Allspring Global Investments Holdings LLC Purchases New Position in Sapiens International Co. (NASDAQ:SPNS)

Allspring Global Investments Holdings LLC purchased a new stake in shares of Sapiens International Co. (NASDAQ:SPNS – Get Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 88,655 shares of the technology company’s stock, valued at approximately $1,700,000. Allspring Global Investments Holdings LLC owned approximately 0.16% of Sapiens International as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SPNS. Bank of New York Mellon Corp boosted its holdings in Sapiens International by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 80,168 shares of the technology company’s stock worth $2,036,000 after purchasing an additional 485 shares during the last quarter. Rhumbline Advisers boosted its holdings in Sapiens International by 2.7% in the first quarter. Rhumbline Advisers now owns 29,814 shares of the technology company’s stock worth $757,000 after purchasing an additional 796 shares during the last quarter. Westwood Holdings Group Inc. purchased a new stake in Sapiens International in the first quarter worth approximately $228,000. Dimensional Fund Advisors LP boosted its holdings in Sapiens International by 9.0% in the first quarter. Dimensional Fund Advisors LP now owns 528,509 shares of the technology company’s stock worth $13,419,000 after purchasing an additional 43,672 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Sapiens International by 1.7% in the first 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 last quarter. Institutional investors own 23.42% of the company’s stock.

Sapiens International Stock Up 2.3 %

Shares of SPNS stock opened at $21.51 on Friday. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 22.64 and a beta of 1.27. Sapiens International Co. has a one year low of $16.18 and a one year high of $32.54. The company’s fifty day moving average price is $19.22 and its 200-day moving average price is $20.63. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.88 and a quick ratio of 1.88.

Sapiens International (NASDAQ:SPNS – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The technology company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $119.00 million for the quarter, compared to the consensus estimate of $121.90 million. Sapiens International had a net margin of 11.15% and a return on equity of 15.95%. Sell-side analysts expect that Sapiens International Co. will post 1.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Sapiens International in a research note on Thursday, December 1st. They set an “underweight” rating and a $20.00 price target on the stock. Needham & Company LLC dropped their price target on shares of Sapiens International from $30.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, November 4th. StockNews.com cut shares of Sapiens International from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 20th. Finally, TheStreet cut shares of Sapiens International from a “b-” rating to a “c+” rating in a research note on Wednesday, October 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $22.33.

About Sapiens International

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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.