Peapack Gladstone Financial Corp Has $658,000 Stock Holdings in SAP SE (NYSE:SAP)

Peapack Gladstone Financial Corp cut its stake in SAP SE (NYSE:SAP) by 18.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,873 shares of the software maker’s stock after selling 644 shares during the period. Peapack Gladstone Financial Corp’s holdings in SAP were worth $658,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SAP. FMR LLC grew its position in SAP by 22.3% in the third quarter. FMR LLC now owns 10,246,279 shares of the software maker’s stock valued at $2,347,422,000 after acquiring an additional 1,866,468 shares during the period. International Assets Investment Management LLC bought a new position in shares of SAP during the third quarter valued at $40,573,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of SAP by 644.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 164,330 shares of the software maker’s stock valued at $37,648,000 after purchasing an additional 142,270 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of SAP in the 2nd quarter worth about $21,479,000. Finally, Hantz Financial Services Inc. acquired a new stake in shares of SAP during the 2nd quarter worth about $20,532,000.

Analyst Ratings Changes

A number of research firms have commented on SAP. JMP Securities boosted their price target on shares of SAP from $245.00 to $300.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 22nd. Barclays increased their price target on SAP from $252.00 to $275.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. BMO Capital Markets lifted their price objective on SAP from $248.00 to $265.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Finally, TD Cowen increased their target price on SAP from $234.00 to $240.00 and gave the stock a “hold” rating in a 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.33.

SAP Trading Down 0.1 %

SAP stock opened at $253.30 on Monday. The business has a fifty day moving average of $236.50 and a 200-day moving average of $217.95. The company has a market cap of $311.18 billion, a P/E ratio of 101.32, a PEG ratio of 4.94 and a beta of 1.23. SAP SE has a twelve month low of $148.38 and a twelve month high of $256.13. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.17.

SAP (NYSE:SAP) last released its earnings results on Monday, October 21st. The software maker reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.08). The business had revenue of $8.47 billion for the quarter, compared to analyst estimates of $9.25 billion. SAP had a net margin of 8.15% and a return on equity of 11.44%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.20 earnings per share. As a group, equities research analysts expect that SAP SE will post 4.8 EPS for the current year.

SAP Company Profile

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.