Bank of Nova Scotia Sells 3,882 Shares of SAP SE $SAP

Bank of Nova Scotia cut its holdings in SAP SE (NYSE:SAP) by 73.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,379 shares of the software maker’s stock after selling 3,882 shares during the quarter. Bank of Nova Scotia’s holdings in SAP were worth $236,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Dara Capital US Inc. bought a new position in shares of SAP in the 4th quarter worth about $3,342,000. Dash Acquisitions Inc. raised its stake in SAP by 8.7% during the fourth quarter. Dash Acquisitions Inc. now owns 78,880 shares of the software maker’s stock worth $19,161,000 after acquiring an additional 6,315 shares during the period. Sequoia Financial Advisors LLC raised its stake in SAP by 59.7% during the first quarter. Sequoia Financial Advisors LLC now owns 18,091 shares of the software maker’s stock worth $3,097,000 after acquiring an additional 6,763 shares during the period. Rock Point Advisors LLC lifted its holdings in SAP by 66.5% in the fourth quarter. Rock Point Advisors LLC now owns 33,569 shares of the software maker’s stock worth $8,154,000 after acquiring an additional 13,413 shares during the last quarter. Finally, Sterling Investment Management LLC bought a new position in SAP in the fourth quarter worth about $1,512,000.

Analyst Ratings Changes

Several research firms have recently commented on SAP. Barclays lowered their target price on SAP from $255.00 to $242.00 and set an “overweight” rating for the company in a report on Monday, July 27th. Oppenheimer restated a “market perform” rating on shares of SAP in a research report on Friday, July 24th. Santander upgraded SAP from a “neutral” rating to an “outperform” rating in a research note on Friday, April 24th. Weiss Ratings lowered SAP from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, July 16th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $265.00 target price on shares of SAP in a research note on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $264.83.

SAP Stock Performance

Shares of NYSE SAP opened at $183.92 on Friday. SAP SE has a 12-month low of $144.97 and a 12-month high of $299.48. The company has a market cap of $225.94 billion, a PE ratio of 23.11, a P/E/G ratio of 2.14 and a beta of 1.14. The stock has a 50 day simple moving average of $165.92 and a 200-day simple moving average of $182.28. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.19.

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.