SAP SE (NYSE:SAP) Shares Sold by Balentine LLC

Balentine LLC lessened its holdings in shares of SAP SE (NYSE:SAP) by 62.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,275 shares of the software maker’s stock after selling 2,093 shares during the quarter. Balentine LLC’s holdings in SAP were worth $257,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. LRI Investments LLC acquired a new stake in SAP in the first quarter valued at approximately $25,000. Northwest Investment Counselors LLC acquired a new stake in SAP in the first quarter valued at approximately $25,000. POM Investment Strategies LLC raised its holdings in SAP by 892.3% in the second quarter. POM Investment Strategies LLC now owns 129 shares of the software maker’s stock valued at $26,000 after acquiring an additional 116 shares in the last quarter. Crewe Advisors LLC raised its holdings in SAP by 1,270.0% in the second quarter. Crewe Advisors LLC now owns 137 shares of the software maker’s stock valued at $28,000 after acquiring an additional 127 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in SAP in the first quarter valued at approximately $29,000.

SAP Price Performance

Shares of NYSE SAP opened at $213.98 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a fifty day moving average price of $209.22 and a 200 day moving average price of $196.56. SAP SE has a 1-year low of $126.75 and a 1-year high of $221.24.

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, topping the consensus estimate of $1.01 by $0.09. SAP had a return on equity of 10.98% and a net margin of 7.74%. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.25 billion. During the same period last year, the company earned $0.71 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, research analysts anticipate that SAP SE will post 4.83 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. TD Cowen raised their target price on shares of SAP from $188.00 to $214.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. Argus upgraded shares of SAP from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. JMP Securities increased their price target on shares of SAP from $220.00 to $245.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 23rd. BMO Capital Markets increased their price target on shares of SAP from $237.00 to $248.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Finally, Sanford C. Bernstein began coverage on shares of SAP in a research note on Thursday, May 23rd. They issued an “outperform” rating and a $227.00 price target on the stock. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.00.

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.