Prosperity Consulting Group LLC Sells 3,216 Shares of SAP SE (NYSE:SAP)

Prosperity Consulting Group LLC lowered its position in SAP SE (NYSE:SAP) by 9.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,352 shares of the software maker’s stock after selling 3,216 shares during the period. SAP comprises 0.9% of Prosperity Consulting Group LLC’s holdings, making the stock its 23rd largest position. Prosperity Consulting Group LLC’s holdings in SAP were worth $6,324,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SAP. Oppenheimer Asset Management Inc. grew its stake in SAP by 5.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 88,522 shares of the software maker’s stock valued at $17,856,000 after acquiring an additional 4,765 shares during the period. William Blair Investment Management LLC grew its position in shares of SAP by 1,694.5% in the 2nd quarter. William Blair Investment Management LLC now owns 20,368 shares of the software maker’s stock valued at $4,108,000 after purchasing an additional 19,233 shares during the period. Parallel Advisors LLC increased its stake in SAP by 6.5% during the 2nd quarter. Parallel Advisors LLC now owns 5,227 shares of the software maker’s stock worth $1,054,000 after purchasing an additional 321 shares in the last quarter. American Century Companies Inc. lifted its stake in SAP by 5.6% in the second quarter. American Century Companies Inc. now owns 76,077 shares of the software maker’s stock valued at $15,346,000 after buying an additional 4,037 shares in the last quarter. Finally, Angeles Wealth Management LLC lifted its stake in SAP by 3.5% in the second quarter. Angeles Wealth Management LLC now owns 1,856 shares of the software maker’s stock valued at $374,000 after buying an additional 62 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. BMO Capital Markets raised their price objective on shares of SAP from $237.00 to $248.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Argus upgraded SAP from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. JMP Securities boosted their target price on SAP from $220.00 to $245.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 23rd. Barclays increased their target price on shares of SAP from $217.00 to $251.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Finally, Sanford C. Bernstein initiated coverage on shares of SAP in a research report on Thursday, May 23rd. They set an “outperform” rating and a $227.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $232.00.

SAP Trading Up 0.1 %

Shares of SAP stock opened at $221.31 on Friday. The company has a fifty day moving average price of $210.48 and a two-hundred day moving average price of $197.32. SAP SE has a one year low of $126.75 and a one year high of $222.65. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17.

SAP (NYSE:SAP) last issued its earnings results on Monday, July 22nd. The software maker reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.09. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.25 billion. SAP had a net margin of 7.74% and a return on equity of 10.98%. SAP’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the business posted $0.71 EPS. On average, research analysts anticipate that SAP SE will post 4.83 earnings per share for the current 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.