Sapiens International (NASDAQ:SPNS) Reaches New 12-Month High - Here's What Happened

Key Points

• Sapiens International's stock reached a new **52-week high** of $43.18 during trading, closing at $43.10 with a total volume of 741 shares.
• Several analysts have downgraded the stock's rating to **"hold"**, with an average target price set at **$31.33** following the recent adjustments by various research firms.
• Institutional investors significantly increased their holdings, with Larson Financial Group growing its stake by **2,216.7%** in the first quarter, indicating increased interest from hedge funds in Sapiens International.

Sapiens International Corporation N.V. (NASDAQ:SPNS - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $43.18 and last traded at $43.10, with a volume of 741 shares trading hands. The stock had previously closed at $43.09.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SPNS. Weiss Ratings reissued a "hold (c)" rating on shares of Sapiens International in a research report on Wednesday, October 8th. Wall Street Zen downgraded Sapiens International from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Needham & Company LLC downgraded Sapiens International from a "buy" rating to a "hold" rating and set a $35.00 target price on the stock. in a research report on Wednesday, August 13th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $31.33.

Sapiens International Stock Performance

The firm's 50-day moving average is $42.38 and its two-hundred day moving average is $33.13. The stock has a market cap of $2.42 billion, a P/E ratio of 35.38 and a beta of 0.92.

Hedge Funds Weigh In On Sapiens International

Institutional investors and hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC grew its holdings in shares of Sapiens International by 2,216.7% in the 1st quarter. Larson Financial Group LLC now owns 973 shares of the technology company's stock valued at $26,000 after buying an additional 931 shares during the period. GAMMA Investing LLC boosted its stake in Sapiens International by 73.1% in the 2nd quarter. GAMMA Investing LLC now owns 919 shares of the technology company's stock worth $27,000 after purchasing an additional 388 shares during the period. CWM LLC boosted its stake in Sapiens International by 262.5% in the 2nd quarter. CWM LLC now owns 1,526 shares of the technology company's stock worth $45,000 after purchasing an additional 1,105 shares during the period. Tower Research Capital LLC TRC boosted its stake in Sapiens International by 333.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,975 shares of the technology company's stock worth $116,000 after purchasing an additional 3,058 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 purchasing an additional 4,689 shares during the period. 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.

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