Short Interest in Sapiens International Corporation N.V. (NASDAQ:SPNS) Drops By 37.3%

Key Points

• Short interest in Sapiens International Corporation N.V. dropped by 37.3% in September, with 696,400 shares sold short as of September 15th.
• Wall Street analysts have predominantly issued hold ratings, with a consensus price target of $31.33 for the stock.
• Several hedge funds increased their stakes in Sapiens International, with Goldman Sachs Group Inc. lifting its stake by 227.2% in the first quarter.

Sapiens International Corporation N.V. (NASDAQ:SPNS - Get Free Report) was the recipient of a significant decline in short interest in September. As of September 15th, there was short interest totaling 696,400 shares, a decline of 37.3% from the August 31st total of 1,110,000 shares. Based on an average daily trading volume, of 886,100 shares, the days-to-cover ratio is presently 0.8 days. Approximately 2.3% of the shares of the stock are sold short. Approximately 2.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 886,100 shares, the days-to-cover ratio is presently 0.8 days.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SPNS shares. Wall Street Zen downgraded shares of Sapiens International from a "buy" rating to a "hold" rating in a report 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 price target on the stock. in a research report on Wednesday, August 13th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Sapiens International in a research report on Saturday, September 27th. 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, Sapiens International currently has a consensus rating of "Reduce" and a consensus price target of $31.33.

Institutional Trading of Sapiens International

A number of hedge funds have recently added to or reduced their stakes in SPNS. Goldman Sachs Group Inc. lifted its stake in Sapiens International by 227.2% in the first quarter. Goldman Sachs Group Inc. now owns 550,343 shares of the technology company's stock worth $14,909,000 after acquiring an additional 382,138 shares during the period. Nuveen LLC purchased a new stake in Sapiens International in the first quarter worth about $7,044,000. Millennium Management LLC lifted its stake in Sapiens International by 217.1% in the first quarter. Millennium Management LLC now owns 371,368 shares of the technology company's stock worth $10,060,000 after acquiring an additional 254,259 shares during the period. Royce & Associates LP lifted its stake in Sapiens International by 25.9% in the first quarter. Royce & Associates LP now owns 1,174,043 shares of the technology company's stock worth $31,805,000 after acquiring an additional 241,340 shares during the period. Finally, Rhumbline Advisers lifted its stake in Sapiens International by 467.6% in the first quarter. Rhumbline Advisers now owns 264,065 shares of the technology company's stock worth $7,154,000 after acquiring an additional 217,540 shares during the period. 30.73% of the stock is owned by hedge funds and other institutional investors.

Sapiens International Trading Up 0.0%

Shares of SPNS opened at $43.02 on Friday. The firm has a market capitalization of $2.40 billion, a P/E ratio of 35.26 and a beta of 0.92. Sapiens International has a 12-month low of $23.69 and a 12-month high of $43.18. The firm has a fifty day moving average price of $39.26 and a 200-day moving average price of $32.00.

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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