Comerica Securities Inc. cut its stake in SAP SE (NYSE:SAP) by 9.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,752 shares of the software maker’s stock after selling 409 shares during the period. Comerica Securities Inc.’s holdings in SAP SE were worth $393,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC increased its holdings in SAP SE by 32.4% in the second quarter. Parallel Advisors LLC now owns 957 shares of the software maker’s stock valued at $101,000 after buying an additional 234 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new position in SAP SE in the second quarter valued at about $132,000. IFP Advisors Inc increased its holdings in SAP SE by 29.4% in the second quarter. IFP Advisors Inc now owns 1,456 shares of the software maker’s stock valued at $152,000 after buying an additional 331 shares in the last quarter. Fiduciary Trust Co. purchased a new position in SAP SE in the second quarter valued at about $157,000. Finally, Huntington National Bank increased its holdings in SAP SE by 1.6% in the second quarter. Huntington National Bank now owns 1,548 shares of the software maker’s stock valued at $162,000 after buying an additional 24 shares in the last quarter. 3.56% of the stock is owned by institutional investors.
A number of research analysts have issued reports on SAP shares. Zacks Investment Research cut shares of SAP SE from a “hold” rating to a “sell” rating in a report on Monday, July 24th. DZ Bank AG reaffirmed a “buy” rating on shares of SAP SE in a report on Wednesday, June 28th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of SAP SE in a report on Monday, June 26th. BidaskClub cut shares of SAP SE from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, Royal Bank Of Canada increased their target price on shares of SAP SE from $102.00 to $106.00 and gave the company a “sector perform” rating in a report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. SAP SE has a consensus rating of “Buy” and an average price target of $94.84.
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Shares of SAP SE (SAP) opened at 109.74 on Friday. The company’s 50-day moving average is $106.30 and its 200-day moving average is $102.88. SAP SE has a 12 month low of $80.93 and a 12 month high of $110.32. The firm has a market cap of $131.57 billion, a price-to-earnings ratio of 31.97 and a beta of 1.12.
SAP SE announced that its board has initiated a share buyback plan on Thursday, July 20th that allows the company to repurchase outstanding shares. This repurchase authorization allows the software maker to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
SAP SE Company Profile
SAP SE (SAP) is a software and service provider. The Company offers enterprise application software. The Company operates through two segments: Applications, Technology & Services segment, and the SAP Business Network segment. The Applications, Technology & Services segment is engaged in the sale of software licenses, subscriptions to its cloud applications, and related services (primarily support services and various professional services, and support services, as well as implementation services of its software products and education services on the use of its products).
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