Legacy Wealth Asset Management LLC Cuts Stake in SAP SE (NYSE:SAP)

Legacy Wealth Asset Management LLC lowered its holdings in shares of SAP SE (NYSE:SAP) by 15.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,702 shares of the software maker’s stock after selling 2,113 shares during the quarter. SAP makes up 0.7% of Legacy Wealth Asset Management LLC’s portfolio, making the stock its 20th biggest holding. Legacy Wealth Asset Management LLC’s holdings in SAP were worth $2,681,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Raymond James & Associates grew its position in shares of SAP by 3.7% during the second quarter. Raymond James & Associates now owns 631,961 shares of the software maker’s stock worth $127,473,000 after purchasing an additional 22,438 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of SAP during the first quarter worth about $58,936,000. NewEdge Advisors LLC grew its position in shares of SAP by 8.6% during the second quarter. NewEdge Advisors LLC now owns 197,976 shares of the software maker’s stock worth $39,934,000 after purchasing an additional 15,604 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of SAP during the third quarter worth about $40,573,000. Finally, Sei Investments Co. grew its position in shares of SAP by 4.2% during the second quarter. Sei Investments Co. now owns 168,264 shares of the software maker’s stock worth $33,941,000 after purchasing an additional 6,785 shares in the last quarter.

SAP Price Performance

NYSE:SAP opened at $237.72 on Friday. The firm has a market capitalization of $292.04 billion, a price-to-earnings ratio of 51.57, a PEG ratio of 4.42 and a beta of 1.25. SAP SE has a 1 year low of $130.63 and a 1 year high of $240.08. The business has a 50 day simple moving average of $223.61 and a 200-day simple moving average of $204.82. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12.

SAP (NYSE:SAP) last issued its quarterly earnings results on Monday, October 21st. The software maker reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.08). SAP had a return on equity of 11.39% and a net margin of 8.15%. The business had revenue of $8.47 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the prior year, the business posted $1.20 earnings per share. SAP’s revenue was up 9.4% on a year-over-year basis. Equities analysts forecast that SAP SE will post 4.83 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on SAP. BMO Capital Markets raised their price target on SAP from $248.00 to $265.00 and gave the company an “outperform” rating in a report on Tuesday. JMP Securities raised their price target on SAP from $245.00 to $300.00 and gave the company a “market outperform” rating in a report on Tuesday. Barclays raised their price target on SAP from $252.00 to $275.00 and gave the company an “overweight” rating in a report on Wednesday. TD Cowen raised their price target on SAP from $234.00 to $240.00 and gave the company a “hold” rating in a report on Tuesday. Finally, Argus upgraded SAP from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.