Sustainable Growth Advisers 13F: Cuts SAP Stake by $33M

Sustainable Growth Advisers reduced its stake in SAP SE NYSE: SAP during the third quarter, cutting its holdings by 45.4%, according to a Form 13F filing disclosed on October 15, 2026. Institutional filings like this one look backward at the previous quarter's activity and may not reflect the fund's current holdings today.

What Changed in Sustainable Growth Advisers's Sap Se Position

The fund sold 159,675 shares of the enterprise software provider during the period. That left Sustainable Growth Advisers with 192,096 shares of SAP SE. The remaining stake carried a reported value of $40,048,174 at the end of the tracking period.

Other Institutional Activity in Sap Se

Other large money managers adjusted their positions in SAP SE around the same time. Fisher Asset Management, LLC grew its holdings by 396,796 shares, ending with 14,931,460 shares worth about $3,348,977,063 after a 2.7% increase. Eagle Capital Management LLC grew its holdings by 791,932 shares, ending with 8,640,615 shares worth about $1,938,003,480 after a 10.1% increase. Goldman Sachs Group Inc grew its holdings by 2,722,764 shares, ending with 6,023,085 shares worth about $1,350,917,694 after an 82.5% increase. Capital International Investors grew its holdings by 669,581 shares, ending with 5,681,413 shares worth about $1,274,284,083 after a 13.4% increase. Morgan Stanley grew its holdings by 1,860,084 shares, ending with 5,476,111 shares worth about $1,228,236,899 after a 51.4% increase.

Sap Se Stock Up 1.0%

SAP SE shares recently traded around $222.68 as of October 16, 2026. The stock sits 4.8% above its 50-day moving average of $212.40 and 15.9% above its 200-day moving average of $192.16. The company carries a market capitalization of $259.7 billion and trades below its average analyst price target of $261.17.

Recent Earnings

For its trailing twelve months, SAP SE reported $38.2 billion in revenue and earnings of $7.79 per share. The company posted a net profit margin of 20.4% alongside an 18.3% return on equity. Investors are awaiting the next earnings release scheduled for October 21, 2026.

Dividend

SAP SE pays an annual dividend yielding 1.3%, with a payout ratio of 37.7% of its earnings.

Analysts Set New Price Targets

Wall Street firms have continued adjusting their views on the software maker ahead of its upcoming earnings report. On July 24, 2026, BMO Capital maintains the stock with an Outperform rating and a $177.00 price target. On July 27, 2026, Barclays maintains the stock with an Overweight rating and a $242.00 price target. On August 26, 2026, UBS downgrade the stock with a Neutral rating. On October 8, 2026, BMO Capital maintains the stock with an Outperform rating and a $235.00 price target. On October 13, 2026, Barclays maintains the stock with an Overweight rating and a $243.00 price target. The stock currently holds a consensus recommendation key of buy from 12 analyst opinions.

About Sap Se

Based in Walldorf, Germany, SAP SE develops enterprise application software and business solutions that help organizations manage business operations and customer relations worldwide. Institutional position changes like the one reported by Sustainable Growth Advisers give a view into how large professional investors manage exposure to global enterprise technology leaders.

Bottom Line

Investors tracking Sustainable Growth Advisers's move will want to watch SAP SE's upcoming earnings report on October 21, 2026, for updated financial results. Future 13F filings will show whether other institutional funds followed a similar path or kept adding to their positions. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.