Rhumbline Advisers Sells 8,922 Shares of Sapiens International Co. (NASDAQ:SPNS)

Rhumbline Advisers decreased its stake in shares of Sapiens International Co. (NASDAQ:SPNS) by 5.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,577 shares of the technology company’s stock after selling 8,922 shares during the period. Rhumbline Advisers’ holdings in Sapiens International were worth $5,041,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new position in shares of Sapiens International during the second quarter worth approximately $34,000. Financial Management Professionals Inc. bought a new position in Sapiens International in the 1st quarter worth approximately $40,000. Lazard Asset Management LLC acquired a new position in Sapiens International during the 1st quarter worth $192,000. Foyston Gordon & Payne Inc bought a new position in Sapiens International in the 1st quarter valued at $217,000. Finally, Principal Financial Group Inc. increased its stake in shares of Sapiens International by 27.3% in the 4th quarter. Principal Financial Group Inc. now owns 11,383 shares of the technology company’s stock valued at $329,000 after buying an additional 2,444 shares during the period. Institutional investors own 30.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SPNS shares. 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 report on Friday, August 2nd. Barclays increased 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. StockNews.com cut Sapiens International from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 2nd. Finally, Needham & Company LLC increased their target price on Sapiens International from $38.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, August 2nd.

Sapiens International Stock Performance

Shares of SPNS opened at $35.96 on Monday. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 30.74 and a beta of 1.25. Sapiens International Co. has a 12 month low of $24.39 and a 12 month high of $41.22. The firm has a fifty day simple moving average of $36.62 and a 200 day simple moving average of $33.80. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.04.

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

Sapiens International Increases Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Thursday, September 12th. Investors of record on Wednesday, August 28th were paid a $0.29 dividend. This represents a yield of 1.6%. The ex-dividend date 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 is 49.57%.

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.