Pinnacle Associates Ltd. lowered its stake in SAP SE (NYSE:SAP) by 8.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,631 shares of the software maker’s stock after selling 578 shares during the quarter. Pinnacle Associates Ltd.’s holdings in SAP were worth $907,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Ellis Investment Partners LLC acquired a new stake in SAP during the 1st quarter worth about $25,000. Financial Gravity Wealth Inc. acquired a new stake in SAP during the 1st quarter worth about $26,000. Next Capital Management LLC acquired a new stake in SAP during the 2nd quarter worth about $26,000. Camarda Financial Advisors LLC acquired a new stake in SAP during the 1st quarter worth about $28,000. Finally, Motco acquired a new stake in SAP during the 1st quarter worth about $31,000. 4.96% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on the company. JMP Securities boosted their price objective on SAP from $131.00 to $150.00 and gave the stock a “market outperform” rating in a report on Thursday, April 25th. BMO Capital Markets set a $140.00 price objective on SAP and gave the stock a “hold” rating in a report on Friday, July 19th. Argus restated a “buy” rating on shares of SAP in a report on Wednesday, May 1st. Stifel Nicolaus restated a “hold” rating and set a $118.00 price objective on shares of SAP in a report on Thursday, April 25th. Finally, Royal Bank of Canada upgraded SAP from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $133.00 to $167.00 in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. SAP has a consensus rating of “Hold” and a consensus price target of $125.63.
SAP (NYSE:SAP) last issued its earnings results on Thursday, July 18th. The software maker reported $1.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.09. The company had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $6.71 billion. SAP had a return on equity of 15.39% and a net margin of 11.95%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 EPS. Equities research analysts expect that SAP SE will post 4.28 earnings per share for the current fiscal year.
SAP Company Profile
SAP SE operates as an enterprise application software, and analytics and business intelligence company worldwide. The company operates through three segments: Applications, Technology & Services; SAP Business Network; and Customer Experience. It offers SAP HANA, which enables businesses to process and analyze live data; SAP Data Hub, a solution for businesses to manage data from various sources; and SAP Cloud platform that offers an enterprise platform-as-a-service.
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