Quadrant Capital Group LLC Trims Stake in SAP SE (SAP)
Quadrant Capital Group LLC trimmed its holdings in SAP SE (NYSE:SAP) by 4.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,654 shares of the software maker’s stock after selling 238 shares during the quarter. Quadrant Capital Group LLC’s holdings in SAP SE were worth $565,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of America Corp DE boosted its position in shares of SAP SE by 37.3% in the first quarter. Bank of America Corp DE now owns 2,565,236 shares of the software maker’s stock valued at $251,830,000 after acquiring an additional 696,447 shares during the period. Parallel Advisors LLC boosted its position in shares of SAP SE by 32.4% in the second quarter. Parallel Advisors LLC now owns 957 shares of the software maker’s stock valued at $101,000 after acquiring an additional 234 shares during the period. Marshall Wace North America L.P. bought a new stake in shares of SAP SE in the first quarter valued at approximately $2,053,000. Martin Investment Management LLC boosted its position in shares of SAP SE by 2.2% in the second quarter. Martin Investment Management LLC now owns 105,451 shares of the software maker’s stock valued at $11,038,000 after acquiring an additional 2,310 shares during the period. Finally, Westwood Holdings Group Inc. boosted its position in shares of SAP SE by 6.0% in the first quarter. Westwood Holdings Group Inc. now owns 5,515 shares of the software maker’s stock valued at $541,000 after acquiring an additional 310 shares during the period. 3.57% of the stock is owned by institutional investors.
SAP SE (NYSE:SAP) traded up 1.07% on Monday, reaching $112.16. The company’s stock had a trading volume of 299,737 shares. The company has a 50-day moving average price of $107.96 and a 200 day moving average price of $104.45. SAP SE has a 12 month low of $80.93 and a 12 month high of $112.28. The company has a market cap of $134.47 billion, a P/E ratio of 32.52 and a beta of 1.10.
SAP SE announced that its board has authorized a share repurchase plan on Thursday, July 20th that authorizes the company to buyback shares. This buyback authorization authorizes the software maker to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.
Several research firms have recently weighed in on SAP. Royal Bank Of Canada reissued a “hold” rating on shares of SAP SE in a research report on Monday, September 18th. Stifel Nicolaus reissued a “sell” rating and issued a $75.00 price objective on shares of SAP SE in a research report on Friday, July 14th. Berenberg Bank began coverage on SAP SE in a research report on Wednesday, August 23rd. They issued a “buy” rating for the company. Zacks Investment Research raised SAP SE from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. Finally, CIBC increased their price objective on SAP SE from $107.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $94.84.
About SAP SE
SAP SE (SAP) is a software and service provider. The Company offers enterprise application software. The Company operates through two segments: Applications, Technology & Services segment, and the SAP Business Network segment. The Applications, Technology & Services segment is engaged in the sale of software licenses, subscriptions to its cloud applications, and related services (primarily support services and various professional services, and support services, as well as implementation services of its software products and education services on the use of its products).
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