CIBC Asset Management Inc Sells 3,320 Shares of SAP SE $SAP

CIBC Asset Management Inc cut its stake in shares of SAP SE (NYSE:SAP) by 8.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,072 shares of the software maker’s stock after selling 3,320 shares during the quarter. CIBC Asset Management Inc’s holdings in SAP were worth $9,906,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of SAP. First PREMIER Bank bought a new stake in SAP during the 3rd quarter valued at $25,000. Retirement Wealth Solutions LLC grew its position in shares of SAP by 246.4% during the 3rd quarter. Retirement Wealth Solutions LLC now owns 97 shares of the software maker’s stock worth $26,000 after buying an additional 69 shares in the last quarter. Vermillion Wealth Management Inc. purchased a new position in shares of SAP during the second quarter valued at $31,000. Albion Financial Group UT raised its holdings in shares of SAP by 56.8% in the third quarter. Albion Financial Group UT now owns 127 shares of the software maker’s stock valued at $34,000 after acquiring an additional 46 shares in the last quarter. Finally, True Wealth Design LLC lifted its stake in SAP by 424.0% in the third quarter. True Wealth Design LLC now owns 131 shares of the software maker’s stock worth $35,000 after acquiring an additional 106 shares during the period.

Analysts Set New Price Targets

A number of research firms have commented on SAP. Barclays raised their target price on shares of SAP from $322.00 to $348.00 and gave the company an “overweight” rating in a research report on Friday, October 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of SAP in a research note on Friday, October 31st. BMO Capital Markets dropped their target price on SAP from $330.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday, October 23rd. TD Cowen reiterated a “buy” rating on shares of SAP in a report on Thursday, October 23rd. Finally, JMP Securities reissued a “market outperform” rating and issued a $375.00 price target on shares of SAP in a research report on Thursday, October 23rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $280.20.

SAP Price Performance

Shares of NYSE SAP opened at $239.65 on Tuesday. SAP SE has a fifty-two week low of $220.89 and a fifty-two week high of $313.28. The company has a market cap of $283.87 billion, a PE ratio of 35.88, a P/E/G ratio of 2.75 and a beta of 1.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.10 and a current ratio of 1.11. The business has a 50-day simple moving average of $240.92 and a two-hundred day simple moving average of $262.00.

SAP Company Profile

SAP SE is a global enterprise software company headquartered in Walldorf, Germany. Founded in 1972 by five former IBM engineers, the company’s name is an acronym for Systeme, Anwendungen und Produkte in der Datenverarbeitung (Systems, Applications & Products in Data Processing). SAP develops and sells software and services that help organizations manage business processes across finance, human resources, procurement, manufacturing, supply chain and customer relationships.

SAP’s product portfolio spans on‑premises and cloud offerings, anchored by its enterprise resource planning (ERP) solutions such as SAP S/4HANA and the SAP HANA in‑memory database and platform.