Bank of Montreal Can Decreases Holdings in SAP SE $SAP

Bank of Montreal Can cut its stake in shares of SAP SE (NYSE:SAP) by 6.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 258,272 shares of the software maker’s stock after selling 16,715 shares during the period. Bank of Montreal Can’s holdings in SAP were worth $78,540,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Palogic Value Management L.P. raised its stake in SAP by 0.8% during the 2nd quarter. Palogic Value Management L.P. now owns 6,013 shares of the software maker’s stock valued at $1,829,000 after buying an additional 50 shares during the last quarter. TIAA Trust National Association raised its stake in SAP by 14.5% during the 2nd quarter. TIAA Trust National Association now owns 1,375 shares of the software maker’s stock valued at $418,000 after buying an additional 174 shares during the last quarter. Accuvest Global Advisors purchased a new stake in SAP during the 2nd quarter valued at $713,000. Syverson Strege & Co purchased a new stake in SAP during the 2nd quarter valued at $387,000. Finally, Haven Private LLC purchased a new stake in SAP during the 2nd quarter valued at $216,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Erste Group Bank lowered shares of SAP from a “buy” rating to a “hold” rating in a research note on Thursday, August 14th. Cowen restated a “buy” rating on shares of SAP in a research note on Thursday, October 23rd. Argus restated a “buy” rating and issued a $320.00 price objective on shares of SAP in a research note on Friday, October 24th. Barclays upped their price objective on SAP from $322.00 to $348.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Finally, Wall Street Zen lowered SAP from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $284.33.

SAP Trading Down 1.6%

Shares of SAP stock opened at $259.68 on Wednesday. The company has a market capitalization of $319.02 billion, a P/E ratio of 38.87, a P/E/G ratio of 3.83 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.11. The company has a fifty day moving average of $268.25 and a 200 day moving average of $284.05. SAP SE has a fifty-two week low of $227.52 and a fifty-two week high of $313.28.

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

About SAP

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.