SAP SE $SAP Stock Sold by Cidel Asset Management Inc.

Key Points

• Cidel Asset Management cut its SAP position by 90.5% in the third quarter, selling 101,298 shares and retaining 10,654 shares worth approximately $2.22 million.
• SAP shares opened at $235.02, with a market capitalization of about $288.7 billion and a one-year trading range of $144.97 to $265.88.
• Analysts maintain a consensus “Moderate Buy” rating, supported by one Strong Buy, 12 Buy and seven Hold ratings, with an average price target of $258.83.

Cidel Asset Management Inc. lowered its position in shares of SAP SE (NYSE:SAP - Free Report) by 90.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,654 shares of the software maker's stock after selling 101,298 shares during the quarter. Cidel Asset Management Inc.'s holdings in SAP were worth $2,221,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of SAP during the 3rd quarter valued at about $30,000. Continuum Advisory LLC acquired a new position in shares of SAP in the 2nd quarter worth approximately $31,000. Front Row Advisors LLC raised its holdings in shares of SAP by 362.5% in the 1st quarter. Front Row Advisors LLC now owns 185 shares of the software maker's stock worth $32,000 after purchasing an additional 145 shares in the last quarter. Markowski Investments bought a new stake in shares of SAP in the 2nd quarter worth approximately $41,000. Finally, West Financial Advisors LLC acquired a new stake in SAP during the third quarter valued at approximately $41,000.

SAP Stock Performance

Shares of SAP opened at $235.02 on Friday. The company has a 50-day moving average of $217.92 and a two-hundred day moving average of $192.44. The stock has a market cap of $288.72 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 2.83 and a beta of 1.13. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.16 and a quick ratio of 1.15. SAP SE has a one year low of $144.97 and a one year high of $265.88.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wells Fargo & Company restated an "overweight" rating on shares of SAP in a report on Wednesday, August 12th. Oppenheimer reaffirmed a "market perform" rating on shares of SAP in a report on Friday, July 24th. Jefferies Financial Group reiterated a "buy" rating on shares of SAP in a research report on Thursday, October 22nd. UBS Group lowered SAP from a "buy" rating to a "neutral" rating in a research note on Wednesday, August 26th. Finally, Morgan Stanley reissued an "overweight" rating on shares of SAP in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, SAP currently has a consensus rating of "Moderate Buy" and an average price target of $258.83.

SAP Profile

SAP SE is a global enterprise software company headquartered in Walldorf, Germany. Founded in 1972 by five former IBM employees, SAP originally developed software to help businesses integrate accounting and operational data. The company has since become a major provider of cloud-based business applications and enterprise technology.

SAP's portfolio includes enterprise resource planning software, including SAP S/4HANA Cloud, along with solutions for finance, procurement, supply chain management, human resources, customer experience and business analytics.

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