Truist Financial Corp Sells 1,238 Shares of SAP SE (NYSE:SAP)

Truist Financial Corp cut its holdings in shares of SAP SE (NYSE:SAP) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 85,413 shares of the software maker’s stock after selling 1,238 shares during the period. Truist Financial Corp’s holdings in SAP were worth $13,204,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stifel Financial Corp grew its position in SAP by 10.9% in the 3rd quarter. Stifel Financial Corp now owns 193,376 shares of the software maker’s stock worth $25,007,000 after purchasing an additional 19,080 shares in the last quarter. Blue Trust Inc. grew its position in SAP by 5.8% in the 4th quarter. Blue Trust Inc. now owns 1,361 shares of the software maker’s stock worth $210,000 after purchasing an additional 75 shares in the last quarter. Clear Street Markets LLC grew its position in SAP by 2.8% in the 3rd quarter. Clear Street Markets LLC now owns 6,183 shares of the software maker’s stock worth $800,000 after purchasing an additional 166 shares in the last quarter. Graham Capital Management L.P. bought a new stake in SAP in the 3rd quarter worth about $430,000. Finally, Private Trust Co. NA grew its position in SAP by 68.5% in the 4th quarter. Private Trust Co. NA now owns 1,547 shares of the software maker’s stock worth $239,000 after purchasing an additional 629 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have issued reports on SAP. KeyCorp began coverage on shares of SAP in a research report on Thursday, March 21st. They issued an “overweight” rating for the company. BMO Capital Markets increased their target price on shares of SAP from $215.00 to $218.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. StockNews.com downgraded shares of SAP from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 18th. Barclays reduced their target price on shares of SAP from $212.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Finally, JMP Securities increased their target price on shares of SAP from $204.00 to $220.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 23rd. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, SAP has a consensus rating of “Moderate Buy” and a consensus target price of $206.20.

SAP Stock Down 0.6 %

Shares of SAP stock opened at $180.07 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.25 and a current ratio of 1.25. The firm’s 50 day moving average is $188.27 and its 200 day moving average is $167.12. SAP SE has a 12 month low of $126.75 and a 12 month high of $199.29.

SAP Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, May 28th. Investors of record on Friday, May 17th will be paid a dividend of $2.3852 per share. This is a boost from SAP’s previous annual dividend of $2.19. This represents a dividend yield of 0.9%. The ex-dividend date is Thursday, May 16th. SAP’s dividend payout ratio is presently 34.92%.

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.