Sapiens International Corporation N.V. $SPNS Shares Purchased by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC significantly increased its stake in Sapiens International Corporation by 423% in Q1, owning approximately 0.09% of the company valued at $1.33 million.
• Several other hedge funds also boosted their positions, with Larson Financial increasing by 2,216.7% and Mirae Asset Global Investments by 2,507.5% during the same period.
• Analysts have mixed sentiments on Sapiens International, with Barclays raising the price target to $31.00 and Needham & Company downgrading to a "hold" rating with a price target of $35.00.

Magnetar Financial LLC increased its holdings in Sapiens International Corporation N.V. (NASDAQ:SPNS - Free Report) by 423.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,252 shares of the technology company's stock after acquiring an additional 39,835 shares during the quarter. Magnetar Financial LLC owned approximately 0.09% of Sapiens International worth $1,334,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Larson Financial Group LLC increased its stake 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 period. Quarry LP purchased a new position in shares of Sapiens International during the fourth quarter worth about $37,000. Mirae Asset Global Investments Co. Ltd. increased its position in 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 acquiring an additional 4,689 shares during the period. ProShare Advisors LLC raised its stake in Sapiens International by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 8,668 shares of the technology company's stock valued at $233,000 after acquiring an additional 2,851 shares during the last quarter. Finally, State of Wyoming lifted its position 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 acquiring an additional 6,171 shares during the period. Institutional investors and hedge funds own 30.73% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SPNS. Barclays boosted their target price on Sapiens International from $28.00 to $31.00 and gave the company an "underweight" rating in a report on Friday, May 9th. Wall Street Zen cut shares of Sapiens International from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Needham & Company LLC cut shares of Sapiens International from a "buy" rating to a "hold" rating and set a $35.00 target price for the company. in a research note on Wednesday, August 13th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $31.33.

Sapiens International Price Performance

Sapiens International stock traded down $0.02 during mid-day trading on Thursday, reaching $42.99. The company had a trading volume of 338,519 shares, compared to its average volume of 403,418. The stock's 50-day simple moving average is $33.42 and its 200-day simple moving average is $29.64. Sapiens International Corporation N.V. has a 1 year low of $23.69 and a 1 year high of $43.00. The company has a market capitalization of $2.40 billion, a P/E ratio of 35.23 and a beta of 0.95.

About Sapiens International

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.