Sapiens International Co. (NASDAQ:SPNS) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its position in shares of Sapiens International Co. (NASDAQ:SPNS – Get Rating) by 8.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 721,303 shares of the technology company’s stock after selling 68,600 shares during the quarter. Renaissance Technologies LLC owned about 1.31% of Sapiens International worth $13,835,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Board of Administration of Florida Retirement System boosted its holdings in shares of Sapiens International by 37.9% during the third quarter. State Board of Administration of Florida Retirement System now owns 71,646 shares of the technology company’s stock valued at $1,374,000 after acquiring an additional 19,685 shares during the period. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Sapiens International by 13.4% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 79,042 shares of the technology company’s stock valued at $1,516,000 after acquiring an additional 9,349 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Sapiens International by 8.5% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 659,417 shares of the technology company’s stock valued at $12,649,000 after purchasing an additional 51,486 shares in the last quarter. ARK Investment Management LLC raised its stake in shares of Sapiens International by 8.1% during the third quarter. ARK Investment Management LLC now owns 96,234 shares of the technology company’s stock valued at $1,846,000 after purchasing an additional 7,242 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Sapiens International by 8.9% during the second quarter. Swiss National Bank now owns 78,070 shares of the technology company’s stock valued at $1,828,000 after purchasing an additional 6,380 shares in the last quarter. Institutional investors and hedge funds own 23.42% of the company’s stock.

Sapiens International Trading Up 0.8 %

Shares of SPNS opened at $20.67 on Friday. The business’s 50-day moving average price is $21.07 and its 200 day moving average price is $20.13. The stock has a market capitalization of $1.14 billion, a P/E ratio of 21.99 and a beta of 1.28. Sapiens International Co. has a 1-year low of $16.18 and a 1-year high of $26.77. The company has a current ratio of 1.95, a quick ratio of 1.88 and a debt-to-equity ratio of 0.15.

Sapiens International (NASDAQ:SPNS – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The technology company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Sapiens International had a return on equity of 16.16% and a net margin of 11.08%. The company had revenue of $119.46 million during the quarter, compared to analysts’ expectations of $120.86 million. During the same period in the prior year, the business posted $0.30 EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Analysts expect that Sapiens International Co. will post 1.24 earnings per share for the current year.

Analysts Set New Price Targets

SPNS has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut their price objective on shares of Sapiens International from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, February 21st. Barclays lifted their price objective on shares of Sapiens International from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 22nd. Needham & Company LLC boosted their price target on shares of Sapiens International from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, February 22nd. StockNews.com cut shares of Sapiens International from a “strong-buy” rating to a “buy” rating in a research report on Friday. Finally, JPMorgan Chase & Co. initiated coverage on shares of Sapiens International in a research report on Thursday, December 1st. They issued an “underweight” rating and a $20.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $23.80.

About Sapiens International

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Sapiens International Corp. NV provides software solutions for the insurance industry. It offers core, end-to-end solutions to the global general insurance, property and casualty, life, pension and annuities, reinsurance and retirement markets, as well as business decision management software. The company was founded by Joseph Bolless and Ron Zuckerman in 1982 and is headquartered in Holon, Israel.