports. UBS Group lowered SAP from a "buy" rating to a "neutral" rating in a report on Wednesday, August 26th. Morgan Stanley reiterated an "overweight" rating on shares of SAP in a research note on Friday, August 21st. Wells Fargo & Company reissued an "overweight" rating on shares of SAP in a report on Wednesday, August 12th. TD Cowen restated a "buy" rating on shares of SAP in a research note on Friday, July 24th. Finally, Citigroup restated a "buy" rating on shares of SAP in a report on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $264.83.

SAP Price Performance

NYSE SAP opened at $212.22 on Wednesday. The company has a market cap of $260.71 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 2.59 and a beta of 1.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 1.15. The stock's fifty day moving average price is $182.59 and its 200 day moving average price is $180.26. SAP SE has a 1 year low of $144.97 and a 1 year high of $281.36.

SAP (NYSE:SAP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The software maker reported $1.82 EPS for the quarter, missing analysts' consensus estimates of $2.00 by ($0.18). The firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.30 billion. SAP had a return on equity of 17.07% and a net margin of 20.88%.The business's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.50 EPS. As a group, equities research analysts forecast that SAP SE will post 8.18 earnings per share for the current year.

About SAP

SAP SE is a global enterprise software company headquartered in Walldorf, Germany. Founded in 1972 by five former IBM engineers, the company's name is an acronym for Systeme, Anwendungen und Produkte in der Datenverarbeitung (Systems, Applications & Products in Data Processing). SAP develops and sells software and services that help organizations manage business processes across finance, human resources, procurement, manufacturing, supply chain and customer relationships.

SAP's product portfolio spans on‑premises and cloud offerings, anchored by its enterprise resource planning (ERP) solutions such as SAP S/4HANA and the SAP HANA in‑memory database and platform.

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