Wealth Enhancement Advisory Services LLC Lowers Stake in SAP SE $SAP

Key Points

• Wealth Enhancement Advisory Services LLC reduced its stake in SAP SE by 4.1% during the 2nd quarter, selling 1,166 shares and holding a total of 26,973 shares worth approximately $8.19 million.
• Several hedge funds increased their positions in SAP, with Brighton Jones LLC boosting its holdings by 91.1% and Toronto Dominion Bank raising its stake by 149.0% during the fourth quarter.
• SAP reported $1.70 earnings per share, exceeding analysts' expectations of $1.63, and achieved a revenue of $10.58 billion for the quarter, reflecting an 8.9% year-over-year increase.

Wealth Enhancement Advisory Services LLC lessened its stake in SAP SE (NYSE:SAP - Free Report) by 4.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,973 shares of the software maker's stock after selling 1,166 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in SAP were worth $8,192,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SAP. 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 valued at $648,000 after acquiring an additional 1,255 shares during the last quarter. Two Sigma Advisers LP increased its stake in SAP by 185.7% during the fourth quarter. Two Sigma Advisers LP now owns 6,000 shares of the software maker's stock worth $1,477,000 after purchasing an additional 3,900 shares during the period. Waverly Advisors LLC purchased a new position in shares of SAP in the fourth quarter valued at approximately $254,000. Toronto Dominion Bank increased its stake in SAP by 149.0% during the 4th quarter. Toronto Dominion Bank now owns 1,758 shares of the software maker's stock worth $432,000 after buying an additional 1,052 shares during the period. Finally, Ascent Group LLC boosted its position in SAP by 3.9% in the 4th quarter. Ascent Group LLC now owns 1,409 shares of the software maker's stock valued at $347,000 after buying an additional 53 shares during the period.

SAP Trading Up 0.0%

SAP opened at $265.38 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.15. SAP SE has a 52 week low of $217.51 and a 52 week high of $313.28. The business's 50 day moving average is $278.10 and its two-hundred day moving average is $282.25. The firm has a market cap of $326.02 billion, a price-to-earnings ratio of 43.94, a price-to-earnings-growth ratio of 3.80 and a beta of 1.29.

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 analysts' consensus estimates of $1.63 by $0.07. The business 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 company's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the firm posted $1.10 earnings per share. On average, research analysts predict that SAP SE will post 6.55 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SAP. Piper Sandler initiated coverage on shares of SAP in a report on Tuesday, June 17th. They issued an "overweight" rating on the stock. Wall Street Zen upgraded SAP from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Barclays reaffirmed an "overweight" rating and set a $322.00 price objective (up from $308.00) on shares of SAP in a research report on Friday, July 25th. Morgan Stanley reissued an "overweight" rating on shares of SAP in a research report on Tuesday, August 5th. Finally, JMP Securities upped their price target on SAP from $330.00 to $375.00 and gave the company a "market outperform" rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $281.67.

About SAP

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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