Westfield Capital Management Co. LP Cuts Stock Holdings in SAP SE (NYSE:SAP)

Westfield Capital Management Co. LP trimmed its position in shares of SAP SE (NYSE:SAP) by 2.6% during the third quarter, Holdings Channel.com reports. The fund owned 653,928 shares of the software maker’s stock after selling 17,204 shares during the quarter. Westfield Capital Management Co. LP’s holdings in SAP were worth $149,815,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Godsey & Gibb Inc. purchased a new position in shares of SAP in the 3rd quarter worth about $25,000. LRI Investments LLC purchased a new position in shares of SAP in the 1st quarter worth about $25,000. POM Investment Strategies LLC lifted its holdings in SAP by 892.3% during the second quarter. POM Investment Strategies LLC now owns 129 shares of the software maker’s stock valued at $26,000 after purchasing an additional 116 shares during the last quarter. Crewe Advisors LLC lifted its holdings in SAP by 1,270.0% during the second quarter. Crewe Advisors LLC now owns 137 shares of the software maker’s stock valued at $28,000 after purchasing an additional 127 shares during the last quarter. Finally, Atticus Wealth Management LLC purchased a new stake in SAP during the second quarter valued at about $40,000.

Analyst Ratings Changes

SAP has been the topic of several recent research reports. BMO Capital Markets upped their price objective on shares of SAP from $248.00 to $265.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. JMP Securities upped their price objective on shares of SAP from $245.00 to $300.00 and gave the company a “market outperform” rating in a report on Tuesday, October 22nd. Barclays upped their price objective on shares of SAP from $252.00 to $275.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Argus upgraded SAP from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Finally, TD Cowen upped their price target on SAP from $234.00 to $240.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $252.33.

SAP Stock Performance

Shares of SAP stock opened at $236.25 on Friday. The company’s fifty day moving average price is $230.65 and its 200-day moving average price is $212.23. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.17. The stock has a market cap of $290.23 billion, a PE ratio of 94.50, a price-to-earnings-growth ratio of 4.53 and a beta of 1.25. SAP SE has a 12 month low of $148.38 and a 12 month high of $243.01.

SAP (NYSE:SAP) last posted its quarterly earnings results on Monday, October 21st. The software maker reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($0.08). SAP had a return on equity of 11.44% and a net margin of 8.15%. The company had revenue of $8.47 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the prior year, the firm earned $1.20 EPS. SAP’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities analysts expect that SAP SE will post 4.89 EPS for the current fiscal year.

About SAP

SAP SE, together with its subsidiaries, provides applications, technology, and services worldwide. It offers SAP S/4HANA that provides 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; and spend management solutions that covers direct and indirect spend, travel and expense, and external workforce management.