Cohen Klingenstein LLC Sells 2,077 Shares of SAP SE (NYSE:SAP)

Cohen Klingenstein LLC trimmed its holdings in shares of SAP SE (NYSE:SAP - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Several other hedge funds also recently modified their holdings of the stock. American Century Companies Inc. raised its position in SAP by 5.6% during the second quarter. American Century Companies Inc. now owns 76,077 shares of the software maker's stock worth $15,346,000 after acquiring an additional 4,037 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of SAP by 0.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 129,213 shares of the software maker's stock valued at $26,064,000 after buying an additional 773 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of SAP by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 45,770 shares of the software maker's stock worth $9,232,000 after acquiring an additional 1,158 shares during the last quarter. Virtu Financial LLC bought a new stake in SAP in the 2nd quarter valued at $755,000. Finally, Mercer Global Advisors Inc. ADV lifted its stake in shares of SAP by 3.5% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 63,557 shares of the software maker's stock worth $12,820,000 after buying an additional 2,150 shares during the last quarter.

Wall Street Analyst Weigh In

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

SAP Price Performance

NYSE:SAP traded up $1.16 during trading hours on Friday, hitting $262.74. The company's stock had a trading volume of 799,030 shares, compared to its average volume of 846,095. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market capitalization of $322.77 billion, a P/E ratio of 105.09, a PEG ratio of 3.56 and a beta of 1.22. SAP SE has a twelve month low of $158.94 and a twelve month high of $264.71. The stock has a fifty day simple moving average of $245.68 and a 200-day simple moving average of $228.12.

SAP (NYSE:SAP - Get Free Report) last released its quarterly earnings data on Monday, October 21st. The software maker reported $1.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.31 by ($0.08). The company had revenue of $8.47 billion for the quarter, compared to analyst estimates of $9.25 billion. SAP had a return on equity of 11.44% and a net margin of 8.15%. SAP's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 earnings per share. On average, analysts anticipate that SAP SE will post 4.66 EPS for the current fiscal year.

SAP Company Profile

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.