OLD National Bancorp IN lifted its stake in SAP SE (NYSE:SAP – Free Report) by 17.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,585 shares of the software maker’s stock after purchasing an additional 665 shares during the quarter. OLD National Bancorp IN’s holdings in SAP were worth $580,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the business. First Horizon Advisors Inc. lifted its position in SAP by 11.1% during the 4th quarter. First Horizon Advisors Inc. now owns 933 shares of the software maker’s stock worth $96,000 after acquiring an additional 93 shares in the last quarter. Montag A & Associates Inc. boosted its position in SAP by 22.9% during the 4th quarter. Montag A & Associates Inc. now owns 504 shares of the software maker’s stock worth $52,000 after acquiring an additional 94 shares during the period. Abbrea Capital LLC boosted its position in SAP by 1.6% during the 4th quarter. Abbrea Capital LLC now owns 6,496 shares of the software maker’s stock worth $670,000 after acquiring an additional 100 shares during the period. FinTrust Capital Advisors LLC lifted its holdings in shares of SAP by 130.8% in the fourth quarter. FinTrust Capital Advisors LLC now owns 240 shares of the software maker’s stock valued at $25,000 after buying an additional 136 shares during the period. Finally, CENTRAL TRUST Co lifted its holdings in shares of 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 purchasing an additional 160 shares during the last quarter. 4.95% of the stock is owned by hedge funds and other institutional investors.
SAP Stock Down 1.7 %
NYSE:SAP opened at $134.55 on Tuesday. SAP SE has a 12-month low of $78.22 and a 12-month high of $139.25. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $158.71 billion, a P/E ratio of 75.17, a P/E/G ratio of 2.24 and a beta of 1.18. The stock’s fifty day simple moving average is $133.61 and its 200-day simple moving average is $123.12.
SAP Cuts Dividend
The firm also recently announced an annual dividend, which was paid on Monday, May 22nd. Shareholders of record on Monday, May 15th were issued a dividend of $2.1864 per share. The ex-dividend date was Friday, May 12th. This represents a yield of 1.3%. SAP’s dividend payout ratio is presently 89.94%.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on SAP shares. StockNews.com started coverage on SAP in a research report on Thursday, May 18th. They set a “strong-buy” rating on the stock. Barclays increased their target price on SAP from $134.00 to $136.00 in a research note on Monday, April 24th. Jefferies Financial Group upgraded SAP from an “underperform” rating to a “hold” rating in a research note on Thursday, June 22nd. BMO Capital Markets raised their price objective on SAP from $125.00 to $140.00 in a research report on Monday, April 24th. Finally, TheStreet cut SAP from a “b” rating to a “c+” rating in a report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, SAP has an average rating of “Moderate Buy” and an average price target of $128.23.
About SAP
SAP SE, together with its subsidiaries, provides enterprise application software products worldwide. The company operates through Applications, Technology & Services; Qualtrics; Business Network; and Sustainability segments. It offers SAP S/4HANA that offers 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; spend management solutions that covers direct and indirect spend, travel and expense, and external workforce management.
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