Truist Financial Corp Trims Position in SAP SE (NYSE:SAP)

Truist Financial Corp lowered its holdings in SAP SE (NYSE:SAP) by 2.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,229 shares of the software maker’s stock after selling 1,850 shares during the period. Truist Financial Corp’s holdings in SAP were worth $14,973,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SAP. Northwest Investment Counselors LLC purchased a new stake in SAP in the first quarter valued at approximately $25,000. LRI Investments LLC purchased a new stake in SAP during the first quarter valued at about $25,000. POM Investment Strategies LLC raised its holdings in shares of SAP by 892.3% in the 2nd quarter. POM Investment Strategies LLC now owns 129 shares of the software maker’s stock worth $26,000 after purchasing an additional 116 shares during the period. Crewe Advisors LLC lifted its stake in shares of SAP by 1,270.0% in the 2nd quarter. Crewe Advisors LLC now owns 137 shares of the software maker’s stock valued at $28,000 after purchasing an additional 127 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new stake in shares of SAP during the 1st quarter worth about $29,000.

SAP Stock Up 0.2 %

NYSE:SAP opened at $220.88 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $271.35 billion, a price-to-earnings ratio of 47.91, a price-to-earnings-growth ratio of 4.38 and a beta of 1.25. SAP SE has a one year low of $127.30 and a one year high of $231.13. The stock has a 50-day simple moving average of $216.95 and a 200 day simple moving average of $201.04.

SAP (NYSE:SAP) last issued its quarterly earnings results on Monday, July 22nd. The software maker reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.09. SAP had a return on equity of 10.98% and a net margin of 7.74%. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.25 billion. During the same period in the previous year, the business earned $0.71 EPS. The business’s quarterly revenue was up 9.7% on a year-over-year basis. Sell-side analysts predict that SAP SE will post 4.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SAP shares. Barclays lifted their price target on shares of SAP from $251.00 to $252.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. JMP Securities upped their target price on SAP from $220.00 to $245.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 23rd. TD Cowen boosted their price target on SAP from $188.00 to $214.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. Argus raised shares of SAP from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets boosted their target price on shares of SAP from $237.00 to $248.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $232.17.

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.