Ritholtz Wealth Management Boosts Stake in SAP SE (NYSE:SAP)

Posted by on Mar 27th, 2023

Ritholtz Wealth Management lifted its holdings in SAP SE (NYSE:SAP – Get Rating) by 98.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,529 shares of the software maker’s stock after purchasing an additional 5,713 shares during the quarter. Ritholtz Wealth Management’s holdings in SAP were worth $1,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Eagle Bay Advisors LLC purchased a new position in shares of SAP in the second quarter worth $25,000. Addenda Capital Inc. purchased a new position in shares of SAP in the fourth quarter worth $33,000. Cambridge Trust Co. raised its stake in shares of SAP by 120.0% in the third quarter. Cambridge Trust Co. now owns 341 shares of the software maker’s stock worth $28,000 after purchasing an additional 186 shares during the last quarter. CENTRAL TRUST Co increased its position in SAP by 72.7% during the third quarter. CENTRAL TRUST Co now owns 380 shares of the software maker’s stock valued at $31,000 after acquiring an additional 160 shares during the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new stake in SAP during the third quarter valued at $31,000. Hedge funds and other institutional investors own 5.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on SAP. Barclays upped their price objective on SAP from $136.00 to $137.00 and gave the company an “overweight” rating in a research report on Wednesday, March 8th. BNP Paribas upgraded SAP from a “neutral” rating to an “outperform” rating and set a $143.00 price objective for the company in a research report on Friday, March 17th. Oddo Bhf cut SAP from a “neutral” rating to an “underperform” rating in a research report on Tuesday, December 6th. Stifel Nicolaus upped their price objective on SAP from €130.00 ($139.78) to €135.00 ($145.16) and gave the company a “buy” rating in a research report on Friday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on SAP from €115.00 ($123.66) to €120.00 ($129.03) and gave the company a “buy” rating in a research report on Thursday, January 12th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $119.00.

SAP Stock Performance

NYSE SAP opened at $123.29 on Monday. The firm has a market cap of $145.43 billion, a price-to-earnings ratio of 59.85, a price-to-earnings-growth ratio of 2.25 and a beta of 1.17. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $117.68 and a 200-day moving average price of $105.08. SAP SE has a twelve month low of $78.22 and a twelve month high of $125.28.

SAP Cuts Dividend

The firm also recently disclosed an annual dividend, which will be paid on Monday, May 22nd. Stockholders of record on Monday, May 15th will be paid a $2.1864 dividend. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, May 12th. SAP’s dividend payout ratio (DPR) is 99.52%.

SAP Profile

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SAP SE engages in the provision of enterprise application software and software-related services. It operates through the following segments: Applications, Technology, and Support; Qualtrics; and Services. The Applications, Technology, and Services segment includes sale of software licenses, support offerings, and cloud subscriptions.

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Institutional Ownership by Quarter for SAP (NYSE:SAP)

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