PNC Financial Services Group Inc. Has $19.76 Million Stock Holdings in SAP SE (NYSE:SAP)

PNC Financial Services Group Inc. decreased its position in shares of SAP SE (NYSE:SAP) by 2.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,228 shares of the software maker’s stock after selling 2,476 shares during the period. PNC Financial Services Group Inc.’s holdings in SAP were worth $19,755,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. OneAscent Financial Services LLC bought a new stake in SAP during the third quarter worth approximately $346,000. Caprock Group LLC boosted its holdings in shares of SAP by 5.7% during the 3rd quarter. Caprock Group LLC now owns 15,323 shares of the software maker’s stock worth $3,511,000 after buying an additional 830 shares during the period. Drive Wealth Management LLC grew its stake in SAP by 2.9% in the 3rd quarter. Drive Wealth Management LLC now owns 2,172 shares of the software maker’s stock valued at $498,000 after buying an additional 61 shares during the last quarter. Holistic Financial Partners acquired a new position in SAP during the 3rd quarter worth $203,000. Finally, LMR Partners LLP bought a new stake in SAP during the third quarter valued at about $6,873,000.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. JMP Securities boosted their price objective on SAP from $245.00 to $300.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 22nd. Barclays increased their price objective on SAP from $252.00 to $275.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. BMO Capital Markets boosted their target price on shares of SAP from $248.00 to $265.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. TD Cowen raised their price target on shares of SAP from $234.00 to $240.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, Argus upgraded shares of SAP from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. One 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, SAP currently has an average rating of “Moderate Buy” and an average price target of $252.33.

SAP Price Performance

Shares of SAP stock opened at $235.90 on Friday. The stock’s fifty day simple moving average is $230.35 and its 200 day simple moving average is $211.71. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.10 and a quick ratio of 1.10. SAP SE has a one year low of $148.38 and a one year high of $243.01. The firm has a market cap of $289.80 billion, a price-to-earnings ratio of 94.36, a P/E/G ratio of 4.50 and a beta of 1.25.

SAP (NYSE:SAP) last posted its quarterly earnings data on Monday, October 21st. The software maker reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.08). The company had revenue of $8.47 billion during the quarter, compared to the consensus estimate of $9.25 billion. SAP had a return on equity of 11.44% and a net margin of 8.15%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.20 EPS. On average, analysts expect that SAP SE will post 4.85 earnings per share for the current fiscal 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.