SAP SE (NYSE:SAP) Shares Sold by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. lowered its stake in SAP SE (NYSE:SAP) by 10.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,138 shares of the software maker’s stock after selling 136 shares during the quarter. Legacy Capital Group California Inc.’s holdings in SAP were worth $280,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in SAP by 22.3% in the 3rd quarter. FMR LLC now owns 10,246,279 shares of the software maker’s stock worth $2,347,422,000 after buying an additional 1,866,468 shares during the last quarter. WCM Investment Management LLC purchased a new position in shares of SAP in the fourth quarter valued at approximately $290,023,000. Jennison Associates LLC acquired a new stake in shares of SAP in the fourth quarter worth approximately $47,195,000. International Assets Investment Management LLC purchased a new stake in shares of SAP during the third quarter worth approximately $40,573,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in SAP by 644.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 164,330 shares of the software maker’s stock valued at $37,648,000 after purchasing an additional 142,270 shares during the last quarter.

SAP Stock Performance

SAP stock opened at $282.87 on Friday. The firm has a 50 day simple moving average of $265.88 and a 200-day simple moving average of $241.18. The stock has a market cap of $347.50 billion, a price-to-earnings ratio of 98.56, a price-to-earnings-growth ratio of 4.72 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.12 and a quick ratio of 1.10. SAP SE has a 1-year low of $175.08 and a 1-year high of $293.70.

SAP (NYSE:SAP) last issued its quarterly earnings data on Tuesday, January 28th. The software maker reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.51 by ($0.02). SAP had a return on equity of 12.18% and a net margin of 9.17%. On average, analysts expect that SAP SE will post 6.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of SAP from $283.00 to $286.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. TD Cowen raised shares of SAP from a “hold” rating to a “buy” rating and upped their price objective for the company from $240.00 to $305.00 in a research note on Friday, January 17th. JMP Securities increased their price objective on shares of SAP from $300.00 to $330.00 and gave the company a “market outperform” rating in a report on Wednesday, January 29th. BMO Capital Markets boosted their target price on SAP from $265.00 to $307.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, Kepler Capital Markets raised SAP from a “hold” rating to a “buy” rating in a report on Wednesday, January 15th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $248.83.

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.