Mirae Asset Global Investments Co. Ltd. Buys 4,689 Shares of Sapiens International Corporation N.V. (NASDAQ:SPNS)

Mirae Asset Global Investments Co. Ltd. raised its stake in Sapiens International Corporation N.V. (NASDAQ:SPNS) by 2,507.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,876 shares of the technology company’s stock after acquiring an additional 4,689 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Sapiens International were worth $132,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its position in shares of Sapiens International by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,096 shares of the technology company’s stock valued at $1,991,000 after buying an additional 874 shares in the last quarter. Nebula Research & Development LLC raised its position in shares of Sapiens International by 9.3% during the 4th quarter. Nebula Research & Development LLC now owns 13,361 shares of the technology company’s stock valued at $359,000 after buying an additional 1,133 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Sapiens International by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 410,133 shares of the technology company’s stock valued at $11,020,000 after buying an additional 1,185 shares in the last quarter. Synovus Financial Corp raised its position in shares of Sapiens International by 2.1% during the 4th quarter. Synovus Financial Corp now owns 61,509 shares of the technology company’s stock valued at $1,653,000 after buying an additional 1,256 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in Sapiens International by 7.3% during the 4th quarter. MetLife Investment Management LLC now owns 18,535 shares of the technology company’s stock valued at $498,000 after purchasing an additional 1,263 shares during the last quarter. 30.73% of the stock is currently owned by institutional investors.

Sapiens International Price Performance

Shares of SPNS stock opened at $30.04 on Monday. The company has a market capitalization of $1.68 billion, a P/E ratio of 23.10 and a beta of 0.95. The company’s 50-day simple moving average is $28.60 and its two-hundred day simple moving average is $27.41. Sapiens International Corporation N.V. has a one year low of $23.69 and a one year high of $41.22.

Sapiens International (NASDAQ:SPNS) last issued its earnings results on Thursday, May 8th. The technology company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $136.11 million for the quarter, compared to the consensus estimate of $136.25 million. Sapiens International had a net margin of 13.37% and a return on equity of 17.30%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS. On average, research analysts expect that Sapiens International Corporation N.V. will post 1.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Barclays upped their price target on shares of Sapiens International from $28.00 to $31.00 and gave the company an “underweight” rating in a report on Friday, May 9th. Wall Street Zen upgraded shares of Sapiens International from a “hold” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $34.25.

Sapiens International Company Profile

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.