CIBC Asset Management Inc Trims Stake in SAP SE (SAP)

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CIBC Asset Management Inc trimmed its holdings in SAP SE (NYSE:SAP) by 9.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 5,410 shares of the software maker’s stock after selling 540 shares during the period. CIBC Asset Management Inc’s holdings in SAP were worth $665,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SAP. Comerica Bank increased its holdings in SAP by 2.4% in the third quarter. Comerica Bank now owns 193,140 shares of the software maker’s stock valued at $20,808,000 after buying an additional 4,506 shares in the last quarter. Mission Wealth Management LP increased its holdings in SAP by 24.0% in the third quarter. Mission Wealth Management LP now owns 2,739 shares of the software maker’s stock valued at $337,000 after buying an additional 530 shares in the last quarter. Moody National Bank Trust Division purchased a new position in SAP in the third quarter valued at about $2,325,000. Regentatlantic Capital LLC purchased a new position in SAP in the third quarter valued at about $250,000. Finally, Greenleaf Trust increased its holdings in SAP by 10.4% in the third quarter. Greenleaf Trust now owns 5,786 shares of the software maker’s stock valued at $712,000 after buying an additional 545 shares in the last quarter. 4.52% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have issued reports on SAP. DZ Bank reaffirmed a “buy” rating on shares of SAP in a report on Friday, July 20th. Oppenheimer increased their price target on shares of SAP from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, July 18th. Deutsche Bank reiterated a “buy” rating on shares of SAP in a research report on Friday, July 20th. Royal Bank of Canada reiterated a “neutral” rating on shares of SAP in a research report on Thursday, October 18th. Finally, Barclays lowered their price target on shares of SAP from $142.00 to $137.00 and set an “overweight” rating on the stock in a research report on Friday, October 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. SAP currently has a consensus rating of “Buy” and a consensus target price of $112.89.

SAP stock opened at $108.31 on Friday. The company has a market capitalization of $134.51 billion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 3.48 and a beta of 1.29. SAP SE has a 12 month low of $99.20 and a 12 month high of $127.16. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.25.

SAP (NYSE:SAP) last released its quarterly earnings results on Thursday, October 18th. The software maker reported $1.14 EPS for the quarter, beating the consensus estimate of $1.12 by $0.02. The business had revenue of $6.03 billion for the quarter, compared to analyst estimates of $5.99 billion. SAP had a net margin of 17.57% and a return on equity of 17.64%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.01 earnings per share. Equities analysts anticipate that SAP SE will post 4.29 EPS for the current fiscal year.

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About SAP

SAP SE operates as an enterprise application software, and analytics and business intelligence company worldwide. It offers SAP HANA, which enables businesses to process and analyze live data; SAP Data Hub, a solution that enables businesses to manage data from various sources; SAP Cloud Platform, which enables businesses to connect and integrate applications; SAP BW/4HANA, a data warehouse solution; SAP Leonardo, a system that enables customers to make business sense and opportunity of disruptive technologies; and SAP Analytics Cloud, which leverages the intersection of business intelligence, planning, and predictive analytics.

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Institutional Ownership by Quarter for SAP (NYSE:SAP)

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