Truist Financial Corp Sells 1,238 Shares of SAP SE (NYSE:SAP)

Truist Financial Corp decreased its stake in SAP SE (NYSE:SAP) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,413 shares of the software maker’s stock after selling 1,238 shares during the period. Truist Financial Corp’s holdings in SAP were worth $13,204,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Argonautica Private Wealth Management Inc. grew its holdings in shares of SAP by 2.6% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 2,509 shares of the software maker’s stock valued at $388,000 after acquiring an additional 63 shares in the last quarter. Contravisory Investment Management Inc. lifted its stake in SAP by 5.1% in the 4th quarter. Contravisory Investment Management Inc. now owns 1,437 shares of the software maker’s stock valued at $222,000 after purchasing an additional 70 shares during the last quarter. Blue Trust Inc. lifted its stake in SAP by 5.8% in the 4th quarter. Blue Trust Inc. now owns 1,361 shares of the software maker’s stock valued at $210,000 after purchasing an additional 75 shares during the last quarter. Axxcess Wealth Management LLC lifted its stake in SAP by 1.8% in the 3rd quarter. Axxcess Wealth Management LLC now owns 4,586 shares of the software maker’s stock valued at $593,000 after purchasing an additional 79 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its stake in SAP by 18.6% in the 4th quarter. Global Retirement Partners LLC now owns 630 shares of the software maker’s stock valued at $99,000 after purchasing an additional 99 shares during the last quarter.

SAP Price Performance

Shares of SAP stock opened at $180.07 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.25 and a current ratio of 1.25. SAP SE has a 12-month low of $126.75 and a 12-month high of $199.29. The firm has a 50 day moving average price of $188.27 and a two-hundred day moving average price of $167.12.

SAP Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Friday, May 17th will be given a $2.3852 dividend. This represents a dividend yield of 0.9%. This is an increase from SAP’s previous annual dividend of $2.19. The ex-dividend date is Thursday, May 16th. SAP’s payout ratio is presently 34.92%.

Wall Street Analyst Weigh In

SAP has been the subject of several recent analyst reports. BMO Capital Markets raised their target price on shares of SAP from $215.00 to $218.00 and gave the company a “market perform” rating in a research note on Friday, April 26th. The Goldman Sachs Group raised their target price on shares of SAP from $185.00 to $207.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Jefferies Financial Group upgraded shares of SAP from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Barclays cut their price objective on shares of SAP from $212.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Finally, KeyCorp began coverage on shares of SAP in a research report on Thursday, March 21st. They set an “overweight” rating for the company. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, SAP has a consensus rating of “Moderate Buy” and a consensus target price of $206.20.

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.