Sapiens International Corporation N.V. $SPNS Shares Bought by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its stake in Sapiens International Corporation by 6.9%, acquiring 6,224 additional shares, which brings its total to 96,665 shares valued at approximately $2.6 million.
• Sapiens International has received recent downgrades, with Needham & Company lowering its rating from "buy" to "hold" and setting a price target of $35.00.
• As of the latest reports, Sapiens International's stock is trading at around $43.02, with a 12-month price range between $23.69 and $43.18.

Voya Investment Management LLC grew its holdings in shares of Sapiens International Corporation N.V. (NASDAQ:SPNS - Free Report) by 6.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 96,665 shares of the technology company's stock after purchasing an additional 6,224 shares during the quarter. Voya Investment Management LLC owned approximately 0.17% of Sapiens International worth $2,619,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of 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 worth $132,000 after buying an additional 4,689 shares during the period. GAMMA Investing LLC raised its position in shares of Sapiens International by 3,873.8% in the 1st quarter. GAMMA Investing LLC now owns 14,385 shares of the technology company's stock worth $390,000 after buying an additional 14,023 shares during the period. ProShare Advisors LLC raised its position in shares of Sapiens International by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 8,668 shares of the technology company's stock worth $233,000 after buying an additional 2,851 shares during the period. Nuveen LLC purchased a new position in shares of Sapiens International in the 1st quarter worth $7,044,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Sapiens International in the 4th quarter worth $310,000. 30.73% of the stock is owned by hedge funds and other institutional investors.

Sapiens International Stock Down 0.1%

Shares of SPNS traded down $0.03 during trading on Tuesday, reaching $42.98. The company's stock had a trading volume of 162,753 shares, compared to its average volume of 427,813. The company has a fifty day moving average of $36.89 and a two-hundred day moving average of $31.05. Sapiens International Corporation N.V. has a twelve month low of $23.69 and a twelve month high of $43.18. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 35.23 and a beta of 0.94.

Analyst Ratings Changes

Several research analysts have commented on SPNS shares. Wall Street Zen lowered Sapiens International from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Needham & Company LLC lowered Sapiens International from a "buy" rating to a "hold" rating and set a $35.00 price objective on the stock. in a research report on Wednesday, August 13th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Sapiens International has a consensus 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.