Wellington Management Group LLP Sells 53,647 Shares of SAP SE $SAP

Key Points

• Wellington Management Group LLP reduced its stake in SAP SE by 8.1%, now holding 610,948 shares worth approximately $164 million.
• Other large investors such as TD Asset Management Inc and Northern Trust Corp have recently increased their positions in SAP, with TD's stake now valued at $446 million.
• While analysts have mixed ratings on SAP, JMP Securities raised its target price from $330 to $375 and confirmed a "market outperform" rating.

Wellington Management Group LLP trimmed its holdings in SAP SE (NYSE:SAP - Free Report) by 8.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 610,948 shares of the software maker's stock after selling 53,647 shares during the quarter. Wellington Management Group LLP's holdings in SAP were worth $164,003,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of SAP. GAMMA Investing LLC lifted its holdings in shares of SAP by 31,239.5% during the first quarter. GAMMA Investing LLC now owns 1,306,229 shares of the software maker's stock valued at $350,644,000 after purchasing an additional 1,302,061 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of SAP by 91.2% during the fourth quarter. Northern Trust Corp now owns 1,471,798 shares of the software maker's stock valued at $362,371,000 after purchasing an additional 701,880 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of SAP by 6,165.7% during the fourth quarter. BNP Paribas Financial Markets now owns 357,460 shares of the software maker's stock valued at $88,010,000 after purchasing an additional 351,755 shares during the last quarter. Barclays PLC lifted its holdings in shares of SAP by 101.5% during the fourth quarter. Barclays PLC now owns 3,356 shares of the software maker's stock valued at $826,000 after purchasing an additional 230,171 shares during the last quarter. Finally, Main Street Research LLC purchased a new stake in shares of SAP during the first quarter valued at $32,151,000.

Analysts Set New Price Targets

SAP has been the subject of several research analyst reports. Wells Fargo & Company began coverage on SAP in a research note on Tuesday, May 20th. They issued an "overweight" rating for the company. Barclays reiterated an "overweight" rating and issued a $322.00 target price (up previously from $308.00) on shares of SAP in a report on Friday, July 25th. Argus reiterated a "buy" rating and issued a $320.00 target price on shares of SAP in a report on Tuesday, April 29th. Erste Group Bank downgraded SAP from a "buy" rating to a "hold" rating in a report on Thursday, August 14th. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of SAP in a report on Friday, May 2nd. One research 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 MarketBeat, SAP presently has a consensus rating of "Buy" and a consensus price target of $281.67.

SAP Stock Down 0.1%

Shares of SAP traded down $0.2510 during midday trading on Monday, reaching $270.8590. 1,053,976 shares of the stock were exchanged, compared to its average volume of 1,361,435. SAP SE has a 12-month low of $210.38 and a 12-month high of $313.28. The firm has a 50 day simple moving average of $292.38 and a 200-day simple moving average of $285.00. 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 company has a market cap of $332.75 billion, a price-to-earnings ratio of 44.82, a P/E/G ratio of 3.90 and a beta of 1.27.

SAP (NYSE:SAP - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.70 earnings per share for the quarter, topping analysts' consensus estimates 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 return on equity of 14.84% and a net margin of 18.26%.The business's quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the business earned $1.10 EPS. Research analysts forecast 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.