SAP SE $SAP Stock Sold by Sustainable Growth Advisers LP

Key Points

• Sustainable Growth Advisers LP cut its SAP stake by 45.4% during the third quarter, selling 159,675 shares and retaining 192,096 shares valued at approximately $40.05 million.
• Other institutional investors increased their positions, including Bank of America, Tidal Investments, Ruane Cunniff & Goldfarb, and Principal Financial Group, indicating mixed but generally supportive institutional interest.
• SAP shares opened at $224.99, while analysts maintain a “Moderate Buy” consensus with an average price target of $264.71. The company’s latest quarterly earnings missed estimates, although revenue rose 9.4% year over year.

Sustainable Growth Advisers LP lessened its position in shares of SAP SE (NYSE:SAP - Free Report) by 45.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 192,096 shares of the software maker's stock after selling 159,675 shares during the quarter. Sustainable Growth Advisers LP's holdings in SAP were worth $40,048,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in SAP by 15.9% in the first quarter. Bank of America Corp DE now owns 2,018,383 shares of the software maker's stock valued at $345,567,000 after buying an additional 276,263 shares during the last quarter. Tidal Investments LLC grew its position in shares of SAP by 18.5% during the second quarter. Tidal Investments LLC now owns 1,214,315 shares of the software maker's stock worth $187,138,000 after acquiring an additional 189,591 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of SAP during the first quarter worth approximately $150,701,000. Ruane Cunniff & Goldfarb L.P. increased its holdings in shares of SAP by 1,532.8% in the 1st quarter. Ruane Cunniff & Goldfarb L.P. now owns 749,909 shares of the software maker's stock valued at $128,392,000 after acquiring an additional 703,982 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of SAP by 48.2% in the 1st quarter. Principal Financial Group Inc. now owns 550,531 shares of the software maker's stock valued at $94,257,000 after acquiring an additional 179,040 shares during the period.

SAP Stock Up 2.0%

SAP stock opened at $224.99 on Friday. SAP SE has a twelve month low of $144.97 and a twelve month high of $281.36. The stock has a 50 day moving average of $212.73 and a two-hundred day moving average of $184.79. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $276.40 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 2.61 and a beta of 1.13.

SAP (NYSE:SAP - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The software maker reported $1.82 earnings per share for the quarter, missing the consensus estimate of $2.00 by ($0.18). The company had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $11.30 billion. SAP had a net margin of 20.88% and a return on equity of 17.07%. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.50 earnings per share. As a group, research analysts expect that SAP SE will post 8.09 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on SAP shares. Weiss Ratings upgraded shares of SAP from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 8th. Oppenheimer reiterated a "market perform" rating on shares of SAP in a research note on Friday, July 24th. UBS Group downgraded shares of SAP from a "buy" rating to a "neutral" rating in a research report on Wednesday, August 26th. Citigroup restated a "buy" rating on shares of SAP in a research note on Tuesday, September 22nd. Finally, Jefferies Financial Group restated a "buy" rating and issued a $260.00 price objective on shares of SAP in a research note on Tuesday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $264.71.

SAP Company Profile

SAP SE is a German enterprise software company headquartered in Walldorf, Germany. Founded in 1972 by five former IBM employees, SAP develops technology that helps organizations manage finance, procurement, supply chains, human resources, customer relationships and other core business operations.

The company's principal offerings include SAP S/4HANA Cloud enterprise resource planning software, the SAP Business Technology Platform, and cloud applications such as SAP SuccessFactors for human capital management, SAP Ariba for procurement, SAP Concur for travel and expense management, and SAP Customer Experience solutions.

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