Mirae Asset Global Investments Co. Ltd. Trims Holdings in Sapiens International Co. (NASDAQ:SPNS)

Mirae Asset Global Investments Co. Ltd. trimmed its position in Sapiens International Co. (NASDAQ:SPNS) by 3.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 78,823 shares of the technology company’s stock after selling 3,018 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Sapiens International were worth $2,281,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its holdings in shares of Sapiens International by 284.9% during the 3rd quarter. Acadian Asset Management LLC now owns 785,265 shares of the technology company’s stock worth $22,301,000 after acquiring an additional 581,272 shares during the period. Millennium Management LLC lifted its holdings in shares of Sapiens International by 501.7% during the 2nd quarter. Millennium Management LLC now owns 302,028 shares of the technology company’s stock worth $7,306,000 after acquiring an additional 251,831 shares during the period. Bank of America Corp DE lifted its holdings in shares of Sapiens International by 122.9% during the 4th quarter. Bank of America Corp DE now owns 240,975 shares of the technology company’s stock worth $4,453,000 after acquiring an additional 132,885 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Sapiens International by 17.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 800,680 shares of the technology company’s stock worth $17,390,000 after acquiring an additional 116,975 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Sapiens International by 50.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 321,691 shares of the technology company’s stock worth $8,557,000 after acquiring an additional 108,183 shares during the period. 30.73% of the stock is currently owned by hedge funds and other institutional investors.

Sapiens International Trading Down 0.3 %

NASDAQ SPNS opened at $30.17 on Friday. Sapiens International Co. has a one year low of $19.91 and a one year high of $35.33. The company’s 50 day moving average price is $30.55 and its 200 day moving average price is $28.17. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.11 and a current ratio of 2.11. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 26.94 and a beta of 1.16.

Sapiens International (NASDAQ:SPNS) last posted its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. Sapiens International had a net margin of 12.14% and a return on equity of 16.92%. The firm had revenue of $130.86 million for the quarter, compared to analyst estimates of $130.85 million. During the same quarter last year, the firm posted $0.31 earnings per share. Sapiens International’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, sell-side analysts predict that Sapiens International Co. will post 1.37 EPS for the current year.

Sapiens International Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Thursday, April 18th. Shareholders of record on Friday, April 5th were given a $0.28 dividend. This is an increase from Sapiens International’s previous Semi-Annual dividend of $0.26. The ex-dividend date was Thursday, April 4th. This represents a yield of 1.7%. Sapiens International’s dividend payout ratio (DPR) is 50.00%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SPNS. Barclays increased their price objective on shares of Sapiens International from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Wednesday, February 21st. The Goldman Sachs Group increased their price objective on shares of Sapiens International from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Sapiens International presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.33.

About Sapiens International

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.