Confluence Investment Management LLC Trims Stock Holdings in Sapiens International Corporation N.V. $SPNS

Key Points

• Confluence Investment Management LLC reduced its holdings in Sapiens International Corporation N.V. by 52.1% in Q2, now owning 50,113 shares valued at approximately $1.47 million.
• Several institutional investors have significantly increased their positions in Sapiens, with Larson Financial Group and Mirae Asset Global Investments boosting their holdings by over 2,200% and 2,500%, respectively.
• Recent analyst ratings show that Sapiens has been downgraded to a hold rating by Needham & Company and others, with a consensus target price of $31.33.

Confluence Investment Management LLC lowered its holdings in Sapiens International Corporation N.V. (NASDAQ:SPNS - Free Report) by 52.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,113 shares of the technology company's stock after selling 54,588 shares during the period. Confluence Investment Management LLC owned about 0.09% of Sapiens International worth $1,466,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC boosted its holdings in 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 last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Sapiens International by 2,507.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,876 shares of the technology company's stock worth $132,000 after buying an additional 4,689 shares during the last quarter. AQR Capital Management LLC bought a new position in Sapiens International during the 1st quarter worth approximately $209,000. ProShare Advisors LLC lifted its holdings in Sapiens International by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 8,668 shares of the technology company's stock worth $233,000 after buying an additional 2,851 shares during the last quarter. Finally, State of Wyoming lifted its holdings in Sapiens International by 221.9% during the 1st quarter. State of Wyoming now owns 8,952 shares of the technology company's stock worth $243,000 after buying an additional 6,171 shares during the last quarter. Hedge funds and other institutional investors own 30.73% of the company's stock.

Sapiens International Stock Performance

Shares of Sapiens International stock opened at $43.00 on Friday. The business's 50 day simple moving average is $35.31 and its 200-day simple moving average is $30.39. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 35.25 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.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Needham & Company LLC downgraded Sapiens International from a "buy" rating to a "hold" rating and set a $35.00 target price on the stock. in a report on Wednesday, August 13th. Wall Street Zen downgraded 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Sapiens International presently has a consensus rating of "Reduce" and a consensus target price of $31.33.

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.

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