Van ECK Associates Corp Raises Holdings in Sapiens International Co. (NASDAQ:SPNS)

Posted by Defense World Staff on May 18th, 2023

Van ECK Associates Corp raised its holdings in shares of Sapiens International Co. (NASDAQ:SPNS – Get Rating) by 33.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,747 shares of the technology company’s stock after purchasing an additional 2,435 shares during the period. Van ECK Associates Corp’s holdings in Sapiens International were worth $180,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its stake in shares of Sapiens International by 402.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,508 shares of the technology company’s stock worth $124,000 after buying an additional 5,213 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Sapiens International by 21.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,046 shares of the technology company’s stock worth $170,000 after buying an additional 1,253 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Sapiens International by 103.2% in the 3rd quarter. SG Americas Securities LLC now owns 8,554 shares of the technology company’s stock worth $164,000 after buying an additional 4,345 shares during the last quarter. USS Investment Management Ltd purchased a new position in Sapiens International during the first quarter valued at $22,861,000. Finally, Westwood Holdings Group Inc. purchased a new position in Sapiens International during the first quarter valued at $228,000. 23.42% of the stock is currently owned by hedge funds and other institutional investors.

Sapiens International Stock Performance

NASDAQ:SPNS opened at $23.93 on Thursday. The stock’s fifty day moving average is $21.16 and its 200 day moving average is $20.44. Sapiens International Co. has a fifty-two week low of $16.18 and a fifty-two week high of $26.66. The firm has a market capitalization of $1.32 billion, a PE ratio of 25.19 and a beta of 1.26. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.93 and a current ratio of 1.93.

Sapiens International (NASDAQ:SPNS – Get Rating) last announced its quarterly earnings data on Tuesday, February 21st. The technology company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). Sapiens International had a net margin of 10.97% and a return on equity of 16.16%. The business had revenue of $119.46 million during the quarter, compared to the consensus estimate of $120.86 million. During the same period last year, the company earned $0.30 EPS. The business’s revenue was up .2% compared to the same quarter last year. On average, sell-side analysts anticipate that Sapiens International Co. will post 1.23 earnings per share for the current year.

Sapiens International Cuts Dividend

The business also recently disclosed a — dividend, which was paid on Monday, April 24th. Investors of record on Monday, April 10th were given a dividend of $0.25 per share. This represents a yield of 4.5%. The ex-dividend date of this dividend was Thursday, April 6th. Sapiens International’s payout ratio is currently 58.95%.

Analyst Upgrades and Downgrades

SPNS has been the topic of several analyst reports. The Goldman Sachs Group lowered their target price on Sapiens International from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, February 21st. Barclays cut Sapiens International from an “equal weight” rating to an “underweight” rating and set a $24.00 price target on the stock. in a report on Friday, May 5th. Needham & Company LLC raised their price target on Sapiens International from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, February 22nd. Finally, StockNews.com assumed coverage on Sapiens International in a research report on Thursday. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $23.80.

Sapiens International Profile

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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.