Principal Financial Group Inc. Cuts Position in Sapiens International Co. (NASDAQ:SPNS)

Principal Financial Group Inc. trimmed its stake in shares of Sapiens International Co. (NASDAQ:SPNS) by 49.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,767 shares of the technology company’s stock after selling 9,625 shares during the quarter. Principal Financial Group Inc.’s holdings in Sapiens International were worth $364,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its holdings in Sapiens International by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,328 shares of the technology company’s stock valued at $384,000 after acquiring an additional 569 shares during the last quarter. National Bank of Canada FI purchased a new stake in shares of Sapiens International in the 3rd quarter valued at approximately $26,000. Financial Management Professionals Inc. lifted its holdings in shares of Sapiens International by 57.9% in the 3rd quarter. Financial Management Professionals Inc. now owns 1,945 shares of the technology company’s stock worth $72,000 after acquiring an additional 713 shares during the last quarter. XTX Topco Ltd boosted its position in shares of Sapiens International by 13.5% during the 2nd quarter. XTX Topco Ltd now owns 8,881 shares of the technology company’s stock worth $301,000 after purchasing an additional 1,053 shares during the period. Finally, Franklin Resources Inc. increased its holdings in Sapiens International by 7.7% in the 3rd quarter. Franklin Resources Inc. now owns 19,540 shares of the technology company’s stock valued at $700,000 after purchasing an additional 1,391 shares during the last quarter. 30.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SPNS has been the subject of a number of research reports. William Blair restated a “market perform” rating on shares of Sapiens International in a report on Friday, December 6th. Barclays lowered their target price on shares of Sapiens International from $38.00 to $30.00 and set an “underweight” rating on the stock in a research report on Tuesday, November 12th. Needham & Company LLC reduced 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, StockNews.com lowered shares of Sapiens International from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Sapiens International has a consensus rating of “Hold” and an average price target of $36.00.

Sapiens International Price Performance

Sapiens International stock opened at $26.19 on Tuesday. The firm’s 50-day simple moving average is $29.51 and its 200 day simple moving average is $33.87. The firm has a market capitalization of $1.46 billion, a PE ratio of 20.62 and a beta of 1.15. Sapiens International Co. has a 52 week low of $26.09 and a 52 week high of $41.22. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.04.

Sapiens International (NASDAQ:SPNS) last issued its quarterly earnings results on Monday, November 11th. The technology company reported $0.37 EPS 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 business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 earnings per share. On average, equities research analysts predict that Sapiens International Co. will post 1.42 EPS for the current fiscal year.

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.