Jennison Associates LLC Lowers Stake in SAP SE $SAP

Jennison Associates LLC cut its holdings in SAP SE (NYSE:SAP) by 68.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,323 shares of the software maker’s stock after selling 104,033 shares during the quarter. Jennison Associates LLC’s holdings in SAP were worth $8,273,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Gryphon Financial Partners LLC boosted its stake in shares of SAP by 70.7% during the first quarter. Gryphon Financial Partners LLC now owns 4,787 shares of the software maker’s stock worth $820,000 after buying an additional 1,983 shares during the period. Assetmark Inc. increased its stake in shares of SAP by 15.2% during the first quarter. Assetmark Inc. now owns 73,292 shares of the software maker’s stock worth $12,548,000 after acquiring an additional 9,674 shares during the period. Angeles Wealth Management LLC increased its position in SAP by 31.1% during the 1st quarter. Angeles Wealth Management LLC now owns 3,081 shares of the software maker’s stock worth $527,000 after purchasing an additional 731 shares during the period. Journey Advisory Group LLC grew its holdings in SAP by 976.8% during the first quarter. Journey Advisory Group LLC now owns 17,713 shares of the software maker’s stock worth $3,033,000 after acquiring an additional 16,068 shares during the period. Finally, Checchi Capital Advisers LLC grew its stake in shares of SAP by 1.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 6,059 shares of the software maker’s stock worth $1,037,000 after purchasing an additional 59 shares during the period.

Analysts Set New Price Targets

A number of analysts recently commented on SAP shares. JPMorgan Chase & Co. reissued a “neutral” rating on shares of SAP in a report on Tuesday, March 24th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $265.00 target price on shares of SAP in a report on Wednesday, June 10th. HSBC upgraded shares of SAP from a “hold” rating to a “buy” rating in a research report on Wednesday, April 22nd. Barclays lowered their price target on SAP from $257.00 to $255.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Weiss Ratings downgraded SAP from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $270.83.

SAP Price Performance

Shares of NYSE SAP opened at $154.54 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.11. The company’s 50-day moving average price is $166.38 and its 200 day moving average price is $185.91. SAP SE has a 52 week low of $148.06 and a 52 week high of $307.66. The stock has a market cap of $189.86 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 1.82 and a beta of 1.14.

SAP (NYSE:SAP) last announced its earnings results on Friday, February 27th. The software maker reported $1.99 earnings per share (EPS) for the quarter. SAP had a net margin of 20.08% and a return on equity of 17.31%. The company had revenue of $11.06 billion during the quarter. As a group, research analysts forecast that SAP SE will post 8.3 earnings per share for the current fiscal year.

About SAP

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.