Swiss National Bank increased its position in shares of Sapiens International Co. (NASDAQ:SPNS) by 4.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,415 shares of the technology company’s stock after acquiring an additional 2,177 shares during the quarter. Swiss National Bank owned approximately 0.09% of Sapiens International worth $757,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the company. Advisor Group Inc. lifted its position in Sapiens International by 492.9% in the second quarter. Advisor Group Inc. now owns 4,150 shares of the technology company’s stock valued at $69,000 after buying an additional 3,450 shares during the last quarter. Seizert Capital Partners LLC acquired a new position in Sapiens International in the first quarter valued at about $371,000. Monarch Partners Asset Management LLC lifted its position in Sapiens International by 49.2% in the first quarter. Monarch Partners Asset Management LLC now owns 35,856 shares of the technology company’s stock valued at $548,000 after buying an additional 11,825 shares during the last quarter. Shell Asset Management Co. acquired a new position in Sapiens International in the first quarter valued at about $656,000. Finally, ClariVest Asset Management LLC acquired a new position in Sapiens International in the first quarter valued at about $752,000.
A number of research firms have commented on SPNS. Zacks Investment Research raised shares of Sapiens International from a “hold” rating to a “strong-buy” rating and set a $20.00 target price on the stock in a research report on Friday, August 9th. Roth Capital upped their target price on shares of Sapiens International from $5.00 to $8.75 in a research report on Monday, August 5th. BidaskClub cut shares of Sapiens International from a “strong-buy” rating to a “buy” rating in a research report on Friday. Finally, Barclays reaffirmed a “hold” rating on shares of Sapiens International in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $14.42.
Sapiens International (NASDAQ:SPNS) last issued its quarterly earnings results on Monday, August 5th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.03. The business had revenue of $79.53 million for the quarter, compared to analysts’ expectations of $78.62 million. Sapiens International had a net margin of 6.91% and a return on equity of 15.34%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 earnings per share. Analysts forecast that Sapiens International Co. will post 0.71 earnings per share for the current fiscal year.
The firm also recently declared a dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a dividend of $0.22 per share. The ex-dividend date was Monday, August 19th. This is a boost from Sapiens International’s previous dividend of $0.20.
Sapiens International Profile
Sapiens International Corporation N.V. provides software solutions for the insurance and financial services industries in North America, Europe, the Asia Pacific, and South Africa. The company offers software platform and solutions for personal, commercial, and specialty lines, as well as reinsurance and workers' compensation, including Sapiens CoreSuite and Sapiens IDITSuite; and life, pension, and annuities, such as Sapiens CoreSuite, Sapiens UnderwritingPro, Sapiens ApplicationPro, Sapiens IllustrationPro, and Sapiens ConsolidationMaster.
Further Reading: Initial Coin Offering (ICO)
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