Cidel Asset Management Inc. Has $17.25 Million Position in SAP SE $SAP

Cidel Asset Management Inc. trimmed its position in SAP SE (NYSE:SAP) by 22.1% during the second quarter, HoldingsChannel.com reports. The fund owned 111,952 shares of the software maker’s stock after selling 31,804 shares during the period. Cidel Asset Management Inc.’s holdings in SAP were worth $17,253,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Dash Acquisitions Inc. lifted its holdings in SAP by 8.7% during the fourth quarter. Dash Acquisitions Inc. now owns 78,880 shares of the software maker’s stock worth $19,161,000 after acquiring an additional 6,315 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of SAP by 59.7% in the first quarter. Sequoia Financial Advisors LLC now owns 18,091 shares of the software maker’s stock worth $3,097,000 after acquiring an additional 6,763 shares in the last quarter. Rock Point Advisors LLC raised its position in shares of SAP by 66.5% during the fourth quarter. Rock Point Advisors LLC now owns 33,569 shares of the software maker’s stock worth $8,154,000 after purchasing an additional 13,413 shares during the period. ABC Arbitrage SA bought a new position in shares of SAP during the 1st quarter valued at about $2,306,000. Finally, Ruane Cunniff & Goldfarb L.P. grew its position in shares of SAP by 1,532.8% in the 1st quarter. Ruane Cunniff & Goldfarb L.P. now owns 749,909 shares of the software maker’s stock valued at $128,392,000 after purchasing an additional 703,982 shares during the period.

SAP Trading Down 1.7%

NYSE:SAP opened at $211.45 on Wednesday. SAP SE has a twelve month low of $144.97 and a twelve month high of $281.36. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average price of $188.62 and a two-hundred day moving average price of $180.59. The company has a market cap of $259.77 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 2.56 and a beta of 1.14.

SAP (NYSE:SAP) last posted its quarterly earnings data on Wednesday, July 22nd. The software maker reported $1.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.18). The business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.30 billion. SAP had a net margin of 20.88% and a return on equity of 17.07%. SAP’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $1.50 earnings per share. As a group, analysts expect that SAP SE will post 8.18 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Morgan Stanley reissued an “overweight” rating on shares of SAP in a research note on Friday, August 21st. BMO Capital Markets upped their price target on shares of SAP from $175.00 to $177.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Citigroup reissued a “buy” rating on shares of SAP in a research report on Thursday, August 27th. Wall Street Zen lowered shares of SAP from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of SAP in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $264.83.

SAP Profile

SAP SE is a German enterprise software company headquartered in Walldorf, Germany. The company develops technology that helps organizations manage core business operations, including finance, procurement, supply chain, manufacturing, human resources, sales and customer relationships.

SAP’s portfolio is centered on its cloud-based enterprise resource planning platform, SAP S/4HANA, along with the SAP Business Technology Platform. Its products and services also include SAP SuccessFactors for human resources, SAP Ariba for business-to-business procurement, SAP Concur for travel and expense management, and solutions for customer experience, data management, analytics and artificial intelligence.

SAP was founded in 1972 by five former IBM employees and has grown into a global provider of business software.