Sapiens International (NASDAQ:SPNS) Sets New 12-Month High - Should You Buy?

Key Points

• Sapiens International Corporation shares reached a new 52-week high of $43.16, with a market capitalization of $2.40 billion.
• Analysts have downgraded the stock from a "buy" to a "hold" rating, with a consensus target price of $31.33.
• Institutional ownership of Sapiens International has increased significantly, with major stakeholders increasing their positions by over 2,500% in some cases.

Sapiens International Corporation N.V. (NASDAQ:SPNS - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $43.16 and last traded at $43.15, with a volume of 255304 shares traded. The stock had previously closed at $43.05.

Analyst Upgrades and Downgrades

SPNS has been the topic of a number of recent research reports. Needham & Company LLC cut Sapiens International from a "buy" rating to a "hold" rating and set a $35.00 target price on the stock. in a research note on Wednesday, August 13th. Wall Street Zen lowered Sapiens International from a "buy" rating to a "hold" rating in a research report 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $31.33.

Sapiens International Trading Down 0.1%

The company has a 50 day moving average of $36.63 and a 200 day moving average of $30.95. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 35.26 and a beta of 0.94.

Hedge Funds Weigh In On Sapiens International

Institutional investors and hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its position 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 worth $132,000 after acquiring an additional 4,689 shares during the last quarter. GAMMA Investing LLC increased its holdings in Sapiens International by 3,873.8% in the first quarter. GAMMA Investing LLC now owns 14,385 shares of the technology company's stock valued at $390,000 after purchasing an additional 14,023 shares during the last quarter. ProShare Advisors LLC increased its holdings in Sapiens International by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 8,668 shares of the technology company's stock valued at $233,000 after purchasing an additional 2,851 shares during the last quarter. Nuveen LLC bought a new stake in Sapiens International in the first quarter valued at about $7,044,000. Finally, Deutsche Bank AG increased its holdings in Sapiens International by 15.4% in the fourth quarter. Deutsche Bank AG now owns 67,865 shares of the technology company's stock valued at $1,824,000 after purchasing an additional 9,078 shares during the last quarter. Institutional investors and hedge funds own 30.73% of the company's stock.

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.