Oppenheimer Asset Management Inc. Sells 19,152 Shares of SAP SE (NYSE:SAP)

Oppenheimer Asset Management Inc. cut its holdings in shares of SAP SE (NYSE:SAP - Free Report) by 21.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,370 shares of the software maker's stock after selling 19,152 shares during the period. Oppenheimer Asset Management Inc.'s holdings in SAP were worth $15,893,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SAP. Concurrent Investment Advisors LLC acquired a new position in SAP during the 1st quarter worth approximately $215,000. Russell Investments Group Ltd. raised its stake in shares of SAP by 19.4% during the 1st quarter. Russell Investments Group Ltd. now owns 143,887 shares of the software maker's stock worth $28,062,000 after buying an additional 23,353 shares during the last quarter. Avantax Advisory Services Inc. purchased a new stake in shares of SAP in the 1st quarter worth about $270,000. Blair William & Co. IL acquired a new stake in SAP in the 1st quarter valued at about $247,000. Finally, Dorsey & Whitney Trust CO LLC raised its position in SAP by 5.2% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 10,410 shares of the software maker's stock worth $2,030,000 after acquiring an additional 519 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SAP. BMO Capital Markets boosted their price objective on shares of SAP from $248.00 to $265.00 and gave the company an "outperform" rating in a research report on Tuesday, October 22nd. Barclays increased their price target on shares of SAP from $252.00 to $275.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Argus raised shares of SAP from a "hold" rating to a "buy" rating in a research note on Wednesday, July 31st. JMP Securities increased their target price on SAP from $245.00 to $300.00 and gave the stock a "market outperform" rating in a research report on Tuesday, October 22nd. Finally, TD Cowen upped their price target on SAP from $234.00 to $240.00 and gave the stock a "hold" rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, SAP has an average rating of "Moderate Buy" and a consensus price target of $252.33.

SAP Trading Up 0.6 %

NYSE SAP traded up $1.40 on Thursday, hitting $231.40. 825,396 shares of the company were exchanged, compared to its average volume of 804,013. SAP SE has a twelve month low of $147.60 and a twelve month high of $243.01. The company's 50 day moving average price is $228.25 and its 200-day moving average price is $209.79. The firm has a market capitalization of $284.27 billion, a P/E ratio of 93.00, a price-to-earnings-growth ratio of 4.49 and a beta of 1.25. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.10 and a quick ratio of 1.10.

SAP (NYSE:SAP - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to analysts' expectations 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 period last year, the company earned $1.20 earnings per share. Analysts predict that SAP SE will post 4.9 earnings per share for the current fiscal year.

SAP 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.