Sat Nov 23 10:40:00 UTC 2024: ## PNC Reduces SAP Stake; Other Hedge Funds Adjust Positions Amid Mixed Analyst Ratings

**New York, NY – November 1, 2024** – PNC Financial Services Group Inc. slightly reduced its holdings in SAP SE (NYSE:SAP) during the third quarter, selling 2,476 shares, resulting in a 2.8% decrease in its stake. The remaining 86,228 shares were valued at $19.76 million at the end of the quarter. This follows a period of varied activity from other hedge funds, with some increasing their positions significantly while others established new stakes. Godsey & Gibb Inc. and LRI Investments LLC each acquired new positions valued at approximately $25,000, while POM Investment Strategies LLC and Crewe Advisors LLC significantly boosted their holdings by 892.3% and 1,270.0% respectively. Atticus Wealth Management LLC also entered a new position valued at $40,000.

SAP’s stock closed Friday at $236.21, up $0.18, on relatively low volume. While the company reported a 9.4% year-over-year revenue increase in its latest quarterly earnings, it missed analysts’ estimates for both earnings per share ($1.23 vs. $1.31) and revenue ($8.47 billion vs. $9.25 billion).

Despite the earnings miss, analysts remain largely bullish on SAP. Recent ratings include upgrades from Barclays, BMO Capital Markets, and JMP Securities, boosting price targets considerably. However, TD Cowen maintained a hold rating. Overall, the stock has a “Moderate Buy” rating from MarketBeat.com, with a consensus target price of $252.33. SAP’s financial health shows a current and quick ratio of 1.10 and a low debt-to-equity ratio of 0.17. However, the stock trades at a high P/E ratio of 94.48 and PEG ratio of 4.50.

The company provides enterprise software solutions worldwide, including its flagship SAP S/4HANA platform. While analysts remain divided on the stock’s short-term prospects, its long-term growth potential continues to attract significant investor interest.

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