Chase Investment Counsel Corp Has $4.51 Million Holdings in SAP SE (NYSE:SAP)

Chase Investment Counsel Corp cut its holdings in SAP SE (NYSE:SAP) by 2.5% during the 4th quarter, HoldingsChannel reports. The fund owned 29,202 shares of the software maker’s stock after selling 756 shares during the quarter. SAP accounts for approximately 2.0% of Chase Investment Counsel Corp’s holdings, making the stock its 12th largest position. Chase Investment Counsel Corp’s holdings in SAP were worth $4,514,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SAP. Ameriprise Financial Inc. grew its stake in shares of SAP by 213.0% in the third quarter. Ameriprise Financial Inc. now owns 1,420,255 shares of the software maker’s stock valued at $183,507,000 after acquiring an additional 966,450 shares in the last quarter. Lazard Asset Management LLC grew its stake in SAP by 19,468.8% during the third quarter. Lazard Asset Management LLC now owns 482,762 shares of the software maker’s stock worth $62,430,000 after buying an additional 480,295 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in SAP by 64.1% during the third quarter. Envestnet Asset Management Inc. now owns 1,060,627 shares of the software maker’s stock worth $137,160,000 after buying an additional 414,407 shares in the last quarter. FMR LLC grew its stake in SAP by 2.1% during the third quarter. FMR LLC now owns 5,864,247 shares of the software maker’s stock worth $758,364,000 after buying an additional 122,135 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in SAP during the fourth quarter worth about $17,255,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SAP. BMO Capital Markets increased their price objective on shares of SAP from $215.00 to $218.00 and gave the stock a “market perform” rating in a research note on Friday. KeyCorp began coverage on shares of SAP in a research note on Thursday, March 21st. They set an “overweight” rating on the stock. The Goldman Sachs Group increased their price objective on shares of SAP from $185.00 to $207.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. JMP Securities increased their target price on shares of SAP from $204.00 to $220.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 23rd. Finally, Barclays dropped their target price on shares of SAP from $212.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.20.

SAP Stock Down 1.3 %

NYSE SAP traded down $2.36 during trading hours on Monday, reaching $183.82. The company’s stock had a trading volume of 218,345 shares, compared to its average volume of 773,496. The firm has a fifty day simple moving average of $187.96 and a 200-day simple moving average of $166.29. SAP SE has a 52 week low of $126.75 and a 52 week high of $199.29. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.18.

SAP Increases Dividend

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

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.