Verdence Capital Advisors LLC Trims Holdings in SAP SE $SAP

Verdence Capital Advisors LLC reduced its stake in SAP SE (NYSE:SAP) by 81.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 911 shares of the software maker’s stock after selling 3,933 shares during the quarter. Verdence Capital Advisors LLC’s holdings in SAP were worth $248,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SAP. NorthCrest Asset Manangement LLC lifted its stake in SAP by 1.9% during the third quarter. NorthCrest Asset Manangement LLC now owns 81,282 shares of the software maker’s stock worth $22,257,000 after purchasing an additional 1,515 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of SAP by 4.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 28,269 shares of the software maker’s stock valued at $7,741,000 after buying an additional 1,296 shares during the period. JCIC Asset Management Inc. acquired a new position in SAP during the 3rd quarter worth about $4,239,000. Florida Trust Wealth Management Co lifted its stake in SAP by 9.6% during the 3rd quarter. Florida Trust Wealth Management Co now owns 19,612 shares of the software maker’s stock worth $5,241,000 after acquiring an additional 1,712 shares in the last quarter. Finally, J.Safra Asset Management Corp boosted its holdings in SAP by 52.4% during the 3rd quarter. J.Safra Asset Management Corp now owns 1,716 shares of the software maker’s stock valued at $459,000 after acquiring an additional 590 shares during the period.

SAP Trading Up 2.0%

Shares of NYSE:SAP opened at $230.92 on Friday. SAP SE has a 52 week low of $220.89 and a 52 week high of $313.28. The company’s 50 day moving average is $240.90 and its two-hundred day moving average is $263.14. The company has a market cap of $278.07 billion, a PE ratio of 34.57, a P/E/G ratio of 2.75 and a beta of 1.18. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.14.

SAP (NYSE:SAP) last released its quarterly earnings data on Wednesday, October 22nd. The software maker reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.17. The business had revenue of $10.65 billion during the quarter, compared to analysts’ expectations of $9.10 billion. SAP had a net margin of 19.50% and a return on equity of 15.69%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 EPS. Equities analysts predict that SAP SE will post 6.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. JMP Securities reiterated a “market outperform” rating and set a $375.00 price target on shares of SAP in a research note on Thursday, October 23rd. Arete Research raised shares of SAP to a “strong-buy” rating in a research note on Thursday, December 11th. Jefferies Financial Group reiterated a “buy” rating on shares of SAP in a report on Monday, October 27th. TD Cowen restated a “buy” rating on shares of SAP in a research note on Thursday, October 23rd. Finally, Argus reiterated a “buy” rating and issued a $320.00 price objective on shares of SAP in a research note on Friday, October 24th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, SAP presently has a consensus rating of “Buy” and a consensus target price of $280.20.

SAP Company Profile

SAP SE is a global enterprise software company headquartered in Walldorf, Germany. Founded in 1972 by five former IBM engineers, the company’s name is an acronym for Systeme, Anwendungen und Produkte in der Datenverarbeitung (Systems, Applications & Products in Data Processing). SAP develops and sells software and services that help organizations manage business processes across finance, human resources, procurement, manufacturing, supply chain and customer relationships.

SAP’s product portfolio spans on‑premises and cloud offerings, anchored by its enterprise resource planning (ERP) solutions such as SAP S/4HANA and the SAP HANA in‑memory database and platform.