Ranger International Management LP Sells 2,098 Shares of SAP SE (SAP)
Ranger International Management LP lowered its position in SAP SE (NYSE:SAP) by 50.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,098 shares of the software maker’s stock after selling 2,098 shares during the quarter. SAP SE makes up about 1.0% of Ranger International Management LP’s holdings, making the stock its 29th biggest holding. Ranger International Management LP’s holdings in SAP SE were worth $220,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of SAP. Parallel Advisors LLC lifted its stake in SAP SE by 32.4% in the second quarter. Parallel Advisors LLC now owns 957 shares of the software maker’s stock worth $101,000 after acquiring an additional 234 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new position in SAP SE in the second quarter worth approximately $132,000. IFP Advisors Inc lifted its stake in SAP SE by 29.4% in the second quarter. IFP Advisors Inc now owns 1,456 shares of the software maker’s stock worth $152,000 after acquiring an additional 331 shares during the last quarter. Fiduciary Trust Co. purchased a new position in SAP SE in the second quarter worth approximately $157,000. Finally, Huntington National Bank lifted its stake in SAP SE by 1.6% in the second quarter. Huntington National Bank now owns 1,548 shares of the software maker’s stock worth $162,000 after acquiring an additional 24 shares during the last quarter. Institutional investors own 3.56% of the company’s stock.
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Several brokerages have recently weighed in on SAP. CIBC boosted their price objective on shares of SAP SE from $107.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, June 12th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $115.00 price objective (up previously from $107.00) on shares of SAP SE in a research report on Friday, June 9th. Stifel Nicolaus restated a “sell” rating and set a $75.00 price objective on shares of SAP SE in a research report on Friday, July 14th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of SAP SE in a research report on Monday, June 26th. Finally, Berenberg Bank began coverage on shares of SAP SE in a research report on Wednesday, August 23rd. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $94.84.
Shares of SAP SE (NYSE:SAP) traded up 0.55% during trading on Thursday, reaching $108.57. 127,507 shares of the company’s stock traded hands. The company has a 50 day moving average of $106.54 and a 200-day moving average of $103.24. The company has a market capitalization of $130.16 billion, a price-to-earnings ratio of 31.48 and a beta of 1.12. SAP SE has a 1-year low of $80.93 and a 1-year high of $110.67.
SAP SE announced that its board has initiated a share repurchase plan on Thursday, July 20th that authorizes the company to repurchase outstanding shares. This repurchase authorization authorizes the software maker to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
SAP SE Profile
SAP SE (SAP) is a software and service provider. The Company offers enterprise application software. The Company operates through two segments: Applications, Technology & Services segment, and the SAP Business Network segment. The Applications, Technology & Services segment is engaged in the sale of software licenses, subscriptions to its cloud applications, and related services (primarily support services and various professional services, and support services, as well as implementation services of its software products and education services on the use of its products).
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