PNC Financial Services Group Inc. Trims Stock Position in SAP SE $SAP

PNC Financial Services Group Inc. reduced its stake in SAP SE (NYSE:SAP) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,874 shares of the software maker’s stock after selling 933 shares during the period. PNC Financial Services Group Inc.’s holdings in SAP were worth $25,810,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. TD Asset Management Inc raised its position in shares of SAP by 3.8% in the 1st quarter. TD Asset Management Inc now owns 1,662,809 shares of the software maker’s stock worth $446,364,000 after acquiring an additional 60,261 shares in the last quarter. Northern Trust Corp grew its position in shares of SAP by 2.8% in the 1st quarter. Northern Trust Corp now owns 1,512,724 shares of the software maker’s stock worth $406,076,000 after buying an additional 40,926 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of SAP by 6.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,318,908 shares of the software maker’s stock worth $354,048,000 after acquiring an additional 80,164 shares in the last quarter. BNP Paribas Financial Markets lifted its position in SAP by 2.6% during the 1st quarter. BNP Paribas Financial Markets now owns 366,871 shares of the software maker’s stock valued at $98,483,000 after acquiring an additional 9,411 shares during the period. Finally, Aviso Financial Inc. grew its holdings in SAP by 2.6% in the first quarter. Aviso Financial Inc. now owns 321,048 shares of the software maker’s stock worth $86,182,000 after purchasing an additional 8,098 shares during the period.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Cowen restated a “buy” rating on shares of SAP in a research note on Thursday, October 23rd. Jefferies Financial Group restated a “buy” rating on shares of SAP in a report on Monday, October 27th. Erste Group Bank lowered SAP from a “buy” rating to a “hold” rating in a research report on Thursday, August 14th. Weiss Ratings reissued a “buy (b-)” rating on shares of SAP in a research report on Friday, October 31st. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of SAP in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, SAP has an average rating of “Buy” and an average price target of $284.33.

SAP Stock Performance

Shares of SAP opened at $245.02 on Friday. The firm has a market capitalization of $301.01 billion, a P/E ratio of 36.68, a PEG ratio of 3.83 and a beta of 1.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.03. SAP SE has a one year low of $227.52 and a one year high of $313.28. The business has a fifty day moving average of $265.26 and a 200 day moving average of $282.96.

SAP (NYSE:SAP) last announced its earnings results on Wednesday, October 22nd. The software maker reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.17. SAP had a return on equity of 15.69% and a net margin of 19.50%.The business had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $9.10 billion. During the same period last year, the firm posted $1.23 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, sell-side analysts anticipate that SAP SE will post 6.55 EPS 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.