Scotia Capital Inc. Sells 3,531 Shares of SAP SE (NYSE:SAP)

Scotia Capital Inc. cut its position in shares of SAP SE (NYSE:SAP - Free Report) by 4.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,968 shares of the software maker's stock after selling 3,531 shares during the quarter. Scotia Capital Inc.'s holdings in SAP were worth $18,514,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC boosted its holdings in shares of SAP by 585.7% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 96 shares of the software maker's stock valued at $26,000 after buying an additional 82 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its position in SAP by 153.5% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 109 shares of the software maker's stock valued at $29,000 after acquiring an additional 66 shares during the period. Founders Capital Management boosted its stake in SAP by 133.9% during the first quarter. Founders Capital Management now owns 131 shares of the software maker's stock worth $35,000 after acquiring an additional 75 shares in the last quarter. Highline Wealth Partners LLC grew its holdings in SAP by 126.2% in the first quarter. Highline Wealth Partners LLC now owns 138 shares of the software maker's stock worth $37,000 after purchasing an additional 77 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in SAP in the first quarter worth about $53,000.

Analyst Ratings Changes

SAP has been the subject of several recent research reports. Argus reiterated a "buy" rating and set a $320.00 target price on shares of SAP in a report on Tuesday, April 29th. Jefferies Financial Group reiterated a "buy" rating on shares of SAP in a research note on Friday, May 2nd. Wall Street Zen downgraded SAP from a "buy" rating to a "hold" rating in a report on Saturday. Barclays restated an "overweight" rating and set a $322.00 price target (up from $308.00) on shares of SAP in a report on Friday, July 25th. Finally, Piper Sandler began coverage on shares of SAP in a research note on Tuesday, June 17th. They issued an "overweight" rating on the stock. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, SAP has a consensus rating of "Buy" and an average price target of $281.67.

SAP Price Performance

Shares of NYSE:SAP opened at $282.95 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $347.60 billion, a price-to-earnings ratio of 46.85, a price-to-earnings-growth ratio of 4.07 and a beta of 1.27. The business has a 50-day simple moving average of $298.92 and a two-hundred day simple moving average of $284.35. SAP SE has a fifty-two week low of $194.93 and a fifty-two week high of $313.28.

SAP (NYSE:SAP - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.07. SAP had a net margin of 18.26% and a return on equity of 14.84%. The firm had revenue of $10.58 billion during the quarter, compared to analysts' expectations of $9.10 billion. During the same period in the previous year, the company earned $1.10 earnings per share. The firm's quarterly revenue was up 8.9% on a year-over-year basis. On average, analysts expect that SAP SE will post 6.55 earnings per share 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.

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