Thornburg Investment Management Inc. Trims Stock Position in SAP SE $SAP

Thornburg Investment Management Inc. cut its holdings in shares of SAP SE (NYSE:SAP) by 30.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,339 shares of the software maker’s stock after selling 7,421 shares during the period. Thornburg Investment Management Inc.’s holdings in SAP were worth $4,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its stake in shares of SAP by 9.0% during the 2nd quarter. Fisher Asset Management LLC now owns 14,157,321 shares of the software maker’s stock valued at $4,305,242,000 after buying an additional 1,163,616 shares during the last quarter. Bank of America Corp DE boosted its position in SAP by 58.1% in the 2nd quarter. Bank of America Corp DE now owns 2,650,418 shares of the software maker’s stock worth $805,992,000 after purchasing an additional 973,779 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of SAP by 2.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,116,675 shares of the software maker’s stock worth $298,387,000 after purchasing an additional 28,924 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of SAP by 9,269.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 421,173 shares of the software maker’s stock valued at $112,542,000 after purchasing an additional 416,678 shares in the last quarter. Finally, Sands Capital Management LLC boosted its holdings in SAP by 29.8% during the second quarter. Sands Capital Management LLC now owns 289,386 shares of the software maker’s stock worth $88,002,000 after buying an additional 66,354 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SAP. TD Cowen reaffirmed a “buy” rating on shares of SAP in a report on Friday, January 30th. HSBC upgraded SAP to a “hold” rating in a research note on Tuesday, January 20th. BMO Capital Markets reaffirmed an “outperform” rating on shares of SAP in a report on Friday, January 30th. Citizens Jmp lowered SAP from an “outperform” rating to a “market perform” rating in a report on Friday, January 30th. Finally, Santander raised SAP to a “neutral” rating in a research note on Tuesday, February 3rd. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, SAP currently has a consensus rating of “Moderate Buy” and a consensus target price of $305.75.

SAP Price Performance

Shares of SAP stock opened at $204.92 on Friday. The stock has a market capitalization of $251.74 billion, a P/E ratio of 29.07, a PEG ratio of 2.19 and a beta of 1.17. The business has a 50 day simple moving average of $224.08 and a two-hundred day simple moving average of $248.22. SAP SE has a 12 month low of $189.22 and a 12 month high of $313.28. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.17 and a quick ratio of 1.10.

SAP (NYSE:SAP) last issued its quarterly earnings results on Thursday, January 29th. The software maker reported $1.90 EPS for the quarter, topping the consensus estimate of $1.77 by $0.13. The firm had revenue of $11.36 billion during the quarter, compared to analysts’ expectations of $9.77 billion. SAP had a return on equity of 16.52% and a net margin of 19.92%.The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.40 earnings per share. As a group, analysts predict that SAP SE will post 6.55 EPS for the current fiscal year.

About SAP

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.