SAP SE $SAP Shares Sold by Simplicity Wealth LLC

Key Points

• Simplicity Wealth LLC reduced its stake in SAP SE by 51.1%, selling 1,164 shares, and its remaining holdings are valued at approximately $339,000.
• Analysts show mixed ratings for SAP, with Morgan Stanley maintaining an "overweight" rating, while Wall Street Zen downgraded it from a "buy" to a "hold," reflecting differing views on the company's outlook.
• SAP reported a quarterly EPS of $1.70, exceeding estimates, and its revenue reached $10.58 billion, indicating an 8.9% year-over-year growth.

Simplicity Wealth LLC cut its holdings in shares of SAP SE (NYSE:SAP - Free Report) by 51.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,114 shares of the software maker's stock after selling 1,164 shares during the period. Simplicity Wealth LLC's holdings in SAP were worth $339,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Central Pacific Bank Trust Division acquired a new position in shares of SAP during the second quarter worth approximately $920,000. Modern Wealth Management LLC boosted its position in shares of SAP by 292.2% during the first quarter. Modern Wealth Management LLC now owns 4,663 shares of the software maker's stock worth $1,252,000 after buying an additional 3,474 shares during the period. Ascent Group LLC boosted its position in shares of SAP by 196.3% during the first quarter. Ascent Group LLC now owns 4,175 shares of the software maker's stock worth $1,121,000 after buying an additional 2,766 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of SAP by 6.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,318,908 shares of the software maker's stock worth $354,048,000 after buying an additional 80,164 shares during the period. Finally, Bain Capital Public Equity Management II LLC acquired a new position in shares of SAP during the first quarter worth approximately $13,869,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SAP shares. Morgan Stanley reiterated an "overweight" rating on shares of SAP in a research report on Tuesday, August 5th. Weiss Ratings restated a "buy (b)" rating on shares of SAP in a research report on Wednesday. Oddo Bhf upgraded SAP from a "neutral" rating to an "outperform" rating in a research report on Wednesday, September 24th. Wall Street Zen downgraded SAP from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. Finally, Piper Sandler assumed coverage on SAP in a research report on Tuesday, June 17th. They issued an "overweight" rating for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, SAP presently has an average rating of "Buy" and a consensus target price of $281.67.

SAP Price Performance

Shares of NYSE:SAP opened at $277.26 on Thursday. SAP SE has a one year low of $223.70 and a one year high of $313.28. The stock has a fifty day moving average of $272.19 and a 200-day moving average of $282.39. The company has a market capitalization of $340.61 billion, a PE ratio of 45.90, a price-to-earnings-growth ratio of 3.94 and a beta of 1.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 1.03.

SAP (NYSE:SAP - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.70 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.07. SAP had a return on equity of 14.84% and a net margin of 18.26%.The company had revenue of $10.58 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the prior year, the firm earned $1.10 EPS. The company's quarterly revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts anticipate that SAP SE will post 6.55 EPS for the current fiscal year.

SAP Company 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.

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