Truist Financial Corp Cuts Stock Holdings in SAP SE $SAP

Key Points

• Truist Financial Corp has cut its stake in SAP SE by 11.4%, selling 6,662 shares and bringing its total holdings to 51,898 shares, valued at approximately $15.8 million.
• Several institutional investors, including Brighton Jones LLC and NBC Securities Inc., have recently increased their positions in SAP, showcasing strong institutional interest in the company.
• SAP reported earnings of $1.70 per share for the last quarter, exceeding analysts' expectations, with revenue of $10.58 billion, indicating a year-over-year growth of 8.9%.

Truist Financial Corp trimmed its position in shares of SAP SE (NYSE:SAP - Free Report) by 11.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,898 shares of the software maker's stock after selling 6,662 shares during the quarter. Truist Financial Corp's holdings in SAP were worth $15,782,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SAP. Brighton Jones LLC increased its holdings in shares of SAP by 91.1% during the 4th quarter. Brighton Jones LLC now owns 2,633 shares of the software maker's stock valued at $648,000 after purchasing an additional 1,255 shares in the last quarter. Rhumbline Advisers grew its stake in SAP by 5.3% in the 1st quarter. Rhumbline Advisers now owns 24,087 shares of the software maker's stock valued at $6,466,000 after acquiring an additional 1,216 shares during the period. NBC Securities Inc. grew its stake in SAP by 60,800.0% in the 1st quarter. NBC Securities Inc. now owns 1,218 shares of the software maker's stock valued at $326,000 after acquiring an additional 1,216 shares during the period. Merit Financial Group LLC grew its stake in SAP by 71.0% in the 1st quarter. Merit Financial Group LLC now owns 4,544 shares of the software maker's stock valued at $1,220,000 after acquiring an additional 1,886 shares during the period. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in SAP in the 1st quarter valued at $790,000.

SAP Trading Down 0.5%

Shares of SAP opened at $270.48 on Friday. SAP SE has a 52-week low of $217.51 and a 52-week high of $313.28. 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 firm's fifty day moving average is $272.89 and its two-hundred day moving average is $282.40. The stock has a market cap of $332.29 billion, a PE ratio of 44.78, a price-to-earnings-growth ratio of 3.89 and a beta of 1.28.

SAP (NYSE:SAP - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The software maker reported $1.70 earnings per share (EPS) for the quarter, topping 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 company had revenue of $10.58 billion for the quarter, compared to analysts' expectations of $9.10 billion. During the same quarter in the previous year, the company posted $1.10 EPS. The firm's quarterly revenue was up 8.9% on a year-over-year basis. Research analysts forecast that SAP SE will post 6.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Oddo Bhf raised shares of SAP from a "neutral" rating to an "outperform" rating in a research note on Wednesday, September 24th. Jefferies Financial Group reissued a "buy" rating on shares of SAP in a research note on Tuesday, September 16th. Weiss Ratings reissued a "buy (b)" rating on shares of SAP in a research note on Saturday, September 27th. Morgan Stanley reissued an "overweight" rating on shares of SAP in a research note on Tuesday, August 5th. Finally, Wall Street Zen cut shares of SAP from a "buy" rating to a "hold" rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average 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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