SAP SE $SAP Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments cut its SAP stake by 38% in the first quarter, selling 34,498 shares and leaving it with 56,207 shares worth about $9.63 million.
• SAP’s stock was trading near its 52-week low at $148.66, well below its 50-day and 200-day moving averages, even as the company maintained a large market cap of $182.63 billion.
• Analysts remain generally positive on SAP, with a consensus rating of Moderate Buy and an average price target of $270.83, despite some recent downgrades and target cuts.

Allspring Global Investments Holdings LLC lessened its position in SAP SE (NYSE:SAP - Free Report) by 38.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,207 shares of the software maker's stock after selling 34,498 shares during the period. Allspring Global Investments Holdings LLC's holdings in SAP were worth $9,632,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Binnacle Investments Inc lifted its stake in shares of SAP by 14.2% during the 3rd quarter. Binnacle Investments Inc now owns 338 shares of the software maker's stock worth $90,000 after purchasing an additional 42 shares during the period. Spire Wealth Management grew its position in shares of SAP by 6.2% in the fourth quarter. Spire Wealth Management now owns 740 shares of the software maker's stock valued at $180,000 after purchasing an additional 43 shares during the period. Thrivent Financial for Lutherans grew its position in shares of SAP by 1.0% in the second quarter. Thrivent Financial for Lutherans now owns 4,495 shares of the software maker's stock valued at $1,355,000 after purchasing an additional 43 shares during the period. Euro Pacific Asset Management LLC increased its stake in SAP by 5.7% in the fourth quarter. Euro Pacific Asset Management LLC now owns 870 shares of the software maker's stock valued at $213,000 after purchasing an additional 47 shares during the last quarter. Finally, Modera Wealth Management LLC lifted its position in SAP by 1.2% during the fourth quarter. Modera Wealth Management LLC now owns 3,912 shares of the software maker's stock worth $950,000 after buying an additional 48 shares during the period.

SAP Stock Performance

Shares of SAP stock opened at $148.66 on Thursday. The company's fifty day simple moving average is $166.14 and its 200-day simple moving average is $185.25. SAP SE has a 52 week low of $147.45 and a 52 week high of $299.48. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.11. The company has a market cap of $182.63 billion, a PE ratio of 20.09, a P/E/G ratio of 1.77 and a beta of 1.14.

SAP (NYSE:SAP - Get Free Report) last posted its earnings results on Friday, February 27th. The software maker reported $1.99 earnings per share for the quarter. SAP had a net margin of 20.08% and a return on equity of 17.31%. The business had revenue of $11.06 billion for the quarter. As a group, equities research analysts anticipate that SAP SE will post 8.28 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SAP. Wall Street Zen lowered SAP from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Barclays dropped their price objective on shares of SAP from $257.00 to $255.00 and set an "overweight" rating for the company in a research note on Tuesday. Piper Sandler cut shares of SAP from an "overweight" rating to a "neutral" rating in a research report on Tuesday, April 14th. The Goldman Sachs Group restated a "buy" rating and issued a $265.00 target price on shares of SAP in a report on Wednesday, June 10th. Finally, Santander raised shares of SAP from a "neutral" rating to an "outperform" rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $270.83.

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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