Bank of New York Mellon Corp Cuts Stake in SAP SE $SAP

Bank of New York Mellon Corp trimmed its stake in SAP SE (NYSE:SAP) by 6.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 273,452 shares of the software maker’s stock after selling 19,539 shares during the quarter. Bank of New York Mellon Corp’s holdings in SAP were worth $83,157,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Twin Tree Management LP grew its stake in shares of SAP by 122.5% during the 1st quarter. Twin Tree Management LP now owns 51,632 shares of the software maker’s stock valued at $13,860,000 after buying an additional 280,896 shares during the period. Jennison Associates LLC boosted its holdings in SAP by 195.0% in the second quarter. Jennison Associates LLC now owns 221,349 shares of the software maker’s stock valued at $67,312,000 after acquiring an additional 146,325 shares during the last quarter. Deutsche Bank AG boosted its holdings in SAP by 2,105.3% in the first quarter. Deutsche Bank AG now owns 105,260 shares of the software maker’s stock valued at $28,256,000 after acquiring an additional 100,487 shares during the last quarter. Goldman Sachs Group Inc. grew its position in SAP by 6.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,318,908 shares of the software maker’s stock valued at $354,048,000 after acquiring an additional 80,164 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in SAP by 108.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 128,100 shares of the software maker’s stock worth $38,517,000 after acquiring an additional 66,551 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SAP. Morgan Stanley reaffirmed an “overweight” rating on shares of SAP in a research note on Friday, October 31st. Wall Street Zen cut shares of SAP from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Jefferies Financial Group reiterated a “buy” rating on shares of SAP in a research note on Monday, October 27th. Cowen reissued a “buy” rating on shares of SAP in a research note on Thursday, October 23rd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $375.00 price target on shares of SAP in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $284.33.

SAP Trading Down 0.8%

NYSE SAP opened at $251.93 on Friday. The company has a market capitalization of $309.50 billion, a price-to-earnings ratio of 37.71, a price-to-earnings-growth ratio of 3.83 and a beta of 1.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.03. SAP SE has a 12 month low of $227.52 and a 12 month high of $313.28. The company’s fifty day moving average price is $267.14 and its two-hundred day moving average price is $283.91.

SAP (NYSE:SAP) last issued its earnings results on Wednesday, October 22nd. The software maker reported $1.86 EPS for the quarter, topping the consensus estimate of $1.69 by $0.17. SAP had a return on equity of 15.69% and a net margin of 19.50%.The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same quarter last year, the firm earned $1.23 EPS. The business’s revenue was up 7.2% on a year-over-year basis. As a group, research analysts predict that SAP SE will post 6.55 earnings per share for the current fiscal year.

SAP Company Profile

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.