Norges Bank Invests $1.24 Million in Sapiens International Co. (NASDAQ:SPNS)

Norges Bank acquired a new stake in shares of Sapiens International Co. (NASDAQ:SPNS - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 45,728 shares of the technology company's stock, valued at approximately $1,239,000. Norges Bank owned approximately 0.08% of Sapiens International at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SPNS. National Bank of Canada FI purchased a new position in Sapiens International during the 3rd quarter valued at approximately $26,000. Blue Trust Inc. lifted its holdings in shares of Sapiens International by 171.2% in the 4th quarter. Blue Trust Inc. now owns 1,356 shares of the technology company's stock valued at $36,000 after acquiring an additional 856 shares during the last quarter. Morgan Dempsey Capital Management LLC grew its position in Sapiens International by 8.8% in the fourth quarter. Morgan Dempsey Capital Management LLC now owns 6,635 shares of the technology company's stock worth $178,000 after acquiring an additional 539 shares in the last quarter. HighTower Advisors LLC increased its stake in Sapiens International by 28.6% during the fourth quarter. HighTower Advisors LLC now owns 8,108 shares of the technology company's stock worth $218,000 after acquiring an additional 1,801 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Sapiens International during the fourth quarter valued at approximately $262,000. Hedge funds and other institutional investors own 30.73% of the company's stock.

Analyst Upgrades and Downgrades

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

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Sapiens International Stock Performance

Shares of Sapiens International stock traded up $0.11 on Tuesday, reaching $26.24. 94,731 shares of the stock were exchanged, compared to its average volume of 151,270. Sapiens International Co. has a twelve month low of $23.69 and a twelve month high of $41.22. The company has a quick ratio of 2.18, a current ratio of 2.24 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 20.34 and a beta of 1.10. The business has a 50 day moving average price of $27.04 and a two-hundred day moving average price of $29.16.

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

Sapiens International Increases Dividend

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

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.