Sapiens International Co. (NASDAQ:SPNS) Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC lessened its position in Sapiens International Co. (NASDAQ:SPNS) by 4.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 112,579 shares of the technology company’s stock after selling 5,796 shares during the period. Confluence Investment Management LLC’s holdings in Sapiens International were worth $3,820,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SPNS. Vanguard Group Inc. increased its holdings in shares of Sapiens International by 8.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,295,832 shares of the technology company’s stock valued at $36,841,000 after purchasing an additional 106,358 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Sapiens International by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,006,523 shares of the technology company’s stock valued at $29,130,000 after purchasing an additional 44,685 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Sapiens International by 9.1% in the 1st quarter. Acadian Asset Management LLC now owns 954,791 shares of the technology company’s stock valued at $30,687,000 after purchasing an additional 79,302 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Sapiens International by 155.4% in the 1st quarter. Janus Henderson Group PLC now owns 599,386 shares of the technology company’s stock valued at $19,276,000 after purchasing an additional 364,695 shares in the last quarter. Finally, Hillsdale Investment Management Inc. increased its holdings in shares of Sapiens International by 8.5% in the 1st quarter. Hillsdale Investment Management Inc. now owns 153,400 shares of the technology company’s stock valued at $4,933,000 after purchasing an additional 12,000 shares in the last quarter. Institutional investors and hedge funds own 30.73% of the company’s stock.

Sapiens International Trading Down 1.2 %

Shares of NASDAQ SPNS traded down $0.42 during midday trading on Friday, reaching $35.72. 185,100 shares of the stock were exchanged, compared to its average volume of 232,510. The company has a market capitalization of $1.97 billion, a P/E ratio of 30.53 and a beta of 1.22. Sapiens International Co. has a 52-week low of $24.39 and a 52-week high of $41.22. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average price of $35.54 and a 200-day moving average price of $32.28.

Sapiens International (NASDAQ:SPNS) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $136.80 million during the quarter, compared to the consensus estimate of $137.78 million. Sapiens International had a net margin of 12.92% and a return on equity of 17.82%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.31 earnings per share. Equities research analysts expect that Sapiens International Co. will post 1.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Needham & Company LLC raised their target price on shares of Sapiens International from $38.00 to $44.00 and gave the company a “buy” rating in a report on Friday. StockNews.com upgraded shares of Sapiens International from a “buy” rating to a “strong-buy” rating in a report on Sunday. The Goldman Sachs Group raised their target price on shares of Sapiens International from $38.00 to $43.00 and gave the company a “buy” rating in a report on Friday. Finally, Barclays raised their target price on shares of Sapiens International from $30.00 to $38.00 and gave the company an “underweight” rating in a report on Friday.

Sapiens International Company Profile

Sapiens International Corporation N.V. provides software solutions for the insurance industry in North America, the United Kingdom, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company provides various solutions for property and casualty commercial and personal lines, life and pensions, and reinsurance fields.