Royal Bank of Canada Sells 43,287 Shares of SAP SE (SAP)
Royal Bank of Canada decreased its position in SAP SE (NYSE:SAP) by 7.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 512,983 shares of the company’s stock after selling 43,287 shares during the period. Royal Bank of Canada’s holdings in SAP SE were worth $38,484,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. purchased a new stake in SAP SE during the second quarter worth $71,262,000. Crawford Investment Counsel Inc. increased its stake in SAP SE by 283.2% in the second quarter. Crawford Investment Counsel Inc. now owns 437,198 shares of the company’s stock worth $32,799,000 after buying an additional 323,104 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in SAP SE during the first quarter worth $13,663,000. 1832 Asset Management L.P. purchased a new stake in SAP SE during the second quarter worth $20,367,000. Finally, Sustainable Growth Advisers LP increased its stake in SAP SE by 9.1% in the second quarter. Sustainable Growth Advisers LP now owns 1,823,554 shares of the company’s stock worth $136,803,000 after buying an additional 151,625 shares during the last quarter. Institutional investors own 3.51% of the company’s stock.
SAP SE (NYSE:SAP) traded up 0.92% during mid-day trading on Friday, reaching $83.22. The company had a trading volume of 870,439 shares. The stock has a 50 day moving average price of $88.12 and a 200 day moving average price of $83.75. The company has a market capitalization of $99.70 billion, a P/E ratio of 26.64 and a beta of 1.36. SAP SE has a one year low of $71.39 and a one year high of $92.76.
A number of equities research analysts have recently weighed in on SAP shares. Royal Bank Of Canada boosted their target price on SAP SE to $95.00 and gave the stock a “sector perform” rating in a research report on Friday, September 30th. DZ Bank AG restated a “buy” rating on shares of SAP SE in a research report on Wednesday, October 12th. Barclays PLC reaffirmed an “overweight” rating and set a $105.00 price objective on shares of SAP SE in a research note on Tuesday, August 30th. Zacks Investment Research raised SAP SE from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and set a $85.00 price objective (up from $78.00) on shares of SAP SE in a research note on Sunday, July 24th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $85.55.
SAP SE Company Profile
SAP SE (SAP), formerly SAP AG, is engaged in business application and analytics software. The Company is also engaged in digital commerce and is an enterprise cloud company. Its segments include Applications, Technology & Services segment, which is engaged in the sale of software licenses, subscriptions to its cloud applications, and related services (mainly support services and various professional services and premium support services, as well as implementation services of its software products and education services on the use of its products), and SAP Business Network Segment, which includes a network of networks, which covers sourcing, procurement, and travel and expenses.
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