Truist Financial Corp increased its stake in SAP SE (NYSE:SAP – Free Report) by 12.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,054 shares of the software maker’s stock after buying an additional 9,951 shares during the period. Truist Financial Corp’s holdings in SAP were worth $11,143,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Capital International Investors increased its stake in shares of SAP by 58.2% in the first quarter. Capital International Investors now owns 4,700,206 shares of the software maker’s stock worth $524,270,000 after buying an additional 1,729,492 shares during the last quarter. Morgan Stanley increased its stake in shares of SAP by 9.5% in the fourth quarter. Morgan Stanley now owns 2,750,865 shares of the software maker’s stock worth $283,862,000 after buying an additional 238,039 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of SAP by 43.0% in the fourth quarter. Clearbridge Investments LLC now owns 1,831,492 shares of the software maker’s stock worth $188,992,000 after buying an additional 550,825 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in SAP by 230.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,389,447 shares of the software maker’s stock worth $154,173,000 after purchasing an additional 969,505 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in SAP by 4.0% in the second quarter. Goldman Sachs Group Inc. now owns 1,359,398 shares of the software maker’s stock worth $123,325,000 after purchasing an additional 52,207 shares during the period. Institutional investors own 4.95% of the company’s stock.
SAP Price Performance
Shares of SAP stock opened at $135.50 on Thursday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average price is $135.36 and its two-hundred day moving average price is $128.23. SAP SE has a 52 week low of $78.22 and a 52 week high of $145.10. The stock has a market cap of $159.83 billion, a PE ratio of 29.52, a price-to-earnings-growth ratio of 2.25 and a beta of 1.18.
SAP Cuts Dividend
The firm also recently declared an annual dividend, which was paid on Monday, May 22nd. Shareholders of record on Monday, May 15th were given a $2.1864 dividend. This represents a yield of 1.3%. The ex-dividend date was Friday, May 12th. SAP’s dividend payout ratio (DPR) is presently 35.08%.
Wall Street Analyst Weigh In
SAP has been the subject of a number of research reports. Sanford C. Bernstein lifted their price objective on shares of SAP from $169.00 to $176.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Jefferies Financial Group raised shares of SAP from an “underperform” rating to a “hold” rating in a report on Thursday, June 22nd. Oppenheimer reaffirmed a “market perform” rating on shares of SAP in a report on Friday, July 21st. Barclays decreased their price objective on shares of SAP from $146.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, July 21st. Finally, BMO Capital Markets lifted their price objective on shares of SAP from $125.00 to $140.00 in a report on Monday, April 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $132.50.
View Our Latest Research Report on SAP
About SAP
SAP SE, together with its subsidiaries, provides enterprise application software products worldwide. The company operates through Applications, Technology & Services; Qualtrics; Business Network; and Sustainability segments. It offers SAP S/4HANA that offers 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; spend management solutions that covers direct and indirect spend, travel and expense, and external workforce management.
Featured Stories
Want to see what other hedge funds are holding SAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SAP SE (NYSE:SAP – Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider SAP, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and SAP wasn’t on the list.
While SAP currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.
Source: marketbeat.com
