Mackenzie Financial Corp Acquires 19,465 Shares of Sapiens International Corporation N.V. (NASDAQ:SPNS)

Key Points

• Mackenzie Financial Corp increased its stake in Sapiens International Corporation by 48.0% in Q1, owning about 0.11% of the company, valuing their share at $1,625,000.
• Several hedge funds also made significant changes to their positions in Sapiens International, with Franklin Resources Inc. boosting its position by 103.3%.
• Analysts have set a consensus rating of "Hold" for Sapiens International, with an average price target of $31.33 amidst mixed ratings from multiple brokerages.

Mackenzie Financial Corp grew its position in Sapiens International Corporation N.V. (NASDAQ:SPNS - Free Report) by 48.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,999 shares of the technology company's stock after purchasing an additional 19,465 shares during the period. Mackenzie Financial Corp owned about 0.11% of Sapiens International worth $1,625,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Sapiens International by 2,507.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,876 shares of the technology company's stock valued at $132,000 after buying an additional 4,689 shares in the last quarter. GAMMA Investing LLC lifted its stake in Sapiens International by 3,873.8% in the first quarter. GAMMA Investing LLC now owns 14,385 shares of the technology company's stock valued at $390,000 after acquiring an additional 14,023 shares during the last quarter. MetLife Investment Management LLC grew its position in Sapiens International by 7.3% in the fourth quarter. MetLife Investment Management LLC now owns 18,535 shares of the technology company's stock worth $498,000 after acquiring an additional 1,263 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of 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 purchasing an additional 2,851 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of Sapiens International by 3.6% during the 4th quarter. Barclays PLC now owns 56,586 shares of the technology company's stock valued at $1,520,000 after purchasing an additional 1,946 shares in the last quarter. 30.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SPNS has been the subject of several analyst reports. Wall Street Zen lowered shares of Sapiens International from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Barclays boosted their price target on Sapiens International from $28.00 to $31.00 and gave the stock an "underweight" rating in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Sapiens International currently has a consensus rating of "Hold" and an average price target of $31.33.

Sapiens International Stock Up 0.9%

SPNS stock traded up $0.23 during midday trading on Friday, hitting $26.72. 70,732 shares of the company traded hands, compared to its average volume of 181,001. Sapiens International Corporation N.V. has a twelve month low of $23.69 and a twelve month high of $39.99. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 20.53 and a beta of 0.93. The business has a 50 day simple moving average of $29.01 and a 200-day simple moving average of $27.82.

Sapiens International (NASDAQ:SPNS - Get Free Report) last posted its earnings results on Thursday, May 8th. The technology company reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.02. The business had revenue of $136.11 million for the quarter, compared to analyst estimates of $136.25 million. Sapiens International had a net margin of 13.37% and a return on equity of 17.30%. Sapiens International's revenue was up 1.4% compared to the same quarter last year. During the same period last year, the business posted $0.36 EPS. Equities research analysts forecast that Sapiens International Corporation N.V. will post 1.42 EPS for the current year.

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.