Legacy Wealth Asset Management LLC Sells 325 Shares of SAP SE (NYSE:SAP)

Legacy Wealth Asset Management LLC lowered its stake in SAP SE (NYSE:SAP) by 2.8% in the fourth quarter, Holdings Channel reports. The fund owned 11,377 shares of the software maker’s stock after selling 325 shares during the quarter. SAP accounts for approximately 0.8% of Legacy Wealth Asset Management LLC’s investment portfolio, making the stock its 15th largest holding. Legacy Wealth Asset Management LLC’s holdings in SAP were worth $2,801,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. FMR LLC lifted its stake in SAP by 22.3% in the 3rd quarter. FMR LLC now owns 10,246,279 shares of the software maker’s stock valued at $2,347,422,000 after purchasing an additional 1,866,468 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of SAP by 0.8% during the third quarter. Principal Financial Group Inc. now owns 611,572 shares of the software maker’s stock worth $140,111,000 after buying an additional 4,775 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of SAP by 1.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 548,469 shares of the software maker’s stock valued at $125,654,000 after acquiring an additional 7,667 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of SAP by 12.5% during the 3rd quarter. Stifel Financial Corp now owns 210,804 shares of the software maker’s stock valued at $48,295,000 after acquiring an additional 23,352 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in SAP by 8.6% during the 2nd quarter. NewEdge Advisors LLC now owns 197,976 shares of the software maker’s stock worth $39,934,000 after acquiring an additional 15,604 shares during the last quarter.

SAP Price Performance

Shares of NYSE SAP opened at $261.79 on Friday. The company has a market capitalization of $321.61 billion, a PE ratio of 104.72, a P/E/G ratio of 3.56 and a beta of 1.22. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.17. SAP SE has a twelve month low of $155.82 and a twelve month high of $262.87. The firm has a fifty day simple moving average of $244.74 and a 200 day simple moving average of $227.23.

SAP (NYSE:SAP) last issued its quarterly earnings results on Monday, October 21st. The software maker reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.08). SAP had a return on equity of 11.44% and a net margin of 8.15%. The business had revenue of $8.47 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the previous year, the business posted $1.20 earnings per share. The business’s revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts forecast that SAP SE will post 4.66 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. TD Cowen lifted their price target on SAP from $234.00 to $240.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Kepler Capital Markets upgraded shares of SAP from a “hold” rating to a “buy” rating in a research report on Wednesday. BMO Capital Markets upped their price target on shares of SAP from $248.00 to $265.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. JMP Securities lifted their price target on shares of SAP from $245.00 to $300.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 22nd. Finally, Barclays increased their price objective on SAP from $252.00 to $275.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $252.33.

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.