Sapiens International Corporation N.V. (NASDAQ:SPNS) Sees Significant Decline in Short Interest

Sapiens International Corporation N.V. (NASDAQ:SPNS) saw a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 696,400 shares, a drop of 37.3% from the August 31st total of 1,110,000 shares. Approximately 2.3% of the shares of the company are short sold. Based on an average daily trading volume, of 886,100 shares, the days-to-cover ratio is currently 0.8 days. Based on an average daily trading volume, of 886,100 shares, the days-to-cover ratio is currently 0.8 days. Approximately 2.3% of the shares of the company are short sold.

Sapiens International Trading Up 0.0%

NASDAQ:SPNS opened at $43.04 on Tuesday. The company’s 50-day moving average price is $39.53 and its 200-day moving average price is $32.14. The company has a market cap of $2.41 billion, a P/E ratio of 35.28 and a beta of 0.92. Sapiens International has a twelve month low of $23.69 and a twelve month high of $43.18.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SPNS. Needham & Company LLC downgraded shares of Sapiens International from a “buy” rating to a “hold” rating and set a $35.00 price objective on the stock. in a report on Wednesday, August 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sapiens International in a report on Saturday, September 27th. Finally, Wall Street Zen downgraded shares of Sapiens International from a “buy” rating to a “hold” rating in a report on Friday, July 18th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $31.33.

Hedge Funds Weigh In On Sapiens International

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in shares of Sapiens International by 73.1% in the second quarter. GAMMA Investing LLC now owns 919 shares of the technology company’s stock worth $27,000 after buying an additional 388 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Sapiens International by 2,216.7% in the first quarter. Larson Financial Group LLC now owns 973 shares of the technology company’s stock worth $26,000 after buying an additional 931 shares in the last quarter. CWM LLC raised its stake in Sapiens International by 262.5% during the second quarter. CWM LLC now owns 1,526 shares of the technology company’s stock worth $45,000 after purchasing an additional 1,105 shares during the period. Tower Research Capital LLC TRC raised its stake in Sapiens International by 333.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,975 shares of the technology company’s stock worth $116,000 after purchasing an additional 3,058 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Sapiens International by 2,507.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,876 shares of the technology company’s stock worth $132,000 after purchasing an additional 4,689 shares during the period. 30.73% of the stock is owned by hedge funds and other institutional investors.

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.