Confluence Investment Management LLC Lowers 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 decreased its position in Sapiens International Corporation N.V. (NASDAQ:SPNS - Free Report) by 52.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,113 shares of the technology company's stock after selling 54,588 shares during the quarter. Confluence Investment Management LLC owned 0.09% of Sapiens International worth $1,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its holdings in shares of Sapiens International by 227.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 550,343 shares of the technology company's stock worth $14,909,000 after purchasing an additional 382,138 shares during the period. Nuveen LLC purchased a new position in shares of Sapiens International in the 1st quarter worth approximately $7,044,000. Millennium Management LLC boosted its holdings in shares of Sapiens International by 217.1% in the 1st quarter. Millennium Management LLC now owns 371,368 shares of the technology company's stock worth $10,060,000 after purchasing an additional 254,259 shares during the period. Royce & Associates LP boosted its holdings in shares of Sapiens International by 25.9% in the 1st quarter. Royce & Associates LP now owns 1,174,043 shares of the technology company's stock worth $31,805,000 after purchasing an additional 241,340 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Sapiens International by 467.6% in the 1st quarter. Rhumbline Advisers now owns 264,065 shares of the technology company's stock worth $7,154,000 after purchasing an additional 217,540 shares during the period. Institutional investors own 30.73% of the company's stock.

Sapiens International Trading Down 0.1%

Shares of SPNS stock traded down $0.03 during mid-day trading on Friday, reaching $43.03. The stock had a trading volume of 159,935 shares, compared to its average volume of 427,462. The business's fifty day moving average is $36.36 and its 200-day moving average is $30.80. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 35.27 and a beta of 0.95. Sapiens International Corporation N.V. has a 1-year low of $23.69 and a 1-year high of $43.18.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SPNS shares. Wall Street Zen cut Sapiens International from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Needham & Company LLC cut Sapiens International from a "buy" rating to a "hold" rating and set a $35.00 price objective for the company. in a report on Wednesday, August 13th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Sapiens International presently has a consensus 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.