Townsquare Capital LLC Trims Holdings in SAP SE (NYSE:SAP)

Key Points

• Townsquare Capital LLC decreased its holdings in SAP SE by 18.0%, selling 11,456 shares and ending the quarter with a total of 52,067 shares valued at approximately $13.98 million.
• Multiple analysts are optimistic about SAP, with Morgan Stanley, Wells Fargo, and Jefferies all reiterating buy or overweight ratings and target price increases for the stock.
• SAP reported stronger-than-expected earnings of $1.70 per share for the last quarter, surpassing analyst estimates and achieving a revenue of $10.58 billion, up 8.9% year-over-year.

Townsquare Capital LLC reduced its holdings in SAP SE (NYSE:SAP - Free Report) by 18.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,067 shares of the software maker's stock after selling 11,456 shares during the period. Townsquare Capital LLC's holdings in SAP were worth $13,977,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC increased its position in SAP by 585.7% during the first 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 during the last quarter. Creative Financial Designs Inc. ADV increased its position in shares of 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 during the last quarter. Founders Capital Management raised its holdings in SAP by 133.9% in the 1st quarter. Founders Capital Management now owns 131 shares of the software maker's stock valued at $35,000 after buying an additional 75 shares during the period. Highline Wealth Partners LLC lifted its position in SAP by 126.2% in the first quarter. Highline Wealth Partners LLC now owns 138 shares of the software maker's stock valued at $37,000 after buying an additional 77 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in SAP during the first quarter worth about $53,000.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SAP. BMO Capital Markets boosted their price target on shares of SAP from $320.00 to $330.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. Barclays reissued an "overweight" rating and issued a $322.00 target price (up previously from $308.00) on shares of SAP in a research report on Friday, July 25th. Jefferies Financial Group reaffirmed a "buy" rating on shares of SAP in a research note on Friday, May 2nd. Wells Fargo & Company began coverage on SAP in a report on Tuesday, May 20th. They issued an "overweight" rating on the stock. Finally, Morgan Stanley reissued an "overweight" rating on shares of SAP in a research note on Tuesday, August 5th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, SAP has a consensus rating of "Buy" and a consensus price target of $281.67.

SAP Stock Down 1.6%

Shares of SAP stock traded down $4.81 during trading on Monday, reaching $287.31. The company's stock had a trading volume of 1,314,255 shares, compared to its average volume of 1,507,108. SAP SE has a 1-year low of $205.51 and a 1-year high of $313.28. The stock's 50-day moving average price is $298.00 and its 200 day moving average price is $285.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $352.96 billion, a price-to-earnings ratio of 47.57, a P/E/G ratio of 4.20 and a beta of 1.27.

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