Rehmann Capital Advisory Group reduced its position in SAP SE (NYSE:SAP) by 5.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,529 shares of the software maker’s stock after selling 188 shares during the period. Rehmann Capital Advisory Group’s holdings in SAP SE were worth $369,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of America Corp DE increased its position 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 last quarter. Strategic Global Advisors LLC increased its position 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 last quarter. Abbrea Capital LLC increased its position 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 last quarter. Marshall Wace North America L.P. acquired a new position in SAP SE during the first quarter worth about $2,053,000. Finally, Stephens Inc. AR acquired a new position in SAP SE during the first quarter worth about $384,000. Institutional investors own 3.77% of the company’s stock.
SAP SE (NYSE:SAP) traded up 0.63% during trading on Friday, reaching $104.46. 573,711 shares of the company’s stock traded hands. The company has a market capitalization of $125.24 billion, a price-to-earnings ratio of 30.81 and a beta of 1.12. SAP SE has a 12 month low of $80.93 and a 12 month high of $108.72. The firm’s 50 day moving average is $105.15 and its 200-day moving average is $100.42.
SAP SE declared that its Board of Directors has initiated a stock buyback program on Thursday, July 20th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the software maker to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
SAP has been the topic of a number of recent research reports. Cowen and Company restated an “outperform” rating and issued a $110.00 price target (up from $105.00) on shares of SAP SE in a research report on Saturday, April 29th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of SAP SE in a research report on Monday, June 26th. Royal Bank Of Canada raised their price target on shares of SAP SE from $102.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 18th. CIBC raised their price target on shares of SAP SE from $107.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, June 12th. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $115.00 price objective (up from $107.00) on shares of SAP SE in a research report on Friday, June 9th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. SAP SE currently has an average rating of “Buy” and a consensus target price of $95.69.
About SAP SE
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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