Mirae Asset Global Investments Co. Ltd. Trims Stock Position in Sapiens International Co. (NASDAQ:SPNS)

Mirae Asset Global Investments Co. Ltd. cut its stake in shares of Sapiens International Co. (NASDAQ:SPNS) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,823 shares of the technology company’s stock after selling 3,018 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.14% of Sapiens International worth $2,281,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Invesco Ltd. increased its position in shares of Sapiens International by 2.7% during the third quarter. Invesco Ltd. now owns 17,026 shares of the technology company’s stock valued at $484,000 after acquiring an additional 445 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of 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 valued at $2,036,000 after acquiring an additional 485 shares during the last quarter. American International Group Inc. increased its position in shares of Sapiens International by 4.0% during the fourth quarter. American International Group Inc. now owns 15,168 shares of the technology company’s stock valued at $280,000 after acquiring an additional 578 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Sapiens International by 6.8% during the third quarter. Van ECK Associates Corp now owns 9,787 shares of the technology company’s stock valued at $278,000 after acquiring an additional 623 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its position in shares of Sapiens International by 2.4% during the third quarter. Los Angeles Capital Management LLC now owns 27,580 shares of the technology company’s stock valued at $784,000 after acquiring an additional 635 shares during the last quarter. 30.73% of the stock is currently owned by institutional investors and hedge funds.

Sapiens International Trading Down 0.3 %

Shares of SPNS stock opened at $30.17 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.11 and a current ratio of 2.11. The stock has a market capitalization of $1.66 billion, a P/E ratio of 26.94 and a beta of 1.16. The company has a 50 day moving average price of $30.55 and a 200 day moving average price of $28.17. Sapiens International Co. has a fifty-two week low of $19.91 and a fifty-two week high of $35.33.

Sapiens International (NASDAQ:SPNS) last posted its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.34 by $0.02. Sapiens International had a net margin of 12.14% and a return on equity of 16.92%. The company had revenue of $130.86 million during the quarter, compared to analysts’ expectations of $130.85 million. During the same quarter in the previous year, the business posted $0.31 EPS. The firm’s revenue was up 9.5% on a year-over-year basis. Equities research analysts predict that Sapiens International Co. will post 1.37 EPS for the current fiscal year.

Sapiens International Increases Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Thursday, April 18th. Shareholders of record on Friday, April 5th were issued a dividend of $0.28 per share. This represents a yield of 1.7%. The ex-dividend date was Thursday, April 4th. This is a boost from Sapiens International’s previous Semi-Annual dividend of $0.26. Sapiens International’s payout ratio is 50.00%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SPNS shares. The Goldman Sachs Group lifted their price target on shares of Sapiens International from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Barclays lifted their price objective on shares of Sapiens International from $28.00 to $30.00 and gave the company an “underweight” rating in a report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.33.

About Sapiens International

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.