Sapiens International Co. (NASDAQ:SPNS) Shares Acquired by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lifted its stake in Sapiens International Co. (NASDAQ:SPNS - Free Report) by 451.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,131,426 shares of the technology company's stock after buying an additional 926,405 shares during the quarter. Lord Abbett & CO. LLC owned approximately 2.02% of Sapiens International worth $42,168,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. National Bank of Canada FI acquired a new position in Sapiens International in the third quarter valued at approximately $26,000. Summit Securities Group LLC purchased a new stake in Sapiens International during the second quarter worth $34,000. Financial Management Professionals Inc. grew its position in Sapiens International by 57.9% during the third quarter. Financial Management Professionals Inc. now owns 1,945 shares of the technology company's stock valued at $72,000 after buying an additional 713 shares during the period. Morgan Dempsey Capital Management LLC increased its holdings in Sapiens International by 9.5% in the second quarter. Morgan Dempsey Capital Management LLC now owns 4,206 shares of the technology company's stock valued at $143,000 after buying an additional 365 shares in the last quarter. Finally, MQS Management LLC acquired a new position in shares of Sapiens International in the third quarter worth about $230,000. 30.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Needham & Company LLC cut their price objective on Sapiens International from $44.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, November 12th. Barclays decreased 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 cut Sapiens International from a "strong-buy" rating to a "buy" rating in a report on Tuesday, November 19th. Finally, William Blair reiterated a "market perform" rating on shares of Sapiens International in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Sapiens International presently has a consensus rating of "Hold" and an average target price of $36.00.

Sapiens International Stock Up 0.2 %

SPNS traded up $0.05 on Friday, hitting $28.48. 233,432 shares of the company were exchanged, compared to its average volume of 171,861. The firm has a 50-day moving average price of $32.47 and a two-hundred day moving average price of $34.56. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.04. Sapiens International Co. has a twelve month low of $26.34 and a twelve month high of $41.22. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 22.43 and a beta of 1.15.

Sapiens International (NASDAQ:SPNS - Get Free Report) last released 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). The firm had revenue of $137.00 million for the quarter, compared to analysts' expectations of $140.10 million. Sapiens International had a return on equity of 17.61% and a net margin of 13.23%. The firm's quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 earnings per share. On average, equities analysts predict that Sapiens International Co. will post 1.42 earnings per share for the current year.

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.