State Board of Administration of Florida Retirement System Increases Position in Sapiens International Co. (NASDAQ:SPNS)

State Board of Administration of Florida Retirement System lifted its position in shares of Sapiens International Co. (NASDAQ:SPNSGet Rating) by 197.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 51,961 shares of the technology company’s stock after buying an additional 34,489 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Sapiens International were worth $1,257,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of SPNS. Bank of New York Mellon Corp raised its stake in Sapiens International by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 80,168 shares of the technology company’s stock worth $2,036,000 after purchasing an additional 485 shares during the period. Martingale Asset Management L P raised its stake in Sapiens International by 2.1% during the first quarter. Martingale Asset Management L P now owns 33,550 shares of the technology company’s stock worth $853,000 after purchasing an additional 704 shares during the period. Rhumbline Advisers raised its stake in Sapiens International by 2.7% during the first quarter. Rhumbline Advisers now owns 29,814 shares of the technology company’s stock worth $757,000 after purchasing an additional 796 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Sapiens International by 1.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 68,862 shares of the technology company’s stock worth $1,749,000 after purchasing an additional 1,234 shares during the period. Finally, FinTrust Capital Advisors LLC raised its stake in Sapiens International by 51.4% during the second quarter. FinTrust Capital Advisors LLC now owns 4,210 shares of the technology company’s stock worth $109,000 after purchasing an additional 1,430 shares during the period. Hedge funds and other institutional investors own 26.02% of the company’s stock.

Sapiens International Price Performance

Shares of SPNS stock opened at $19.32 on Thursday. The firm has a market cap of $1.06 billion, a P/E ratio of 20.34 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.88 and a quick ratio of 1.88. Sapiens International Co. has a 1-year low of $16.18 and a 1-year high of $38.32. The firm has a fifty day moving average of $19.37 and a two-hundred day moving average of $22.13.

Analysts Set New Price Targets

A number of research firms have weighed in on SPNS. Needham & Company LLC cut their price target on shares of Sapiens International from $30.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, November 4th. StockNews.com lowered shares of Sapiens International from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 20th. TheStreet lowered shares of Sapiens International from a “b-” rating to a “c+” rating in a research report on Wednesday, October 5th. Finally, Citigroup dropped their price objective on shares of Sapiens International from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, August 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $27.33.

Sapiens International Profile

(Get Rating)

Sapiens International Corporation N.V. provides software solutions for the insurance and financial services industries in North America, the European Union, the United Kingdom, Israel, and internationally. The company offers Sapiens CoreSuite and Sapiens IDITSuite for personal, commercial, and specialty lines; and Sapiens CoreSuite, Sapiens UnderwritingPro, Sapiens ApplicationPro, Sapiens IllustrationPro, and Sapiens ConsolidationMaster for life, pension, and annuities.

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Institutional Ownership by Quarter for Sapiens International (NASDAQ:SPNS)

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