Summit Global Investments Reduces Stock Holdings in SAP SE (NYSE:SAP)

Summit Global Investments cut its position in shares of SAP SE (NYSE:SAP) by 23.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,637 shares of the software maker’s stock after selling 1,102 shares during the period. Summit Global Investments’ holdings in SAP were worth $833,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Godsey & Gibb Inc. purchased a new position in shares of SAP during the 3rd quarter worth $25,000. LRI Investments LLC purchased a new position in SAP during the first quarter worth about $25,000. POM Investment Strategies LLC raised its stake in shares of SAP by 892.3% in the 2nd quarter. POM Investment Strategies LLC now owns 129 shares of the software maker’s stock valued at $26,000 after acquiring an additional 116 shares during the period. Crewe Advisors LLC lifted its holdings in shares of SAP by 1,270.0% in the 2nd quarter. Crewe Advisors LLC now owns 137 shares of the software maker’s stock worth $28,000 after acquiring an additional 127 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of SAP by 254.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 170 shares of the software maker’s stock worth $33,000 after purchasing an additional 122 shares during the period.

SAP Stock Performance

Shares of SAP opened at $237.56 on Friday. The stock has a 50-day simple moving average of $227.28 and a 200-day simple moving average of $208.66. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.10 and a current ratio of 1.10. SAP SE has a 1 year low of $142.39 and a 1 year high of $243.01. The stock has a market capitalization of $291.84 billion, a PE ratio of 95.02, a PEG ratio of 4.43 and a beta of 1.25.

SAP (NYSE:SAP) last posted its quarterly earnings results on Monday, October 21st. The software maker reported $1.23 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.08). SAP had a return on equity of 11.44% and a net margin of 8.15%. The firm had revenue of $8.47 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter last year, the firm earned $1.20 EPS. The company’s revenue was up 9.4% on a year-over-year basis. On average, analysts predict that SAP SE will post 4.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

SAP 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.