Bank of America Corp DE Has $900,000 Stock Position in Sapiens International Co. (NASDAQ:SPNS)

Bank of America Corp DE trimmed its holdings in shares of Sapiens International Co. (NASDAQ:SPNS - Free Report) by 48.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,503 shares of the technology company's stock after selling 30,998 shares during the period. Bank of America Corp DE owned about 0.06% of Sapiens International worth $900,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Morgan Dempsey Capital Management LLC lifted its holdings in shares of Sapiens International by 8.8% during the 4th quarter. Morgan Dempsey Capital Management LLC now owns 6,635 shares of the technology company's stock valued at $178,000 after acquiring an additional 539 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Sapiens International by 6.5% in the 4th quarter. Principal Financial Group Inc. now owns 10,400 shares of the technology company's stock valued at $279,000 after buying an additional 633 shares during the period. Blue Trust Inc. boosted its holdings in shares of Sapiens International by 171.2% in the 4th quarter. Blue Trust Inc. now owns 1,356 shares of the technology company's stock valued at $36,000 after buying an additional 856 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Sapiens International by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,096 shares of the technology company's stock valued at $1,991,000 after buying an additional 874 shares during the period. Finally, Nebula Research & Development LLC boosted its holdings in shares of Sapiens International by 9.3% in the 4th quarter. Nebula Research & Development LLC now owns 13,361 shares of the technology company's stock valued at $359,000 after buying an additional 1,133 shares during the period. Institutional investors and hedge funds own 30.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SPNS shares. Barclays boosted their target price on shares of Sapiens International from $28.00 to $31.00 and gave the company an "underweight" rating in a research note on Friday, May 9th. Needham & Company LLC reissued a "buy" rating and set a $35.00 target price on shares of Sapiens International in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Sapiens International currently has a consensus rating of "Hold" and a consensus target price of $34.25.

Sapiens International Trading Down 1.5%

Shares of NASDAQ:SPNS traded down $0.44 during mid-day trading on Wednesday, hitting $29.26. The stock had a trading volume of 132,729 shares, compared to its average volume of 156,643. The company has a market cap of $1.64 billion, a PE ratio of 22.68 and a beta of 0.97. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.18 and a current ratio of 2.24. The company's 50 day moving average is $27.59 and its 200-day moving average is $27.30. Sapiens International Co. has a 12-month low of $23.69 and a 12-month high of $41.22.

Sapiens International (NASDAQ:SPNS - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The technology company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The firm had revenue of $136.11 million for the quarter, compared to analyst estimates of $136.25 million. Sapiens International had a net margin of 13.31% and a return on equity of 17.42%. The company's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 EPS. On average, sell-side analysts predict that Sapiens International Co. will post 1.42 EPS for the current year.

Sapiens International Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Wednesday, April 16th. Stockholders of record on Monday, April 7th were paid a dividend of $0.66 per share. This is a positive change from Sapiens International's previous semi-annual dividend of $0.22. The ex-dividend date was Monday, April 7th. This represents a dividend yield of 2.2%. Sapiens International's dividend payout ratio is 46.15%.

About Sapiens International

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.