Principal Financial Group Inc. Has $658,000 Holdings in Sapiens International Co. (NASDAQ:SPNS)

Principal Financial Group Inc. lifted its position in Sapiens International Co. (NASDAQ:SPNS) by 11.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,392 shares of the technology company’s stock after acquiring an additional 1,948 shares during the period. Principal Financial Group Inc.’s holdings in Sapiens International were worth $658,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Summit Securities Group LLC acquired a new position in Sapiens International during the 2nd quarter worth $34,000. Financial Management Professionals Inc. acquired a new position in shares of Sapiens International during the first quarter worth approximately $40,000. Lazard Asset Management LLC bought a new stake in shares of Sapiens International in the first quarter valued at approximately $192,000. Foyston Gordon & Payne Inc acquired a new stake in shares of Sapiens International in the first quarter worth $217,000. Finally, 1620 Investment Advisors Inc. grew its position in Sapiens International by 16.6% in the 2nd quarter. 1620 Investment Advisors Inc. now owns 11,551 shares of the technology company’s stock worth $392,000 after purchasing an additional 1,643 shares during the last quarter. Hedge funds and other institutional investors own 30.73% of the company’s stock.

Sapiens International Stock Up 1.4 %

Shares of NASDAQ SPNS opened at $35.96 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a market cap of $1.98 billion, a PE ratio of 30.74 and a beta of 1.25. Sapiens International Co. has a 52-week low of $24.39 and a 52-week high of $41.22. The business has a fifty day moving average of $36.60 and a two-hundred day moving average of $33.74.

Sapiens International (NASDAQ:SPNS) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $136.80 million for the quarter, compared to analyst estimates of $137.78 million. Sapiens International had a return on equity of 17.60% and a net margin of 12.92%. Sapiens International’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 EPS. As a group, equities research analysts expect that Sapiens International Co. will post 1.42 earnings per share for the current fiscal year.

Sapiens International Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Thursday, September 12th. Shareholders of record on Wednesday, August 28th were given a $0.29 dividend. This represents a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, August 28th. This is a boost from Sapiens International’s previous Semi-Annual dividend of $0.28. Sapiens International’s dividend payout ratio (DPR) is presently 49.57%.

Wall Street Analysts Forecast Growth

SPNS has been the topic of several research reports. Barclays boosted their price target on Sapiens International from $30.00 to $38.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group increased their price objective on shares of Sapiens International from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. StockNews.com lowered shares of Sapiens International from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 2nd. Finally, Needham & Company LLC increased their price target on shares of Sapiens International from $38.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd.

Sapiens International 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.