Cohen Klingenstein LLC Cuts Stock Position in SAP SE (NYSE:SAP)

Cohen Klingenstein LLC decreased its position in shares of SAP SE (NYSE:SAP) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,179 shares of the software maker’s stock after selling 2,077 shares during the period. Cohen Klingenstein LLC’s holdings in SAP were worth $7,430,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Sanibel Captiva Trust Company Inc. raised its stake in SAP by 75.3% during the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 10,907 shares of the software maker’s stock valued at $2,685,000 after buying an additional 4,685 shares in the last quarter. Brooklyn Investment Group raised its stake in SAP by 426.1% during the 4th quarter. Brooklyn Investment Group now owns 968 shares of the software maker’s stock valued at $238,000 after acquiring an additional 784 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of SAP during the 4th quarter valued at $654,000. Everpar Advisors LLC purchased a new stake in SAP in the 4th quarter worth about $206,000. Finally, Channel Wealth LLC acquired a new position in SAP in the 4th quarter valued at approximately $202,000.

SAP Price Performance

SAP stock opened at $262.74 on Friday. The business has a 50-day simple moving average of $245.17 and a two-hundred day simple moving average of $227.47. SAP SE has a 52-week low of $158.94 and a 52-week high of $264.71. The company has a market capitalization of $322.77 billion, a P/E ratio of 105.09, a price-to-earnings-growth ratio of 3.56 and a beta of 1.22. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.10 and a current ratio of 1.10.

SAP (NYSE:SAP) last posted its quarterly earnings results on Monday, October 21st. The software maker reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.08). SAP had a return on equity of 11.44% and a net margin of 8.15%. The company had revenue of $8.47 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period last year, the firm posted $1.20 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Research analysts expect that SAP SE will post 4.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SAP shares. BMO Capital Markets increased their price objective on SAP from $248.00 to $265.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Kepler Capital Markets raised shares of SAP from a “hold” rating to a “buy” rating in a research note on Wednesday. TD Cowen upgraded shares of SAP from a “hold” rating to a “buy” rating and upped their target price for the stock from $240.00 to $305.00 in a research report on Friday. Barclays lifted their target price on SAP from $252.00 to $275.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, JMP Securities raised their price target on SAP from $245.00 to $300.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 22nd. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $263.17.

About SAP

SAP SE, together with its subsidiaries, provides applications, technology, and services worldwide. It offers SAP S/4HANA that provides software capabilities for finance, risk and project management, procurement, manufacturing, supply chain and asset management, and research and development; SAP SuccessFactors solutions for human resources, including HR and payroll, talent and employee experience management, and people and workforce analytics; and spend management solutions that covers direct and indirect spend, travel and expense, and external workforce management.