Sapiens International (NASDAQ:SPNS) Sets New 1-Year High - Here's Why

Key Points

• Sapiens International shares hit a new 52-week high of $42.96, marking a significant increase in trading volume of 526,743 shares.
• Wall Street analysts have generally downgraded the stock's rating, with three analysts rating it as "Hold," while Barclays increased the target price from $28.00 to $31.00.
• Institutional investors are actively increasing their positions in Sapiens International, with First Trust Advisors LP growing its holdings by 41.7% in the latest quarter.

Sapiens International Corporation N.V. (NASDAQ:SPNS - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $42.95 and last traded at $42.96, with a volume of 526743 shares. The stock had previously closed at $42.90.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SPNS. Wall Street Zen cut shares of Sapiens International from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Needham & Company LLC cut shares of 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. Finally, Barclays increased 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. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $31.33.

Sapiens International Stock Performance

The company's 50-day moving average price is $33.13 and its two-hundred day moving average price is $29.55. The stock has a market cap of $2.40 billion, a PE ratio of 35.18 and a beta of 0.95.

Hedge Funds Weigh In On Sapiens International

Several institutional investors and hedge funds have recently made changes to their positions in SPNS. First Trust Advisors LP grew its holdings in shares of Sapiens International by 41.7% during the 4th quarter. First Trust Advisors LP now owns 58,823 shares of the technology company's stock valued at $1,581,000 after purchasing an additional 17,304 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Sapiens International by 3.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,077,821 shares of the technology company's stock valued at $28,961,000 after purchasing an additional 32,126 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of Sapiens International by 7.3% during the 4th quarter. MetLife Investment Management LLC now owns 18,535 shares of the technology company's stock valued at $498,000 after purchasing an additional 1,263 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Sapiens International by 1.2% during the 4th quarter. Northern Trust Corp now owns 226,353 shares of the technology company's stock valued at $6,082,000 after purchasing an additional 2,641 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Sapiens International by 45.3% during the 4th quarter. Jane Street Group LLC now owns 79,863 shares of the technology company's stock valued at $2,146,000 after purchasing an additional 24,890 shares during the last quarter. 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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