Citigroup Inc. Has $17.26 Million Holdings in SAP SE (NYSE:SAP)

Citigroup Inc. trimmed its holdings in SAP SE (NYSE:SAP) by 54.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,330 shares of the software maker’s stock after selling 91,162 shares during the period. Citigroup Inc.’s holdings in SAP were worth $17,258,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Godsey & Gibb Inc. bought a new position in SAP during the third quarter worth $25,000. LRI Investments LLC bought a new stake in shares of SAP during the 1st quarter worth about $25,000. POM Investment Strategies LLC raised its holdings in SAP by 892.3% in the 2nd quarter. POM Investment Strategies LLC now owns 129 shares of the software maker’s stock valued at $26,000 after acquiring an additional 116 shares during the period. Crewe Advisors LLC lifted its position in SAP by 1,270.0% during the second quarter. Crewe Advisors LLC now owns 137 shares of the software maker’s stock worth $28,000 after acquiring an additional 127 shares during the last quarter. Finally, Atticus Wealth Management LLC acquired a new stake in SAP during the second quarter worth approximately $40,000.

SAP Price Performance

SAP stock opened at $232.20 on Thursday. The company’s 50-day moving average price is $231.31 and its two-hundred day moving average price is $213.13. SAP SE has a 12 month low of $148.38 and a 12 month high of $243.01. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.17. The firm has a market cap of $285.26 billion, a P/E ratio of 92.88, a P/E/G ratio of 4.49 and a beta of 1.25.

SAP (NYSE:SAP) last released its earnings results 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). SAP had a return on equity of 11.44% and a net margin of 8.15%. The business had revenue of $8.47 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter in the previous year, the company earned $1.20 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts anticipate that SAP SE will post 4.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SAP. BMO Capital Markets increased their target price on SAP from $248.00 to $265.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. TD Cowen lifted their target price on SAP from $234.00 to $240.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Barclays upped their price target on shares of SAP from $252.00 to $275.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Argus raised shares of SAP from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Finally, JMP Securities increased their target price on shares of SAP from $245.00 to $300.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $252.33.

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.