Elevation Point Wealth Partners LLC Sells 10,364 Shares of SAP SE $SAP

Elevation Point Wealth Partners LLC trimmed its position in SAP SE (NYSE:SAP) by 56.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,004 shares of the software maker’s stock after selling 10,364 shares during the period. Elevation Point Wealth Partners LLC’s holdings in SAP were worth $2,139,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its holdings in shares of SAP by 2.8% during the 3rd quarter. Fisher Asset Management LLC now owns 14,549,331 shares of the software maker’s stock valued at $3,887,727,000 after buying an additional 392,010 shares in the last quarter. Bank of America Corp DE lifted its position in SAP by 58.1% during the 2nd quarter. Bank of America Corp DE now owns 2,650,418 shares of the software maker’s stock valued at $805,992,000 after acquiring an additional 973,779 shares during the period. Ameriprise Financial Inc. lifted its position in SAP by 2.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,120,408 shares of the software maker’s stock valued at $296,828,000 after acquiring an additional 30,806 shares during the period. JPMorgan Chase & Co. boosted its stake in SAP by 2.7% during the third quarter. JPMorgan Chase & Co. now owns 1,116,675 shares of the software maker’s stock worth $298,387,000 after acquiring an additional 28,924 shares in the last quarter. Finally, Sustainable Growth Advisers LP grew its holdings in SAP by 1,126.3% in the third quarter. Sustainable Growth Advisers LP now owns 842,416 shares of the software maker’s stock worth $225,102,000 after purchasing an additional 773,720 shares during the period.

SAP Trading Down 0.3%

Shares of NYSE:SAP opened at $189.96 on Monday. The stock’s 50-day simple moving average is $213.55 and its two-hundred day simple moving average is $241.73. The stock has a market capitalization of $233.37 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 2.11 and a beta of 1.18. SAP SE has a 52-week low of $187.93 and a 52-week high of $313.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.16 and a current ratio of 1.16.

SAP (NYSE:SAP) last issued its quarterly earnings data on Thursday, January 29th. The software maker reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.13. The firm had revenue of $11.36 billion for the quarter, compared to analysts’ expectations of $9.77 billion. SAP had a net margin of 19.92% and a return on equity of 16.54%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.40 EPS. Analysts expect that SAP SE will post 6.55 EPS for the current year.

Analysts Set New Price Targets

SAP has been the subject of a number of analyst reports. Arete Research raised shares of SAP to a “strong-buy” rating in a research note on Thursday, December 11th. TD Cowen reissued a “buy” rating on shares of SAP in a research report on Friday, January 30th. Weiss Ratings raised SAP from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 27th. Santander upgraded SAP to a “neutral” rating in a research note on Tuesday, February 3rd. Finally, Wall Street Zen downgraded SAP from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, SAP currently has an average rating of “Moderate Buy” and a consensus target price of $305.75.

SAP Company Profile

SAP SE is a global enterprise software company headquartered in Walldorf, Germany. Founded in 1972 by five former IBM engineers, the company’s name is an acronym for Systeme, Anwendungen und Produkte in der Datenverarbeitung (Systems, Applications & Products in Data Processing). SAP develops and sells software and services that help organizations manage business processes across finance, human resources, procurement, manufacturing, supply chain and customer relationships.

SAP’s product portfolio spans on‑premises and cloud offerings, anchored by its enterprise resource planning (ERP) solutions such as SAP S/4HANA and the SAP HANA in‑memory database and platform.