Rhumbline Advisers Grows Position in Sapiens International Corporation N.V. $SPNS

Key Points

• Rhumbline Advisers increased its stake in Sapiens International Corporation by 467.6%, acquiring an additional 217,540 shares during the first quarter, bringing its total ownership to 264,065 shares worth $7.15 million.
• Institutional investors collectively own 30.73% of Sapiens International, with several other hedge funds, including Northern Trust Corp and Jane Street Group, also increasing their stakes during the fourth quarter.
• Equities analysts have downgraded Sapiens International from a "buy" to a "hold" rating, with a consensus price target of $31.33.

Rhumbline Advisers grew its stake in shares of Sapiens International Corporation N.V. (NASDAQ:SPNS - Free Report) by 467.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 264,065 shares of the technology company's stock after purchasing an additional 217,540 shares during the quarter. Rhumbline Advisers owned approximately 0.47% of Sapiens International worth $7,154,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Larson Financial Group LLC boosted its stake in shares of Sapiens International by 2,216.7% during 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. Charles Schwab Investment Management Inc. boosted its stake in shares of Sapiens International by 1.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 75,227 shares of the technology company's stock valued at $2,038,000 after purchasing an additional 1,131 shares during the period. Martingale Asset Management L P lifted its stake in Sapiens International by 3.8% in the first quarter. Martingale Asset Management L P now owns 45,062 shares of the technology company's stock worth $1,221,000 after acquiring an additional 1,660 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Sapiens International by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,418 shares of the technology company's stock worth $1,597,000 after acquiring an additional 2,073 shares during the period. Finally, LPL Financial LLC lifted its stake in Sapiens International by 3.4% in the first quarter. LPL Financial LLC now owns 70,590 shares of the technology company's stock worth $1,912,000 after acquiring an additional 2,335 shares during the period. 30.73% of the stock is owned by hedge funds and other institutional investors.

Sapiens International Price Performance

Shares of NASDAQ:SPNS remained flat at $43.00 during trading on Monday. The stock had a trading volume of 1,089,250 shares, compared to its average volume of 425,052. Sapiens International Corporation N.V. has a 1 year low of $23.69 and a 1 year high of $43.13. The business's 50-day moving average price is $35.31 and its 200-day moving average price is $30.41. The firm has a market capitalization of $2.40 billion, a PE ratio of 35.25 and a beta of 0.95.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SPNS. Wall Street Zen cut Sapiens International from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. 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 report on Wednesday, August 13th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Sapiens International has an average rating of "Reduce" and a consensus target price of $31.33.

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.