Acadian Asset Management LLC Sells 226,353 Shares of Sapiens International Corporation N.V. $SPNS

Key Points

• Acadian Asset Management LLC has reduced its stake in Sapiens International Corporation by 23.4%, now owning 738,929 shares valued at approximately $20 million.
• Several hedge funds have made significant adjustments to their positions in Sapiens, with Larson Financial Group increasing its stake by 2,216.7%.
• Wall Street analysts have downgraded Sapiens International from "buy" to "hold," resulting in a consensus target price of $31.33.

Acadian Asset Management LLC lessened its position in Sapiens International Corporation N.V. (NASDAQ:SPNS - Free Report) by 23.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 738,929 shares of the technology company's stock after selling 226,353 shares during the period. Acadian Asset Management LLC owned about 1.32% of Sapiens International worth $19,995,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Larson Financial Group LLC raised its position in shares of Sapiens International by 2,216.7% in the first quarter. Larson Financial Group LLC now owns 973 shares of the technology company's stock valued at $26,000 after purchasing an additional 931 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Sapiens International by 1.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 75,227 shares of the technology company's stock worth $2,038,000 after purchasing an additional 1,131 shares during the period. Martingale Asset Management L P lifted its holdings in Sapiens International by 3.8% during the 1st quarter. Martingale Asset Management L P now owns 45,062 shares of the technology company's stock worth $1,221,000 after purchasing an additional 1,660 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Sapiens International by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,418 shares of the technology company's stock valued at $1,597,000 after purchasing an additional 2,073 shares during the period. Finally, LPL Financial LLC increased its position in Sapiens International by 3.4% during the 1st quarter. LPL Financial LLC now owns 70,590 shares of the technology company's stock worth $1,912,000 after buying an additional 2,335 shares during the period. 30.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPNS has been the subject of a number of recent research reports. Needham & Company LLC cut shares of Sapiens International from a "buy" rating to a "hold" rating and set a $35.00 target price for the company. in a research report on Wednesday, August 13th. Wall Street Zen cut shares of Sapiens International from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Sapiens International has an average rating of "Reduce" and a consensus price target of $31.33.

Sapiens International Trading Up 0.0%

Sapiens International stock traded up $0.01 during trading hours on Wednesday, reaching $43.06. 175,277 shares of the stock were exchanged, compared to its average volume of 424,364. The stock has a 50 day moving average of $35.85 and a two-hundred day moving average of $30.61. The company has a market cap of $2.41 billion, a P/E ratio of 35.29 and a beta of 0.95. Sapiens International Corporation N.V. has a twelve month low of $23.69 and a twelve month high of $43.13.

Sapiens International 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.