SAP SE $SAP Stock: TD Waterhouse Canada Inc. Decreases Holdings

Key Points

• TD Waterhouse Canada reduced its SAP stake by 21.9% in the third quarter, selling 5,466 shares and retaining 19,451 shares valued at approximately $4.1 million.
• Institutional sentiment was mixed, with several funds—including Bank of America, Tidal Investments, and Principal Financial—boosting their SAP positions. Analysts maintained a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $264.71.
• SAP shares opened at $228.85, while the company’s latest quarterly results showed revenue rising 9.4% year over year to $11.27 billion, though earnings per share of $1.82 missed the $2.00 consensus estimate.

TD Waterhouse Canada Inc. cut its stake in shares of SAP SE (NYSE:SAP - Free Report) by 21.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,451 shares of the software maker's stock after selling 5,466 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in SAP were worth $4,099,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Arrowstreet Capital Limited Partnership bought a new stake in shares of SAP in the 1st quarter worth approximately $150,701,000. Ruane Cunniff & Goldfarb L.P. boosted its position in SAP by 1,532.8% during 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 purchasing an additional 703,982 shares during the period. Bank of America Corp DE boosted its position in SAP by 15.9% during the 1st quarter. Bank of America Corp DE now owns 2,018,383 shares of the software maker's stock valued at $345,567,000 after purchasing an additional 276,263 shares during the period. Tidal Investments LLC boosted its position in SAP by 18.5% during the 2nd quarter. Tidal Investments LLC now owns 1,214,315 shares of the software maker's stock valued at $187,138,000 after purchasing an additional 189,591 shares during the period. Finally, Principal Financial Group Inc. grew its stake in SAP by 48.2% during the 1st quarter. Principal Financial Group Inc. now owns 550,531 shares of the software maker's stock worth $94,257,000 after buying an additional 179,040 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SAP. Jefferies Financial Group reaffirmed a "buy" rating and issued a $260.00 target price on shares of SAP in a research report on Tuesday, September 22nd. UBS Group cut SAP from a "buy" rating to a "neutral" rating in a research note on Wednesday, August 26th. Argus set a $265.00 price target on shares of SAP in a report on Thursday, September 10th. Barclays upped their price target on shares of SAP from $242.00 to $243.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 13th. Finally, BMO Capital Markets upped their price target on shares of SAP from $177.00 to $235.00 and gave the stock an "outperform" rating in a research report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $264.71.

SAP Price Performance

Shares of NYSE:SAP opened at $228.85 on Wednesday. The firm's 50 day moving average is $213.82 and its two-hundred day moving average is $185.98. The firm has a market capitalization of $281.14 billion, a P/E ratio of 28.75, a PEG ratio of 2.68 and a beta of 1.13. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.19. SAP SE has a 52 week low of $144.97 and a 52 week high of $281.36.

SAP (NYSE:SAP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The software maker reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($0.18). SAP had a return on equity of 17.07% and a net margin of 20.88%. The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.30 billion. During the same quarter in the prior year, the firm posted $1.50 earnings per share. The business's quarterly revenue was up 9.4% on a year-over-year basis. Analysts anticipate that SAP SE will post 8.08 earnings per share for the current year.

About SAP

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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