Verdence Capital Advisors LLC Decreases Holdings in SAP SE (NYSE:SAP)

Verdence Capital Advisors LLC decreased its holdings in SAP SE (NYSE:SAP) by 53.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,372 shares of the software maker’s stock after selling 7,343 shares during the period. Verdence Capital Advisors LLC’s holdings in SAP were worth $1,710,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of SAP. Brighton Jones LLC grew its stake in shares of SAP by 91.1% during the fourth quarter. Brighton Jones LLC now owns 2,633 shares of the software maker’s stock valued at $648,000 after buying an additional 1,255 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of SAP by 16.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 76,495 shares of the software maker’s stock worth $18,834,000 after buying an additional 10,763 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of SAP by 9.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 16,658 shares of the software maker’s stock worth $4,101,000 after buying an additional 1,458 shares in the last quarter. Madison Investment Advisors LLC bought a new position in SAP during the fourth quarter valued at approximately $2,510,000. Finally, Corient Private Wealth LLC raised its position in SAP by 32.1% in the fourth quarter. Corient Private Wealth LLC now owns 38,185 shares of the software maker’s stock worth $9,402,000 after acquiring an additional 9,279 shares during the period.

Wall Street Analysts Forecast Growth

SAP has been the subject of several research analyst reports. Wells Fargo & Company assumed coverage on shares of SAP in a research note on Tuesday, May 20th. They set an “overweight” rating for the company. Jefferies Financial Group reissued a “buy” rating on shares of SAP in a research report on Friday, May 2nd. Argus reiterated a “buy” rating and issued a $320.00 target price on shares of SAP in a research note on Tuesday, April 29th. BMO Capital Markets upped their price objective on shares of SAP from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Friday, May 23rd. Finally, Piper Sandler initiated coverage on shares of SAP in a research report on Tuesday, June 17th. They set an “overweight” rating for the company. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $271.83.

SAP Stock Up 0.8%

Shares of NYSE:SAP opened at $308.38 on Friday. The stock’s 50-day moving average price is $299.56 and its 200-day moving average price is $280.73. SAP SE has a 12-month low of $194.93 and a 12-month high of $313.28. The stock has a market capitalization of $378.85 billion, a P/E ratio of 59.08, a price-to-earnings-growth ratio of 4.33 and a beta of 1.30. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15.

SAP (NYSE:SAP) last posted its earnings results on Tuesday, April 22nd. The software maker reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.12. The business had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $9.08 billion. SAP had a net margin of 16.33% and a return on equity of 13.66%. On average, equities analysts anticipate that SAP SE will post 6.55 earnings per share for the current 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.