First Trust Advisors LP lowered its stake in SAP SE (NYSE:SAP) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 393,737 shares of the software maker’s stock after selling 12,497 shares during the period. First Trust Advisors LP’s holdings in SAP SE were worth $41,212,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of SAP. Bank of America Corp DE increased its stake in SAP SE by 37.3% in the first quarter. Bank of America Corp DE now owns 2,565,236 shares of the software maker’s stock worth $251,830,000 after buying an additional 696,447 shares during the period. Strategic Global Advisors LLC increased its stake in SAP SE by 6.5% in the first quarter. Strategic Global Advisors LLC now owns 3,456 shares of the software maker’s stock worth $339,000 after buying an additional 212 shares during the period. Abbrea Capital LLC increased its stake in SAP SE by 17.0% in the first quarter. Abbrea Capital LLC now owns 7,760 shares of the software maker’s stock worth $762,000 after buying an additional 1,125 shares during the period. Marshall Wace North America L.P. purchased a new stake in SAP SE during the first quarter worth $2,053,000. Finally, Stephens Inc. AR purchased a new stake in SAP SE during the first quarter worth $384,000. Institutional investors and hedge funds own 3.71% of the company’s stock.
SAP SE (NYSE SAP) opened at 104.46 on Monday. SAP SE has a 12-month low of $80.93 and a 12-month high of $108.72. The stock has a market capitalization of $125.24 billion, a PE ratio of 30.81 and a beta of 1.12. The stock’s 50 day moving average is $105.15 and its 200 day moving average is $100.42.
SAP SE announced that its Board of Directors has approved a share repurchase program on Thursday, July 20th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the software maker to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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A number of research firms have weighed in on SAP. BidaskClub downgraded SAP SE from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research downgraded SAP SE from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. BMO Capital Markets upped their target price on SAP SE from $105.00 to $110.00 and gave the stock a “market perform” rating in a research report on Friday, July 21st. DZ Bank AG restated a “buy” rating on shares of SAP SE in a research report on Thursday, July 20th. Finally, Royal Bank Of Canada upped their target price on SAP SE from $102.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $95.69.
SAP SE Company Profile
SAP SE (SAP) is a software and service provider. The Company offers enterprise application software. The Company operates through two segments: Applications, Technology & Services segment, and the SAP Business Network segment. The Applications, Technology & Services segment is engaged in the sale of software licenses, subscriptions to its cloud applications, and related services (primarily support services and various professional services, and support services, as well as implementation services of its software products and education services on the use of its products).
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