SAP SE $SAP Holdings Lowered by Bank of Nova Scotia

Bank of Nova Scotia reduced its stake in SAP SE (NYSE:SAP) by 73.8% in the first quarter, HoldingsChannel reports. The fund owned 1,379 shares of the software maker’s stock after selling 3,882 shares during the quarter. Bank of Nova Scotia’s holdings in SAP were worth $236,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SAP. Sound Income Strategies LLC lifted its position in SAP by 109.4% in the fourth quarter. Sound Income Strategies LLC now owns 111 shares of the software maker’s stock worth $26,000 after purchasing an additional 58 shares during the period. Bayban bought a new stake in shares of SAP in the 4th quarter worth $28,000. Annis Gardner Whiting Capital Advisors LLC raised its stake in shares of SAP by 758.8% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 146 shares of the software maker’s stock worth $35,000 after buying an additional 129 shares in the last quarter. American National Bank & Trust lifted its holdings in shares of SAP by 641.7% in the fourth quarter. American National Bank & Trust now owns 178 shares of the software maker’s stock valued at $43,000 after buying an additional 154 shares during the period. Finally, Riggs Asset Managment Co. Inc. lifted its holdings in shares of SAP by 83.8% in the second quarter. Riggs Asset Managment Co. Inc. now owns 147 shares of the software maker’s stock valued at $45,000 after buying an additional 67 shares during the period.

SAP Trading Up 1.7%

Shares of NYSE SAP opened at $183.92 on Friday. SAP SE has a 12 month low of $144.97 and a 12 month high of $299.48. The company has a market cap of $225.94 billion, a price-to-earnings ratio of 23.11, a P/E/G ratio of 2.14 and a beta of 1.14. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $165.92 and a 200-day simple moving average of $182.28.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays lowered their target price on SAP from $255.00 to $242.00 and set an “overweight” rating on the stock in a report on Monday, July 27th. The Goldman Sachs Group restated a “buy” rating and set a $265.00 price objective on shares of SAP in a research report on Wednesday, June 10th. TD Cowen reaffirmed a “buy” rating on shares of SAP in a research note on Friday, July 24th. Wall Street Zen lowered shares of SAP from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Santander upgraded shares of SAP from a “neutral” rating to an “outperform” rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $264.83.

SAP 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.