ARK Investment Management LLC Decreases Position in Sapiens International Co. (NASDAQ:SPNS)

ARK Investment Management LLC decreased its holdings in Sapiens International Co. (NASDAQ:SPNS - Free Report) by 27.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,381 shares of the technology company's stock after selling 19,538 shares during the quarter. ARK Investment Management LLC owned approximately 0.09% of Sapiens International worth $1,952,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Foundry Partners LLC increased its stake in shares of Sapiens International by 11.2% in the first quarter. Foundry Partners LLC now owns 130,210 shares of the technology company's stock valued at $4,188,000 after buying an additional 13,166 shares during the period. Tidal Investments LLC acquired a new position in Sapiens International in the first quarter valued at $871,000. Acadian Asset Management LLC boosted its position in Sapiens International by 9.1% during the first quarter. Acadian Asset Management LLC now owns 954,791 shares of the technology company's stock valued at $30,687,000 after acquiring an additional 79,302 shares during the last quarter. Janus Henderson Group PLC boosted its position in Sapiens International by 155.4% during the first quarter. Janus Henderson Group PLC now owns 599,386 shares of the technology company's stock valued at $19,276,000 after acquiring an additional 364,695 shares during the last quarter. Finally, Inspire Investing LLC acquired a new stake in Sapiens International during the 1st quarter worth about $914,000. 30.73% of the stock is currently owned by institutional investors and hedge funds.

Sapiens International Stock Down 0.1 %

Shares of NASDAQ SPNS traded down $0.03 during mid-day trading on Friday, reaching $39.45. 164,278 shares of the company's stock traded hands, compared to its average volume of 123,885. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.16 and a quick ratio of 2.16. Sapiens International Co. has a 1-year low of $24.39 and a 1-year high of $41.22. The stock has a market cap of $2.20 billion, a P/E ratio of 32.34 and a beta of 1.25. The business has a 50-day simple moving average of $36.48 and a 200 day simple moving average of $35.43.

Sapiens International Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Thursday, September 12th. Stockholders of record on Wednesday, August 28th were paid a $0.29 dividend. This is a positive change from Sapiens International's previous Semi-Annual dividend of $0.28. The ex-dividend date was Wednesday, August 28th. This represents a dividend yield of 1.6%. Sapiens International's dividend payout ratio is presently 47.54%.

Analysts Set New Price Targets

Several equities research analysts recently commented on SPNS shares. StockNews.com cut Sapiens International from a "strong-buy" rating to a "buy" rating in a research note on Thursday, September 26th. The Goldman Sachs Group increased their target price on shares of Sapiens International from $38.00 to $43.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Needham & Company LLC upped their price objective on shares of Sapiens International from $38.00 to $44.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Finally, Barclays raised their target price on Sapiens International from $30.00 to $38.00 and gave the company an "underweight" rating in a research note on Friday, August 2nd.

Sapiens International 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.