Magnetar Financial LLC Buys Shares of 6,956 Sapiens International Co. (NASDAQ:SPNS)

Magnetar Financial LLC purchased a new position in Sapiens International Co. (NASDAQ:SPNS) during the second quarter, Holdings Channel reports. The institutional investor purchased 6,956 shares of the technology company’s stock, valued at approximately $236,000.

A number of other institutional investors also recently modified their holdings of SPNS. Morgan Dempsey Capital Management LLC lifted its holdings in Sapiens International by 9.5% in the second 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 during the period. Foyston Gordon & Payne Inc increased its position in Sapiens International by 8.2% in the 2nd quarter. Foyston Gordon & Payne Inc now owns 7,317 shares of the technology company’s stock valued at $248,000 after buying an additional 556 shares in the last quarter. Summit Securities Group LLC bought a new position in Sapiens International in the second quarter worth approximately $34,000. XTX Topco Ltd lifted its holdings in shares of Sapiens International by 13.5% in the 2nd quarter. XTX Topco Ltd now owns 8,881 shares of the technology company’s stock worth $301,000 after purchasing an additional 1,053 shares in the last quarter. Finally, Financial Management Professionals Inc. acquired a new position in shares of Sapiens International during the first quarter valued at about $40,000. 30.73% of the stock is owned by institutional investors.

Sapiens International Stock Performance

Shares of SPNS opened at $36.06 on Thursday. Sapiens International Co. has a 1 year low of $24.39 and a 1 year high of $41.22. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.16 and a quick ratio of 2.16. The stock’s fifty day moving average price is $36.43 and its two-hundred day moving average price is $34.13. The firm has a market cap of $1.99 billion, a PE ratio of 30.82 and a beta of 1.25.

Sapiens International (NASDAQ:SPNS) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.37 EPS for the quarter, beating 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 the consensus estimate of $137.78 million. During the same period in the prior year, the firm earned $0.31 earnings per share. The company’s revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts forecast that Sapiens International Co. will post 1.42 EPS for the current year.

Sapiens International Increases Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Thursday, September 12th. Shareholders of record on Wednesday, August 28th were given 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 an increase from Sapiens International’s previous Semi-Annual dividend of $0.28. Sapiens International’s dividend payout ratio is currently 49.57%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SPNS. The Goldman Sachs Group raised their target price on Sapiens International from $38.00 to $43.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Needham & Company LLC upped their target price on shares of Sapiens International from $38.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. StockNews.com raised shares of Sapiens International from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, Barclays lifted their target price on Sapiens International from $30.00 to $38.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd.

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.