Sawtooth Solutions LLC lowered its position in shares of SAP SE (NYSE:SAP) by 18.2% during the third quarter, Holdings Channel reports. The fund owned 3,670 shares of the software maker’s stock after selling 818 shares during the quarter. Sawtooth Solutions LLC’s holdings in SAP were worth $451,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. CSat Investment Advisory L.P. bought a new stake in SAP in the 2nd quarter worth about $5,382,000. Investment House LLC grew its position in SAP by 2.0% in the 2nd quarter. Investment House LLC now owns 56,108 shares of the software maker’s stock worth $6,489,000 after purchasing an additional 1,091 shares in the last quarter. Timber Hill LLC bought a new stake in SAP in the 2nd quarter worth about $821,000. Hilltop Holdings Inc. bought a new stake in SAP in the 2nd quarter worth about $245,000. Finally, Chevy Chase Trust Holdings Inc. grew its position in SAP by 1.1% in the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 40,183 shares of the software maker’s stock worth $4,647,000 after purchasing an additional 451 shares in the last quarter. 4.52% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have issued reports on SAP. Zacks Investment Research downgraded shares of SAP from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Barclays reduced their price objective on shares of SAP from $134.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, July 20th. DZ Bank reaffirmed a “buy” rating on shares of SAP in a research report on Friday, July 20th. Royal Bank of Canada reaffirmed a “$121.96” rating on shares of SAP in a research report on Wednesday, July 18th. Finally, ValuEngine downgraded shares of SAP from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $112.89.
SAP (NYSE:SAP) last released its earnings results on Thursday, October 18th. The software maker reported $1.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.02. The firm had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $5.99 billion. SAP had a net margin of 17.57% and a return on equity of 17.64%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 EPS. On average, equities analysts expect that SAP SE will post 4.29 EPS for the current fiscal year.
SAP Company Profile
SAP SE operates as an enterprise application software, and analytics and business intelligence company worldwide. It offers SAP HANA, which enables businesses to process and analyze live data; SAP Data Hub, a solution that enables businesses to manage data from various sources; SAP Cloud Platform, which enables businesses to connect and integrate applications; SAP BW/4HANA, a data warehouse solution; SAP Leonardo, a system that enables customers to make business sense and opportunity of disruptive technologies; and SAP Analytics Cloud, which leverages the intersection of business intelligence, planning, and predictive analytics.
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