Sapiens International (NASDAQ:SPNS) Sets New 52-Week High After Strong Earnings

Key Points

• Sapiens International's stock price soared to a new 52-week high of $42.63 after reporting strong quarterly earnings, exceeding analysts' expectations with an EPS of $0.33.
• Analyst ratings for Sapiens International show a mix of opinions, with an average rating of "Hold" and a price target of $31.33 from various research reports.
• Institutional investors have significantly increased their stake in Sapiens International, with several hedge funds expanding their positions by substantial percentages in recent quarters.

Sapiens International Corporation N.V. (NASDAQ:SPNS - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $42.58 and last traded at $42.63, with a volume of 4775693 shares changing hands. The stock had previously closed at $29.50.

The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. Sapiens International had a net margin of 13.37% and a return on equity of 17.30%.

Analyst Ratings Changes

SPNS has been the topic of several research reports. Barclays raised 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. Wall Street Zen lowered Sapiens International from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $31.33.

Hedge Funds Weigh In On Sapiens International

Several hedge funds and other institutional investors have recently bought and sold shares of SPNS. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Sapiens International by 2,507.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,876 shares of the technology company's stock valued at $132,000 after purchasing an additional 4,689 shares during the last quarter. GAMMA Investing LLC increased its position in Sapiens International by 3,873.8% during the first quarter. GAMMA Investing LLC now owns 14,385 shares of the technology company's stock worth $390,000 after buying an additional 14,023 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Sapiens International by 7.3% in the fourth quarter. MetLife Investment Management LLC now owns 18,535 shares of the technology company's stock worth $498,000 after acquiring an additional 1,263 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of 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 acquiring an additional 2,851 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Sapiens International by 3.6% during the fourth quarter. Barclays PLC now owns 56,586 shares of the technology company's stock valued at $1,520,000 after acquiring an additional 1,946 shares during the last quarter. 30.73% of the stock is owned by institutional investors and hedge funds.

Sapiens International Stock Performance

The company has a market capitalization of $2.38 billion, a PE ratio of 32.80 and a beta of 0.93. The stock's fifty day simple moving average is $28.99 and its 200-day simple moving average is $27.88.

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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