Bank of America Corp DE Sells 30,998 Shares of Sapiens International Co. (NASDAQ:SPNS)

Bank of America Corp DE trimmed its holdings in Sapiens International Co. (NASDAQ:SPNS - Free Report) by 48.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,503 shares of the technology company's stock after selling 30,998 shares during the quarter. Bank of America Corp DE owned approximately 0.06% of Sapiens International worth $900,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Barclays PLC increased its holdings in shares of Sapiens International by 415.1% in the 3rd quarter. Barclays PLC now owns 54,640 shares of the technology company's stock worth $2,036,000 after buying an additional 44,033 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Sapiens International by 7.3% during the fourth quarter. MetLife Investment Management LLC now owns 18,535 shares of the technology company's stock worth $498,000 after buying an additional 1,263 shares during the period. Morgan Dempsey Capital Management LLC increased its position in Sapiens International by 8.8% during the fourth 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 during the last quarter. Principal Financial Group Inc. raised its position in Sapiens International by 6.5% in the 4th quarter. Principal Financial Group Inc. now owns 10,400 shares of the technology company's stock worth $279,000 after purchasing an additional 633 shares during the period. Finally, Zions Bancorporation N.A. lifted its stake in shares of Sapiens International by 16.9% during the 4th quarter. Zions Bancorporation N.A. now owns 67,830 shares of the technology company's stock worth $1,823,000 after acquiring an additional 9,828 shares during the last quarter. 30.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SPNS has been the topic of a number of research reports. Barclays raised their target price on shares of Sapiens International from $28.00 to $31.00 and gave the stock an "underweight" rating in a research report on Friday, May 9th. Needham & Company LLC reaffirmed a "buy" rating and issued a $35.00 price target on shares of Sapiens International in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Sapiens International has an average rating of "Hold" and an average target price of $34.25.

Sapiens International Price Performance

Shares of SPNS opened at $29.72 on Friday. Sapiens International Co. has a twelve month low of $23.69 and a twelve month high of $41.22. The company has a 50 day moving average of $27.41 and a two-hundred day moving average of $27.26. The company has a quick ratio of 2.18, a current ratio of 2.24 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 23.04 and a beta of 0.97.

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

Sapiens International Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Wednesday, April 16th. Shareholders of record on Monday, April 7th were given a dividend of $0.66 per share. This is an increase from Sapiens International's previous semi-annual dividend of $0.22. This represents a yield of 2.2%. The ex-dividend date was Monday, April 7th. Sapiens International's dividend payout ratio (DPR) is currently 46.15%.

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.

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