Arrowstreet Capital Limited Partnership Trims Position in Sapiens International Co. (NASDAQ:SPNS)

Arrowstreet Capital Limited Partnership cut its holdings in shares of Sapiens International Co. (NASDAQ:SPNS - Free Report) by 12.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 259,385 shares of the technology company's stock after selling 37,627 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.46% of Sapiens International worth $6,983,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Sapiens International in the 4th quarter worth approximately $1,239,000. Zions Bancorporation N.A. lifted its position in Sapiens International by 16.9% in the 4th quarter. Zions Bancorporation N.A. now owns 67,830 shares of the technology company's stock valued at $1,823,000 after acquiring an additional 9,828 shares in the last quarter. LPL Financial LLC boosted its position in shares of Sapiens International by 17.0% during the fourth quarter. LPL Financial LLC now owns 68,255 shares of the technology company's stock valued at $1,742,000 after buying an additional 9,917 shares during the last quarter. Quantbot Technologies LP boosted its holdings in Sapiens International by 653.3% during the 4th quarter. Quantbot Technologies LP now owns 10,614 shares of the technology company's stock worth $285,000 after acquiring an additional 9,205 shares during the last quarter. Finally, Royce & Associates LP boosted its holdings in Sapiens International by 65.7% during the fourth quarter. Royce & Associates LP now owns 932,703 shares of the technology company's stock worth $25,062,000 after purchasing an additional 369,947 shares during the last quarter. Institutional investors and hedge funds own 30.73% of the company's stock.

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Sapiens International Price Performance

Shares of NASDAQ SPNS traded up $0.36 during mid-day trading on Friday, reaching $26.04. 94,262 shares of the company were exchanged, compared to its average volume of 151,563. The stock has a market capitalization of $1.46 billion, a PE ratio of 20.19 and a beta of 1.10. The company has a quick ratio of 2.18, a current ratio of 2.24 and a debt-to-equity ratio of 0.04. Sapiens International Co. has a 52 week low of $23.69 and a 52 week high of $41.22. The company's 50 day moving average price is $27.05 and its 200 day moving average price is $29.29.

Sapiens International (NASDAQ:SPNS - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.01). The business had revenue of $134.31 million for the quarter, compared to the consensus estimate of $135.89 million. Sapiens International had a net margin of 13.31% and a return on equity of 17.42%. Sell-side analysts forecast that Sapiens International Co. will post 1.42 earnings per share for the current fiscal year.

Sapiens International Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Monday, April 7th will be paid a $0.66 dividend. This is a boost from Sapiens International's previous semi-annual dividend of $0.22. This represents a yield of 2.2%. The ex-dividend date of this dividend is Monday, April 7th. Sapiens International's payout ratio is 46.51%.

Analyst Ratings Changes

Several research analysts have weighed in on SPNS shares. Jefferies Financial Group cut Sapiens International from a "buy" rating to a "hold" rating and cut their price objective for the stock from $36.00 to $28.00 in a research report on Monday, February 3rd. Barclays cut their price target on Sapiens International from $30.00 to $28.00 and set an "underweight" rating for the company in a report on Wednesday, February 19th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $35.00 price objective on shares of Sapiens International in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Sapiens International currently has a consensus rating of "Hold" and a consensus price target of $33.50.

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.