Bank of New York Mellon Corp Sells 4,322 Shares of SAP SE (NYSE:SAP)

Bank of New York Mellon Corp trimmed its position in shares of SAP SE (NYSE:SAP – Get Rating) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 403,608 shares of the software maker’s stock after selling 4,322 shares during the period. Bank of New York Mellon Corp’s holdings in SAP were worth $32,794,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Exencial Wealth Advisors LLC boosted its stake in SAP by 1.0% during the 3rd quarter. Exencial Wealth Advisors LLC now owns 11,757 shares of the software maker’s stock valued at $955,000 after purchasing an additional 114 shares during the period. SRS Capital Advisors Inc. boosted its position in shares of SAP by 14.4% in the third quarter. SRS Capital Advisors Inc. now owns 994 shares of the software maker’s stock valued at $81,000 after acquiring an additional 125 shares during the period. Institute for Wealth Management LLC. grew its stake in shares of SAP by 5.2% in the third quarter. Institute for Wealth Management LLC. now owns 2,765 shares of the software maker’s stock worth $225,000 after acquiring an additional 136 shares during the last quarter. IFP Advisors Inc increased its position in SAP by 7.7% during the third quarter. IFP Advisors Inc now owns 1,997 shares of the software maker’s stock worth $159,000 after acquiring an additional 142 shares during the period. Finally, Brown Brothers Harriman & Co. raised its stake in SAP by 9.2% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 1,805 shares of the software maker’s stock valued at $164,000 after purchasing an additional 152 shares during the last quarter. 5.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SAP. Stifel Nicolaus boosted their price objective on shares of SAP from €130.00 ($139.78) to €135.00 ($145.16) and gave the stock a “buy” rating in a report on Friday, December 2nd. StockNews.com cut SAP from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 22nd. BMO Capital Markets lifted their price objective on SAP from $110.00 to $125.00 and gave the stock a “market perform” rating in a report on Friday, January 27th. Barclays upped their target price on SAP from $136.00 to $137.00 and gave the company an “overweight” rating in a research note on Wednesday, March 8th. Finally, Jefferies Financial Group downgraded shares of SAP from a “buy” rating to an “underperform” rating in a research note on Thursday, November 17th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $114.13.

SAP Stock Performance

Shares of SAP stock opened at $115.03 on Tuesday. The firm has a 50 day simple moving average of $115.92 and a 200 day simple moving average of $102.77. SAP SE has a fifty-two week low of $78.22 and a fifty-two week high of $123.28. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market cap of $135.69 billion, a P/E ratio of 55.84, a P/E/G ratio of 2.11 and a beta of 1.17.

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.