Acadian Asset Management LLC Decreases Stock Position in 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 decreased its position in shares of Sapiens International Corporation N.V. (NASDAQ:SPNS - Free Report) by 23.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 738,929 shares of the technology company's stock after selling 226,353 shares during the quarter. Acadian Asset Management LLC owned approximately 1.32% of Sapiens International worth $19,995,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in SPNS. Northern Trust Corp grew its holdings in shares of Sapiens International by 1.2% during the fourth quarter. Northern Trust Corp now owns 226,353 shares of the technology company's stock worth $6,082,000 after purchasing an additional 2,641 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Sapiens International by 45.3% during the fourth quarter. Jane Street Group LLC now owns 79,863 shares of the technology company's stock worth $2,146,000 after purchasing an additional 24,890 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Sapiens International by 15.4% during the fourth quarter. Deutsche Bank AG now owns 67,865 shares of the technology company's stock worth $1,824,000 after buying an additional 9,078 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Sapiens International by 6.9% during the fourth quarter. Janus Henderson Group PLC now owns 644,851 shares of the technology company's stock worth $17,327,000 after buying an additional 41,422 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in shares of Sapiens International by 39.5% during the fourth quarter. Lazard Asset Management LLC now owns 36,346 shares of the technology company's stock worth $976,000 after buying an additional 10,289 shares during the period. Hedge funds and other institutional investors own 30.73% of the company's stock.

Sapiens International Price Performance

Shares of SPNS stock traded up $0.02 during midday trading on Tuesday, reaching $43.02. 345,732 shares of the company traded hands, compared to its average volume of 424,414. The firm's 50 day simple moving average is $35.58 and its two-hundred day simple moving average is $30.52. The firm has a market cap of $2.40 billion, a PE ratio of 35.26 and a beta of 0.94. Sapiens International Corporation N.V. has a 1-year low of $23.69 and a 1-year high of $43.13.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SPNS. Wall Street Zen lowered Sapiens International from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Needham & Company LLC cut shares of Sapiens International from a "buy" rating to a "hold" rating and set a $35.00 price objective on the stock. in a research note on Wednesday, August 13th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Sapiens International currently has an average rating of "Reduce" and an average target price of $31.33.

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.