The Manufacturers Life Insurance Company Has $42.14 Million Stock Position in SAP SE $SAP

Key Points

• The Manufacturers Life Insurance Company reduced its stake in SAP SE by 30.3% during the first quarter, now holding shares worth $42.14 million.
• SAP reported earnings of $1.70 per share for the last quarter, exceeding expectations by $0.07, with a notable revenue increase of 8.9% year-over-year.
• The stock has received multiple upgrades from analysts, with a current consensus rating of "Buy" and an average price target of $281.67.

The Manufacturers Life Insurance Company decreased its stake in SAP SE (NYSE:SAP - Free Report) by 30.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 156,984 shares of the software maker's stock after selling 68,097 shares during the quarter. The Manufacturers Life Insurance Company's holdings in SAP were worth $42,141,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Principal Street Partners LLC boosted its position in shares of SAP by 1.0% in the 4th quarter. Principal Street Partners LLC now owns 3,688 shares of the software maker's stock valued at $908,000 after purchasing an additional 35 shares during the period. Independent Advisor Alliance raised its stake in SAP by 0.4% during the 1st quarter. Independent Advisor Alliance now owns 9,957 shares of the software maker's stock valued at $2,673,000 after purchasing an additional 35 shares during the period. Cordatus Wealth Management LLC raised its stake in SAP by 1.1% during the 1st quarter. Cordatus Wealth Management LLC now owns 3,310 shares of the software maker's stock valued at $889,000 after purchasing an additional 37 shares during the period. LCM Capital Management Inc raised its stake in SAP by 1.9% during the 1st quarter. LCM Capital Management Inc now owns 2,074 shares of the software maker's stock valued at $557,000 after purchasing an additional 39 shares during the period. Finally, Bingham Private Wealth LLC raised its stake in SAP by 4.1% during the 1st quarter. Bingham Private Wealth LLC now owns 1,017 shares of the software maker's stock valued at $273,000 after purchasing an additional 40 shares during the period.

SAP Stock Performance

NYSE SAP traded down $2.98 during midday trading on Friday, hitting $269.01. The company had a trading volume of 1,700,353 shares, compared to its average volume of 1,463,723. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.15. The stock has a market cap of $330.48 billion, a price-to-earnings ratio of 44.54, a P/E/G ratio of 3.91 and a beta of 1.29. The firm has a fifty day simple moving average of $287.95 and a two-hundred day simple moving average of $283.86. SAP SE has a fifty-two week low of $210.38 and a fifty-two week high of $313.28.

SAP (NYSE:SAP - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The software maker reported $1.70 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.07. The business had revenue of $10.58 billion during the quarter, compared to analyst estimates of $9.10 billion. SAP had a return on equity of 14.84% and a net margin of 18.26%.SAP's revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.10 earnings per share. Equities analysts forecast that SAP SE will post 6.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on SAP shares. Wall Street Zen cut shares of SAP from a "buy" rating to a "hold" rating in a report on Sunday, August 31st. Wells Fargo & Company started coverage on SAP in a research report on Tuesday, May 20th. They issued an "overweight" rating on the stock. UBS Group raised SAP to a "strong-buy" rating in a research report on Friday, May 30th. Barclays reaffirmed an "overweight" rating and issued a $322.00 target price (up from $308.00) on shares of SAP in a research report on Friday, July 25th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of SAP in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, SAP has an average rating of "Buy" and an average price target 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.