Migdal Insurance & Financial Holdings Ltd. Buys New Stake in Sapiens International Corporation N.V. (NASDAQ:SPNS)

Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Sapiens International Corporation N.V. (NASDAQ:SPNS) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 83,001 shares of the technology company’s stock, valued at approximately $2,248,000. Migdal Insurance & Financial Holdings Ltd. owned about 0.15% of Sapiens International as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Larson Financial Group LLC increased its stake in Sapiens International by 2,216.7% during the 1st quarter. Larson Financial Group LLC now owns 973 shares of the technology company’s stock valued at $26,000 after purchasing an additional 931 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Sapiens International by 2,507.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,876 shares of the technology company’s stock valued at $132,000 after purchasing an additional 4,689 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Sapiens International by 467.6% in the first quarter. Rhumbline Advisers now owns 264,065 shares of the technology company’s stock worth $7,154,000 after acquiring an additional 217,540 shares during the period. GAMMA Investing LLC raised its holdings in shares of Sapiens International by 3,873.8% during the first quarter. GAMMA Investing LLC now owns 14,385 shares of the technology company’s stock worth $390,000 after purchasing an additional 14,023 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Sapiens International by 10.9% during the fourth quarter. Wellington Management Group LLP now owns 659,524 shares of the technology company’s stock worth $17,721,000 after purchasing an additional 64,972 shares during the last quarter. Institutional investors and hedge funds own 30.73% of the company’s stock.

Wall Street Analysts Forecast Growth

SPNS has been the subject of several recent research reports. Wall Street Zen raised shares of Sapiens International from a “hold” rating to a “buy” rating in a report on Saturday, July 5th. Barclays raised their price target on shares of Sapiens International from $28.00 to $31.00 and gave the company an “underweight” rating in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $34.25.

Sapiens International Trading Up 0.4%

SPNS stock traded up $0.12 during trading on Friday, reaching $30.18. 13,900 shares of the stock were exchanged, compared to its average volume of 158,619. The business has a 50 day moving average price of $28.93 and a 200-day moving average price of $27.56. Sapiens International Corporation N.V. has a 1 year low of $23.69 and a 1 year high of $41.22. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 23.12 and a beta of 0.95.

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. Sapiens International had a net margin of 13.37% and a return on equity of 17.30%. The company had revenue of $136.11 million for the quarter, compared to the consensus estimate of $136.25 million. During the same period in the previous year, the firm earned $0.36 earnings per share. Sapiens International’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, research analysts anticipate that Sapiens International Corporation N.V. will post 1.42 EPS for the current year.

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.