Walleye Capital LLC Invests $522,000 in Sapiens International Corporation N.V. $SPNS

Key Points

• Walleye Capital LLC has invested approximately $522,000 in Sapiens International Corporation N.V. by purchasing 19,251 shares, indicating increased institutional interest in the company.
• Multiple hedge funds, including Mirae Asset Global Investments and GAMMA Investing LLC, have significantly increased their stakes in Sapiens International during the 1st quarter, reflecting growing confidence in the technology firm's prospects.
• Analysts have mixed views on Sapiens International, with price targets ranging from $28.00 to $35.00, but the overall sentiment indicates a cautious outlook as several have downgraded their ratings.

Walleye Capital LLC purchased a new stake in Sapiens International Corporation N.V. (NASDAQ:SPNS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 19,251 shares of the technology company's stock, valued at approximately $522,000.

Other hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Sapiens International by 2,507.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,876 shares of the technology company's stock worth $132,000 after purchasing an additional 4,689 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Sapiens International by 3,873.8% during the first quarter. GAMMA Investing LLC now owns 14,385 shares of the technology company's stock valued at $390,000 after buying an additional 14,023 shares during the last quarter. MetLife Investment Management LLC grew its holdings in Sapiens International by 7.3% during the fourth quarter. MetLife Investment Management LLC now owns 18,535 shares of the technology company's stock worth $498,000 after buying an additional 1,263 shares in the last quarter. ProShare Advisors LLC raised its position in Sapiens International by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 8,668 shares of the technology company's stock valued at $233,000 after buying an additional 2,851 shares during the last quarter. Finally, Nuveen LLC bought a new position in Sapiens International during the 1st quarter valued at $7,044,000. Institutional investors and hedge funds own 30.73% of the company's stock.

Sapiens International Stock Performance

SPNS opened at $42.90 on Tuesday. The firm has a market cap of $2.40 billion, a P/E ratio of 35.16 and a beta of 0.94. Sapiens International Corporation N.V. has a fifty-two week low of $23.69 and a fifty-two week high of $42.94. The firm has a 50-day moving average of $32.86 and a 200 day moving average of $29.46.

Wall Street Analysts Forecast Growth

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

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.

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