Synovus Financial Corp boosted its stake in shares of Sapiens International Co. (NASDAQ:SPNS – Get Rating) by 5.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,682 shares of the technology company’s stock after buying an additional 3,538 shares during the quarter. Synovus Financial Corp owned approximately 0.13% of Sapiens International worth $1,376,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Sapiens International by 1.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,135,189 shares of the technology company’s stock worth $27,460,000 after acquiring an additional 11,813 shares during the period. Vanguard Group Inc. lifted its position in shares of Sapiens International by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 993,460 shares of the technology company’s stock worth $25,224,000 after purchasing an additional 16,306 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Sapiens International by 15.1% in the 2nd quarter. Renaissance Technologies LLC now owns 789,903 shares of the technology company’s stock valued at $19,108,000 after purchasing an additional 103,412 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Sapiens International by 9.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 528,509 shares of the technology company’s stock valued at $13,419,000 after purchasing an additional 43,672 shares during the last quarter. Finally, State Street Corp increased its position in shares of Sapiens International by 1.6% during the second quarter. State Street Corp now owns 475,112 shares of the technology company’s stock worth $11,493,000 after buying an additional 7,546 shares during the period. Institutional investors own 23.42% of the company’s stock.
Sapiens International Price Performance
SPNS stock opened at $19.10 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.88 and a quick ratio of 1.88. The company’s 50-day moving average is $18.73 and its 200-day moving average is $20.82. The stock has a market capitalization of $1.05 billion, a PE ratio of 20.11 and a beta of 1.27. Sapiens International Co. has a 1 year low of $16.18 and a 1 year high of $33.79.
Wall Street Analyst Weigh In
A number of analysts have commented on SPNS shares. TheStreet cut shares of Sapiens International from a “b-” rating to a “c+” rating in a research report on Wednesday, October 5th. JPMorgan Chase & Co. initiated coverage on Sapiens International in a research note on Thursday, December 1st. They set an “underweight” rating and a $20.00 target price for the company. StockNews.com downgraded Sapiens International from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 20th. Finally, Needham & Company LLC cut their price target on Sapiens International from $30.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, November 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $22.33.
Sapiens International Company Profile
Sapiens International Corporation N.V. provides software solutions for the insurance and financial services industries in North America, the European Union, the United Kingdom, Israel, and internationally. The company offers Sapiens CoreSuite and Sapiens IDITSuite for personal, commercial, and specialty lines; and Sapiens CoreSuite, Sapiens UnderwritingPro, Sapiens ApplicationPro, Sapiens IllustrationPro, and Sapiens ConsolidationMaster for life, pension, and annuities.
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