Sapiens International (NASDAQ:SPNS) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• Sapiens International Corporation experienced an **unusual spike in trading volume**, with 2,335,426 shares traded, marking a **618% increase** from the previous day.
• A number of analysts have **downgraded** the stock's rating, with Wall Street Zen moving from "buy" to "hold," while the average price target has been set at **$31.33**.
• Institutional investors collectively hold **30.73%** of Sapiens International's stock, with significant increases in holdings by both Mirae Asset Global Investments and GAMMA Investing in Q1 2023.

Sapiens International Corporation N.V. (NASDAQ:SPNS - Get Free Report) saw strong trading volume on Thursday . 2,335,426 shares changed hands during mid-day trading, an increase of 618% from the previous session's volume of 325,072 shares.The stock last traded at $42.54 and had previously closed at $42.56.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wall Street Zen downgraded shares of Sapiens International from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Barclays lifted their price target 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. Finally, Needham & Company LLC downgraded shares of Sapiens International from a "moderate buy" rating to a "hold" rating and set a $35.00 price target on the stock. in a research note on Wednesday. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $31.33.

Sapiens International Trading Down 0.1%

The stock has a market cap of $2.38 billion, a PE ratio of 32.73 and a beta of 0.93. The company's 50 day moving average is $29.25 and its 200-day moving average is $27.98.

Institutional Investors Weigh In On Sapiens International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased 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 purchasing an additional 4,689 shares during the last quarter. GAMMA Investing LLC increased 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 purchasing an additional 14,023 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Sapiens International by 7.3% in the 4th quarter. MetLife Investment Management LLC now owns 18,535 shares of the technology company's stock valued at $498,000 after buying an additional 1,263 shares during the period. ProShare Advisors LLC boosted its holdings 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 valued at $233,000 after buying an additional 2,851 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Sapiens International by 3.6% in the 4th quarter. Barclays PLC now owns 56,586 shares of the technology company's stock valued at $1,520,000 after buying an additional 1,946 shares during the period. Institutional investors own 30.73% of the company's stock.

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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