ARK Investment Management LLC Grows Position in Sapiens International Corporation N.V. (NASDAQ:SPNS)

Key Points

• ARK Investment Management LLC increased its holdings in Sapiens International Corporation by 50.7%, acquiring a total of 74,531 shares worth approximately $2,019,000 by the end of the reporting period.
• Several hedge funds made significant changes to their positions, with Larson Financial Group LLC raising its stake by 2,216.7%, reflective of heightened institutional investor interest in the company.
• Wall Street analysts have mixed ratings on Sapiens International, with an average rating of "Hold" and a consensus price target of $34.25.

ARK Investment Management LLC grew its position in shares of Sapiens International Corporation N.V. (NASDAQ:SPNS - Free Report) by 50.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,531 shares of the technology company's stock after buying an additional 25,081 shares during the quarter. ARK Investment Management LLC owned approximately 0.13% of Sapiens International worth $2,019,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Royce & Associates LP grew its stake in shares of Sapiens International by 25.9% during the 1st quarter. Royce & Associates LP now owns 1,174,043 shares of the technology company's stock worth $31,805,000 after acquiring an additional 241,340 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Sapiens International in the first quarter valued at about $2,248,000. 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Sapiens International by 2,507.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,876 shares of the technology company's stock valued at $132,000 after purchasing an additional 4,689 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Sapiens International by 467.6% in the first quarter. Rhumbline Advisers now owns 264,065 shares of the technology company's stock worth $7,154,000 after acquiring an additional 217,540 shares during the period. 30.73% of the stock is currently owned by institutional investors and hedge funds.

Sapiens International Price Performance

Shares of SPNS traded down $0.24 during midday trading on Wednesday, reaching $28.61. 38,386 shares of the stock were exchanged, compared to its average volume of 175,202. Sapiens International Corporation N.V. has a twelve month low of $23.69 and a twelve month high of $39.99. The business's 50-day moving average price is $29.13 and its 200 day moving average price is $27.77. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 22.00 and a beta of 0.95.

Sapiens International (NASDAQ:SPNS - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.02. The firm 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 firm's revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 EPS. As a group, equities research analysts expect that Sapiens International Corporation N.V. will post 1.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

SPNS has been the subject of a number of analyst reports. Barclays increased 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. Wall Street Zen lowered Sapiens International from a "buy" rating to a "hold" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $34.25.

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.