Verdence Capital Advisors LLC Sells 7,343 Shares of SAP SE (NYSE:SAP)

Verdence Capital Advisors LLC trimmed its stake in SAP SE (NYSE:SAP - Free Report) by 53.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,372 shares of the software maker's stock after selling 7,343 shares during the period. Verdence Capital Advisors LLC's holdings in SAP were worth $1,710,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in SAP by 31,239.5% in the first quarter. GAMMA Investing LLC now owns 1,306,229 shares of the software maker's stock worth $350,644,000 after purchasing an additional 1,302,061 shares during the period. TD Asset Management Inc. raised its stake in shares of SAP by 125.0% in the 4th quarter. TD Asset Management Inc. now owns 1,602,548 shares of the software maker's stock valued at $394,563,000 after buying an additional 890,157 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of SAP by 145.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,346,506 shares of the software maker's stock worth $331,523,000 after acquiring an additional 798,037 shares during the period. Northern Trust Corp boosted its position in shares of SAP by 91.2% during the 4th quarter. Northern Trust Corp now owns 1,471,798 shares of the software maker's stock valued at $362,371,000 after acquiring an additional 701,880 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in SAP in the fourth quarter valued at about $163,630,000.

SAP Price Performance

SAP stock traded down $2.44 during midday trading on Friday, reaching $306.17. 1,021,167 shares of the company's stock traded hands, compared to its average volume of 1,100,926. The company has a 50-day simple moving average of $299.56 and a two-hundred day simple moving average of $280.73. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.15. SAP SE has a 1-year low of $194.93 and a 1-year high of $313.28. The company has a market cap of $376.13 billion, a price-to-earnings ratio of 58.65, a PEG ratio of 4.37 and a beta of 1.30.

SAP (NYSE:SAP - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The software maker reported $1.51 EPS for the quarter, topping the consensus estimate of $1.39 by $0.12. SAP had a return on equity of 13.66% and a net margin of 16.33%. The company had revenue of $10.35 billion for the quarter, compared to analysts' expectations of $9.08 billion. On average, analysts anticipate that SAP SE will post 6.55 earnings per share for the current year.

Wall Street Analyst Weigh In

SAP has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of SAP from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. JMP Securities reissued a "market outperform" rating and issued a $330.00 target price on shares of SAP in a report on Friday, May 23rd. Wells Fargo & Company assumed coverage on SAP in a research note on Tuesday, May 20th. They issued an "overweight" rating on the stock. Piper Sandler began coverage on SAP in a research report on Tuesday, June 17th. They issued an "overweight" rating on the stock. Finally, UBS Group upgraded SAP to a "strong-buy" rating in a research note on Friday, May 30th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $271.83.

SAP Company 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.