Renaissance Technologies LLC Buys 87,001 Shares of Sapiens International Co. (NASDAQ:SPNS)

Renaissance Technologies LLC increased its stake in shares of Sapiens International Co. (NASDAQ:SPNS) by 14.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 681,004 shares of the technology company’s stock after acquiring an additional 87,001 shares during the quarter. Renaissance Technologies LLC’s holdings in Sapiens International were worth $23,106,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of SPNS. Summit Securities Group LLC bought a new stake in shares of Sapiens International during the second quarter worth approximately $34,000. Financial Management Professionals Inc. bought a new stake in Sapiens International in the 1st quarter valued at $40,000. Morgan Dempsey Capital Management LLC grew its holdings in Sapiens International by 9.5% in the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 4,206 shares of the technology company’s stock valued at $143,000 after buying an additional 365 shares in the last quarter. Lazard Asset Management LLC bought a new position in Sapiens International during the 1st quarter worth $192,000. Finally, Foyston Gordon & Payne Inc acquired a new stake in shares of Sapiens International during the first quarter worth $217,000. Institutional investors and hedge funds own 30.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SPNS shares. StockNews.com upgraded shares of Sapiens International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Needham & Company LLC increased their target price 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. Barclays lifted their price target on shares of Sapiens International from $30.00 to $38.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group boosted their price target on Sapiens International from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, August 2nd.

Sapiens International Trading Down 1.5 %

Shares of Sapiens International stock opened at $35.94 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.04. Sapiens International Co. has a 12-month low of $24.39 and a 12-month high of $41.22. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 30.72 and a beta of 1.25. The firm’s 50-day moving average price is $36.61 and its two-hundred day moving average price is $33.97.

Sapiens International (NASDAQ:SPNS) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. Sapiens International had a net margin of 12.92% and a return on equity of 17.60%. The business had revenue of $136.80 million for the quarter, compared to analyst estimates of $137.78 million. During the same quarter last year, the business posted $0.31 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts forecast that Sapiens International Co. will post 1.42 earnings per share 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. Stockholders of record on Wednesday, August 28th were issued a dividend of $0.29 per share. The ex-dividend date was Wednesday, August 28th. This represents a dividend yield of 1.6%. This is a boost from Sapiens International’s previous Semi-Annual dividend of $0.28. Sapiens International’s payout ratio is 49.57%.

About Sapiens International

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.