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

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) shares saw unusually-strong trading volume on Thursday . Approximately 2,335,426 shares traded 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

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

Sapiens International Price Performance

The firm has a market capitalization of $2.38 billion, a P/E ratio of 34.95 and a beta of 0.93. The stock has a fifty day moving average of $30.29 and a 200 day moving average of $28.43.

Institutional Trading of Sapiens International

Several hedge funds have recently added to or reduced their stakes in SPNS. GAMMA Investing LLC grew its position in shares of Sapiens International by 73.1% during the 2nd quarter. GAMMA Investing LLC now owns 919 shares of the technology company's stock valued at $27,000 after acquiring an additional 388 shares during the period. Lazard Asset Management LLC lifted its stake in Sapiens International by 1.0% in the second quarter. Lazard Asset Management LLC now owns 44,125 shares of the technology company's stock valued at $1,290,000 after purchasing an additional 439 shares during the last quarter. Johnson Investment Counsel Inc. grew its holdings in Sapiens International by 1.0% during the second quarter. Johnson Investment Counsel Inc. now owns 49,422 shares of the technology company's stock valued at $1,446,000 after purchasing an additional 512 shares during the period. Invesco Ltd. increased its position in Sapiens International by 2.2% in the second quarter. Invesco Ltd. now owns 27,217 shares of the technology company's stock worth $796,000 after buying an additional 582 shares during the last quarter. Finally, Quantbot Technologies LP raised its stake in shares of Sapiens International by 14.3% in the second quarter. Quantbot Technologies LP now owns 6,256 shares of the technology company's stock valued at $183,000 after buying an additional 782 shares during the period. Institutional investors 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.