SAP SE $SAP Stock Sold by Cidel Asset Management Inc.

Cidel Asset Management Inc. decreased its holdings in shares of SAP SE (NYSE:SAP) by 90.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,654 shares of the software maker’s stock after selling 101,298 shares during the quarter. Cidel Asset Management Inc.’s holdings in SAP were worth $2,221,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership purchased a new stake in SAP in the 1st quarter worth about $150,701,000. Ruane Cunniff & Goldfarb L.P. boosted its position in SAP by 1,532.8% during the 1st quarter. Ruane Cunniff & Goldfarb L.P. now owns 749,909 shares of the software maker’s stock worth $128,392,000 after acquiring an additional 703,982 shares during the period. Bank of America Corp DE grew its stake in SAP by 15.9% during the 1st quarter. Bank of America Corp DE now owns 2,018,383 shares of the software maker’s stock valued at $345,567,000 after acquiring an additional 276,263 shares in the last quarter. Tidal Investments LLC grew its stake in SAP by 18.5% during the 2nd quarter. Tidal Investments LLC now owns 1,214,315 shares of the software maker’s stock valued at $187,138,000 after acquiring an additional 189,591 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in SAP by 48.2% during the 1st quarter. Principal Financial Group Inc. now owns 550,531 shares of the software maker’s stock valued at $94,257,000 after acquiring an additional 179,040 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SAP. Weiss Ratings downgraded SAP from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 23rd. Wells Fargo & Company reiterated an “overweight” rating on shares of SAP in a research note on Wednesday, August 12th. Morgan Stanley reiterated an “overweight” rating on shares of SAP in a research report on Friday, August 21st. Oppenheimer reissued a “market perform” rating on shares of SAP in a research report on Friday, July 24th. Finally, Barclays boosted their target price on shares of SAP from $243.00 to $288.00 and gave the stock an “overweight” rating in a research report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $258.83.

SAP Trading Up 0.4%

Shares of SAP stock opened at $235.02 on Friday. SAP SE has a 12 month low of $144.97 and a 12 month high of $265.88. The company has a market cap of $288.72 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 2.83 and a beta of 1.13. The company has a quick ratio of 1.15, a current ratio of 1.16 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $217.92 and its two-hundred day moving average is $192.44.

SAP Company Profile

SAP SE is a global enterprise software company headquartered in Walldorf, Germany. Founded in 1972 by five former IBM employees, SAP originally developed software to help businesses integrate accounting and operational data. The company has since become a major provider of cloud-based business applications and enterprise technology.

SAP’s portfolio includes enterprise resource planning software, including SAP S/4HANA Cloud, along with solutions for finance, procurement, supply chain management, human resources, customer experience and business analytics.