Allianz Asset Management GmbH Sells 17,729 Shares of Sapiens International Corporation N.V. (NASDAQ:SPNS)

Key Points

• Allianz Asset Management GmbH reduced its holdings in Sapiens International Corporation N.V. by 44.6%, resulting in a total of 21,985 shares worth $596,000.
• In the first quarter, multiple institutional investors significantly increased their stakes in Sapiens International, with Mirae Asset Global Investments up by 2,507.5% and GAMMA Investing LLC increasing by 3,873.8%.
• Sapiens International's stock has a current price of $26.75, with a 52-week range between $23.69 and $39.99, and a consensus rating of "Hold" with a target price of $34.25.

Allianz Asset Management GmbH cut its position in Sapiens International Corporation N.V. (NASDAQ:SPNS - Free Report) by 44.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,985 shares of the technology company's stock after selling 17,729 shares during the quarter. Allianz Asset Management GmbH's holdings in Sapiens International were worth $596,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of Sapiens International by 3.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,077,821 shares of the technology company's stock worth $28,961,000 after purchasing an additional 32,126 shares during the last quarter. Nine Ten Capital Management LLC lifted its holdings in shares of Sapiens International by 17.0% in the 4th quarter. Nine Ten Capital Management LLC now owns 1,074,291 shares of the technology company's stock worth $28,866,000 after purchasing an additional 155,880 shares during the last quarter. Topline Capital Management LLC acquired a new position in shares of Sapiens International during the fourth quarter valued at $24,147,000. Wellington Management Group LLP boosted its stake in Sapiens International by 10.9% during the 4th 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 during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Sapiens International by 1.8% in the fourth quarter. Renaissance Technologies LLC now owns 653,603 shares of the technology company's stock valued at $17,562,000 after purchasing an additional 11,700 shares during the period. 30.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Sapiens International Price Performance

NASDAQ:SPNS traded down $0.02 during mid-day trading on Tuesday, reaching $27.08. The stock had a trading volume of 97,856 shares, compared to its average volume of 180,481. The stock has a market cap of $1.51 billion, a P/E ratio of 20.82 and a beta of 0.93. Sapiens International Corporation N.V. has a fifty-two week low of $23.69 and a fifty-two week high of $39.99. The business's 50 day moving average is $29.11 and its 200 day moving average is $27.83.

Sapiens International (NASDAQ:SPNS - Get Free Report) last released its quarterly 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 company had revenue of $136.11 million during the quarter, compared to analysts' expectations of $136.25 million. Sapiens International had a net margin of 13.37% and a return on equity of 17.30%. The business's quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 earnings per share. Equities analysts expect 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.