State Street Corp Cuts Holdings in Sapiens International Co. (NASDAQ:SPNS)

State Street Corp reduced its position in shares of Sapiens International Co. (NASDAQ:SPNS) by 8.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 551,438 shares of the technology company’s stock after selling 52,182 shares during the period. State Street Corp’s holdings in Sapiens International were worth $20,552,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of SPNS. Y.D. More Investments Ltd acquired a new stake in Sapiens International in the second quarter valued at approximately $6,915,000. Bank of New York Mellon Corp grew its stake in Sapiens International by 17.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 101,356 shares of the technology company’s stock valued at $3,439,000 after acquiring an additional 15,098 shares during the period. SG Americas Securities LLC acquired a new position in Sapiens International during the third quarter worth $584,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Sapiens International by 74.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,463 shares of the technology company’s stock valued at $614,000 after purchasing an additional 7,022 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Sapiens International by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,036,915 shares of the technology company’s stock valued at $35,183,000 after purchasing an additional 25,623 shares during the period. 30.73% of the stock is currently owned by institutional investors and hedge funds.

Sapiens International Price Performance

NASDAQ:SPNS opened at $27.42 on Tuesday. Sapiens International Co. has a one year low of $26.34 and a one 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 market cap of $1.53 billion, a PE ratio of 21.59 and a beta of 1.15. The stock has a 50 day moving average price of $31.50 and a 200 day moving average price of $34.34.

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

Analysts Set New Price Targets

SPNS has been the subject of several research analyst reports. William Blair restated a “market perform” rating on shares of Sapiens International in a research report on Friday, December 6th. Needham & Company LLC decreased their target price on Sapiens International from $44.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. StockNews.com cut Sapiens International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Barclays dropped their target price on shares of Sapiens International from $38.00 to $30.00 and set an “underweight” rating for the company in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $36.00.

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.