JPMorgan Chase & Co. Acquires 32,780 Shares of Sapiens International Co. (NASDAQ:SPNS)

JPMorgan Chase & Co. increased its holdings in shares of Sapiens International Co. (NASDAQ:SPNS - Free Report) by 22.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 177,878 shares of the technology company's stock after purchasing an additional 32,780 shares during the period. JPMorgan Chase & Co. owned approximately 0.32% of Sapiens International worth $6,630,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Lord Abbett & CO. LLC raised its holdings in shares of Sapiens International by 451.9% during the third quarter. Lord Abbett & CO. LLC now owns 1,131,426 shares of the technology company's stock valued at $42,168,000 after purchasing an additional 926,405 shares during the period. Renaissance Technologies LLC raised its stake in Sapiens International by 14.6% during the 2nd quarter. Renaissance Technologies LLC now owns 681,004 shares of the technology company's stock worth $23,106,000 after buying an additional 87,001 shares during the period. Wellington Management Group LLP boosted its holdings in Sapiens International by 14.6% in the third quarter. Wellington Management Group LLP now owns 594,552 shares of the technology company's stock worth $22,159,000 after acquiring an additional 75,866 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Sapiens International in the third quarter valued at approximately $2,255,000. Finally, Barclays PLC increased its holdings in shares of Sapiens International by 415.1% during the third quarter. Barclays PLC now owns 54,640 shares of the technology company's stock valued at $2,036,000 after acquiring an additional 44,033 shares in the last quarter. Institutional investors and hedge funds own 30.73% of the company's stock.

Sapiens International Stock Down 1.0 %

Sapiens International stock traded down $0.26 during midday trading on Thursday, hitting $25.64. 354,692 shares of the stock were exchanged, compared to its average volume of 207,325. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 20.19 and a beta of 1.15. The business's 50-day moving average price is $27.86 and its 200-day moving average price is $33.48. Sapiens International Co. has a 52-week low of $25.01 and a 52-week high of $41.22.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. StockNews.com cut shares of Sapiens International from a "strong-buy" rating to a "buy" rating in a report on Tuesday, November 19th. William Blair reiterated a "market perform" rating on shares of Sapiens International in a research note on Friday, December 6th. Needham & Company LLC lowered their price objective on Sapiens International from $44.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, November 12th. Finally, Barclays dropped their target price on Sapiens International from $38.00 to $30.00 and set an "underweight" rating on the stock in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target 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.