Verdence Capital Advisors LLC Reduces Stock Position in SAP SE $SAP

Key Points

• Verdence Capital Advisors LLC has reduced its stake in SAP SE by 24%, now holding 4,844 shares valued at approximately $1.47 million.
• Several institutional investors have increased their positions in SAP, with Brighton Jones LLC notably increasing its holdings by 91.1% during the last quarter.
• SAP recently reported earnings of $1.70 per share, exceeding estimates, and generated revenues of $10.58 billion, reflecting an 8.9% year-over-year increase.

Verdence Capital Advisors LLC reduced its position in shares of SAP SE (NYSE:SAP - Free Report) by 24.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,844 shares of the software maker's stock after selling 1,528 shares during the period. Verdence Capital Advisors LLC's holdings in SAP were worth $1,473,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in SAP by 91.1% in the fourth quarter. Brighton Jones LLC now owns 2,633 shares of the software maker's stock worth $648,000 after buying an additional 1,255 shares during the period. GAMMA Investing LLC lifted its holdings in SAP by 16.7% in the first quarter. GAMMA Investing LLC now owns 4,866 shares of the software maker's stock worth $1,306,000 after buying an additional 698 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in SAP by 2.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,139 shares of the software maker's stock worth $7,554,000 after buying an additional 576 shares during the period. Dynamic Advisor Solutions LLC purchased a new stake in SAP in the first quarter worth about $603,000. Finally, Warther Private Wealth LLC lifted its holdings in SAP by 2.8% in the first quarter. Warther Private Wealth LLC now owns 1,711 shares of the software maker's stock worth $459,000 after buying an additional 47 shares during the period.

Analyst Ratings Changes

SAP has been the subject of several research analyst reports. Jefferies Financial Group restated a "buy" rating on shares of SAP in a report on Tuesday, September 16th. Wall Street Zen lowered shares of SAP from a "buy" rating to a "hold" rating in a report on Friday, October 3rd. Piper Sandler assumed coverage on shares of SAP in a report on Tuesday, June 17th. They set an "overweight" rating for the company. Weiss Ratings reiterated a "buy (b)" rating on shares of SAP in a report on Wednesday, October 8th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of SAP in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $281.67.

SAP Price Performance

Shares of SAP opened at $269.70 on Tuesday. The company has a market capitalization of $331.32 billion, a P/E ratio of 44.65, a price-to-earnings-growth ratio of 3.94 and a beta of 1.28. 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 has a 50 day moving average of $271.34 and a 200 day moving average of $282.51. SAP SE has a twelve month low of $227.52 and a twelve month high of $313.28.

SAP (NYSE:SAP - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.07. The company 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 firm's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.10 earnings per share. As a group, equities research analysts anticipate that SAP SE will post 6.55 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.