TD Asset Management Inc Sells 166,066 Shares of SAP SE $SAP

Key Points

• TD Asset Management Inc has reduced its stake in SAP SE by 10%, selling 166,066 shares, and now owns approximately 0.12% of the company valued at $455.16 million.
• SAP reported better-than-expected quarterly earnings of $1.70 per share, surpassing the consensus estimate of $1.63, with revenues hitting $10.58 billion, up 8.9% year-over-year.
• Analysts have a consensus rating of "Buy" for SAP, with an average target price of $281.67, indicating strong investor interest and confidence in the company's growth potential.

TD Asset Management Inc trimmed its stake in shares of SAP SE (NYSE:SAP - Free Report) by 10.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,496,743 shares of the software maker's stock after selling 166,066 shares during the quarter. TD Asset Management Inc owned approximately 0.12% of SAP worth $455,160,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC increased its position in SAP by 585.7% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 96 shares of the software maker's stock worth $26,000 after purchasing an additional 82 shares in the last quarter. Creative Financial Designs Inc. ADV increased 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 worth $29,000 after purchasing an additional 66 shares in the last quarter. Vermillion Wealth Management Inc. acquired a new position in SAP during the 2nd quarter worth approximately $31,000. Highline Wealth Partners LLC increased its position in SAP by 126.2% during the 1st quarter. Highline Wealth Partners LLC now owns 138 shares of the software maker's stock worth $37,000 after purchasing an additional 77 shares in the last quarter. Finally, Dagco Inc. acquired a new position in SAP during the 1st quarter worth approximately $45,000.

SAP Stock Performance

NYSE SAP opened at $269.70 on Tuesday. SAP SE has a 52-week low of $227.52 and a 52-week high of $313.28. The company has a 50-day simple moving average of $271.34 and a 200 day simple moving average of $282.51. 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 company has a market capitalization of $331.32 billion, a PE ratio of 44.65, a price-to-earnings-growth ratio of 3.94 and a beta of 1.28.

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

Wall Street Analysts Forecast Growth

SAP has been the subject of several recent research reports. Piper Sandler initiated coverage on shares of SAP in a research report on Tuesday, June 17th. They issued an "overweight" rating for the company. Morgan Stanley restated an "overweight" rating on shares of SAP in a research report on Tuesday, August 5th. Oddo Bhf upgraded shares of SAP from a "neutral" rating to an "outperform" rating in a research report on Wednesday, September 24th. Erste Group Bank cut shares of SAP from a "buy" rating to a "hold" rating in a research report on Thursday, August 14th. Finally, JMP Securities increased their target price on shares of SAP from $330.00 to $375.00 and gave the stock a "market outperform" rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $281.67.

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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