SAP SE $SAP Shares Sold by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC reduced its stake in SAP SE by 20.3%, selling 2,117 shares in the first quarter, leaving it with 8,316 shares valued at approximately $2.23 million.
• Several other institutional investors have increased their holdings in SAP, with TD Asset Management raising its stake by 3.8% and GAMMA Investing LLC lifting its position dramatically by 31,239.5%.
• Wall Street analysts have a bullish outlook on SAP, with BMO Capital Markets and Barclays raising their target prices to $330.00 and $322.00 respectively, while the average rating for the stock is currently a Buy.

Kestra Advisory Services LLC trimmed its holdings in SAP SE (NYSE:SAP - Free Report) by 20.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,316 shares of the software maker's stock after selling 2,117 shares during the period. Kestra Advisory Services LLC's holdings in SAP were worth $2,232,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SAP. TD Asset Management Inc raised its holdings in SAP by 3.8% in the 1st quarter. TD Asset Management Inc now owns 1,662,809 shares of the software maker's stock valued at $446,364,000 after acquiring an additional 60,261 shares during the last quarter. Northern Trust Corp grew its position in shares of SAP by 2.8% in the first quarter. Northern Trust Corp now owns 1,512,724 shares of the software maker's stock valued at $406,076,000 after purchasing an additional 40,926 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of SAP by 5.7% in the fourth quarter. Bank of America Corp DE now owns 1,314,814 shares of the software maker's stock valued at $323,720,000 after purchasing an additional 70,613 shares during the last quarter. GAMMA Investing LLC lifted its position in SAP by 31,239.5% during the first quarter. GAMMA Investing LLC now owns 1,306,229 shares of the software maker's stock worth $350,644,000 after buying an additional 1,302,061 shares in the last quarter. Finally, WCM Investment Management LLC boosted its stake in SAP by 5.5% during the first quarter. WCM Investment Management LLC now owns 1,229,086 shares of the software maker's stock worth $329,395,000 after buying an additional 63,538 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. BMO Capital Markets raised their target price on SAP from $320.00 to $330.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Barclays restated an "overweight" rating and set a $322.00 price objective (up from $308.00) on shares of SAP in a research report on Friday, July 25th. Morgan Stanley reiterated an "overweight" rating on shares of SAP in a report on Tuesday, August 5th. Piper Sandler started coverage on shares of SAP in a report on Tuesday, June 17th. They set an "overweight" rating for the company. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of SAP in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, SAP currently has an average rating of "Buy" and an average target price of $281.67.

SAP Price Performance

Shares of SAP opened at $275.43 on Friday. The firm has a 50-day simple moving average of $290.84 and a two-hundred day simple moving average of $284.73. The stock has a market cap of $338.36 billion, a PE ratio of 45.60, a P/E/G ratio of 3.96 and a beta of 1.27. SAP SE has a 1-year low of $210.38 and a 1-year high of $313.28. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.03 and a quick ratio of 1.03.

SAP (NYSE:SAP - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.70 EPS for the quarter, topping the consensus estimate of $1.63 by $0.07. The firm had revenue of $10.58 billion for 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%. The business's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 EPS. As a group, analysts forecast that SAP SE will post 6.55 EPS for the current year.

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.

Want to see what other hedge funds are holding SAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SAP SE (NYSE:SAP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.