Sapiens International Co. (NASDAQ:SPNS) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC trimmed its stake in shares of Sapiens International Co. (NASDAQ:SPNS) by 0.3% during the third quarter, Holdings Channel reports. The firm owned 408,948 shares of the technology company’s stock after selling 1,151 shares during the period. Geode Capital Management LLC’s holdings in Sapiens International were worth $15,241,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in SPNS. Barclays PLC increased its position in Sapiens International by 415.1% in the third quarter. Barclays PLC now owns 54,640 shares of the technology company’s stock worth $2,036,000 after buying an additional 44,033 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Sapiens International during the third quarter worth about $2,255,000. Zacks Investment Management increased its holdings in shares of Sapiens International by 42.2% in the 3rd quarter. Zacks Investment Management now owns 17,734 shares of the technology company’s stock worth $661,000 after acquiring an additional 5,259 shares during the period. National Bank of Canada FI bought a new stake in Sapiens International in the 3rd quarter valued at about $26,000. Finally, Wellington Management Group LLP lifted its position in Sapiens International by 14.6% in the 3rd quarter. Wellington Management Group LLP now owns 594,552 shares of the technology company’s stock valued at $22,159,000 after purchasing an additional 75,866 shares during the last quarter. Institutional investors own 30.73% of the company’s stock.

Sapiens International Stock Performance

Shares of NASDAQ SPNS opened at $27.13 on Monday. Sapiens International Co. has a 1 year low of $26.34 and a 1 year high of $41.22. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.18 and a current ratio of 2.18. The stock has a fifty day moving average price of $30.79 and a two-hundred day moving average price of $34.17. The firm has a market cap of $1.52 billion, a P/E ratio of 21.36 and a beta of 1.15.

Sapiens International (NASDAQ:SPNS) last issued its quarterly earnings results on Monday, November 11th. The technology company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). The business had revenue of $137.00 million during the quarter, compared to the consensus estimate of $140.10 million. Sapiens International had a return on equity of 17.61% and a net margin of 13.23%. Sapiens International’s revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 earnings per share. Research analysts forecast that Sapiens International Co. will post 1.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SPNS shares. Barclays dropped their price target on shares of Sapiens International from $38.00 to $30.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 12th. StockNews.com lowered Sapiens International from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 19th. Needham & Company LLC cut their target price on Sapiens International from $44.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, William Blair reissued a “market perform” rating on shares of Sapiens International in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sapiens International currently has an average rating of “Hold” and a consensus target price of $36.00.

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.