Lazard Asset Management LLC Has $162,000 Stake in SAP SE (NYSE:SAP)

Lazard Asset Management LLC reduced its holdings in SAP SE (NYSE:SAPGet Rating) by 15.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,791 shares of the software maker’s stock after selling 338 shares during the quarter. Lazard Asset Management LLC’s holdings in SAP were worth $162,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its position in shares of SAP by 650.0% in the second quarter. Geneos Wealth Management Inc. now owns 300 shares of the software maker’s stock valued at $27,000 after purchasing an additional 260 shares during the last quarter. Allworth Financial LP grew its position in shares of SAP by 108.0% in the second quarter. Allworth Financial LP now owns 312 shares of the software maker’s stock valued at $28,000 after purchasing an additional 162 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of SAP by 77.0% in the second quarter. EverSource Wealth Advisors LLC now owns 354 shares of the software maker’s stock valued at $32,000 after purchasing an additional 154 shares during the last quarter. Selective Wealth Management Inc. grew its position in shares of SAP by 656.7% in the second quarter. Selective Wealth Management Inc. now owns 507 shares of the software maker’s stock valued at $46,000 after purchasing an additional 440 shares during the last quarter. Finally, JFS Wealth Advisors LLC grew its position in shares of SAP by 918.9% in the second quarter. JFS Wealth Advisors LLC now owns 754 shares of the software maker’s stock valued at $68,000 after purchasing an additional 680 shares during the last quarter. 5.20% of the stock is owned by institutional investors and hedge funds.

SAP Stock Performance

NYSE:SAP opened at $108.50 on Tuesday. SAP SE has a 1 year low of $78.22 and a 1 year high of $141.68. The firm has a 50 day moving average of $91.33 and a 200-day moving average of $92.30. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $127.98 billion, a P/E ratio of 36.17, a price-to-earnings-growth ratio of 6.96 and a beta of 1.10.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SAP shares. Barclays raised SAP from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $106.00 to $136.00 in a research report on Monday. Morgan Stanley decreased their target price on SAP from €122.00 ($124.49) to €115.00 ($117.35) and set an “overweight” rating on the stock in a research report on Friday, October 14th. Cowen decreased their target price on SAP from $107.00 to $106.00 in a research report on Wednesday, October 26th. Cowen decreased their target price on SAP from $107.00 to $106.00 in a research report on Wednesday, October 26th. Finally, Jefferies Financial Group downgraded SAP from a “buy” rating to an “underperform” rating in a research report on Thursday, November 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, SAP has an average rating of “Hold” and an average price target of $110.07.

SAP Profile

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SAP SE, together with its subsidiaries, operates as an enterprise application software company worldwide. The company operates through three segments: Applications, Technology & Support; Qualtrics; and Services. It offers SAP S/4HANA, an ERP suite with intelligent technologies, such as artificial intelligence, machine learning, and advanced analytics; SAP SuccessFactors Human Experience Management provides cloud-based solutions, such as a human resources management system for core HR and payroll, talent management, employee experience management, and people analytics; and intelligent spend management solutions, including products branded under the SAP Ariba, SAP Concur, and SAP Fieldglass names.

Further Reading

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Institutional Ownership by Quarter for SAP (NYSE:SAP)

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