Mackenzie Financial Corp Grows Stock Position in 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 increased its stake in Sapiens International Corporation N.V. (NASDAQ:SPNS - Free Report) by 48.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 59,999 shares of the technology company's stock after purchasing an additional 19,465 shares during the quarter. Mackenzie Financial Corp owned about 0.11% of Sapiens International worth $1,625,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SPNS. LPL Financial LLC grew its position in shares of Sapiens International by 17.0% in the fourth quarter. LPL Financial LLC now owns 68,255 shares of the technology company's stock valued at $1,742,000 after purchasing an additional 9,917 shares in the last quarter. Norges Bank purchased a new position in shares of Sapiens International in the fourth quarter valued at $1,239,000. Wellington Management Group LLP grew its position in shares of Sapiens International by 10.9% in the fourth quarter. Wellington Management Group LLP now owns 659,524 shares of the technology company's stock valued at $17,721,000 after purchasing an additional 64,972 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Sapiens International by 103.3% in the fourth quarter. Franklin Resources Inc. now owns 39,734 shares of the technology company's stock valued at $1,068,000 after purchasing an additional 20,194 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Sapiens International by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 410,133 shares of the technology company's stock valued at $11,020,000 after purchasing an additional 1,185 shares in the last quarter. 30.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wall Street Zen lowered Sapiens International from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Barclays lifted their price objective on Sapiens International from $28.00 to $31.00 and gave the company an "underweight" rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $31.33.

Sapiens International Stock Up 1.3%

Shares of SPNS stock opened at $27.09 on Tuesday. The business has a 50-day moving average price of $29.11 and a two-hundred day moving average price of $27.83. Sapiens International Corporation N.V. has a 12-month low of $23.69 and a 12-month high of $39.99. The firm has a market cap of $1.51 billion, a P/E ratio of 20.84 and a beta of 0.93.

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

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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