Private Trust Co. NA Sells 119 Shares of SAP SE (NYSE:SAP)

Private Trust Co. NA reduced its stake in shares of SAP SE (NYSE:SAP) by 7.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,549 shares of the software maker’s stock after selling 119 shares during the quarter. Private Trust Co. NA’s holdings in SAP were worth $355,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC bought a new position in SAP in the third quarter valued at about $40,573,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of SAP by 644.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 164,330 shares of the software maker’s stock valued at $37,648,000 after purchasing an additional 142,270 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of SAP during the 2nd quarter worth approximately $21,479,000. Hantz Financial Services Inc. bought a new stake in shares of SAP during the second quarter worth approximately $20,532,000. Finally, Mediolanum International Funds Ltd acquired a new position in SAP in the third quarter valued at approximately $17,376,000.

SAP Price Performance

Shares of SAP opened at $232.20 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market capitalization of $285.26 billion, a PE ratio of 92.88, a P/E/G ratio of 4.49 and a beta of 1.25. The stock has a 50 day simple moving average of $231.31 and a 200 day simple moving average of $213.13. SAP SE has a 52-week low of $148.38 and a 52-week high of $243.01.

SAP (NYSE:SAP) last issued its quarterly earnings data on Monday, October 21st. The software maker reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.08). The company had revenue of $8.47 billion for the quarter, compared to analyst estimates of $9.25 billion. SAP had a return on equity of 11.44% and a net margin of 8.15%. The company’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 earnings per share. Sell-side analysts predict that SAP SE will post 4.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on SAP shares. Argus upgraded shares of SAP from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. TD Cowen upped their price objective on SAP from $234.00 to $240.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. JMP Securities raised their target price on SAP from $245.00 to $300.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 22nd. BMO Capital Markets boosted their target price on SAP from $248.00 to $265.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Barclays increased their price target on shares of SAP from $252.00 to $275.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, SAP has a consensus rating of “Moderate Buy” and a consensus price target of $252.33.

About SAP

SAP SE, together with its subsidiaries, provides applications, technology, and services worldwide. It offers SAP S/4HANA that provides software capabilities for finance, risk and project management, procurement, manufacturing, supply chain and asset management, and research and development; SAP SuccessFactors solutions for human resources, including HR and payroll, talent and employee experience management, and people and workforce analytics; and spend management solutions that covers direct and indirect spend, travel and expense, and external workforce management.