Today: California Public Employees Retirement System Acquires 5,300 Shares of Sapiens International Corp. (SPNS)

Today: California Public Employees Retirement System Acquires 5,300 Shares of Sapiens International Corp. (SPNS)

California Public Employees Retirement System boosted its stake in shares of Sapiens International Corp. (NASDAQ:SPNS) by 5.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 96,564 shares of the company’s stock after buying an additional 5,300 shares during the period. California Public Employees Retirement System owned 0.20% of Sapiens International Corp. worth $1,131,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SPNS. Emerald Acquisition Ltd. purchased a new stake in shares of Sapiens International Corp. during the second quarter valued at about $2,087,000. Acadian Asset Management LLC increased its stake in shares of Sapiens International Corp. by 0.3% in the second quarter. Acadian Asset Management LLC now owns 125,206 shares of the company’s stock valued at $1,466,000 after buying an additional 428 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Sapiens International Corp. by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 50,155 shares of the company’s stock valued at $587,000 after buying an additional 370 shares during the period. Geode Capital Management LLC increased its stake in shares of Sapiens International Corp. by 12.9% in the first quarter. Geode Capital Management LLC now owns 45,635 shares of the company’s stock valued at $546,000 after buying an additional 5,207 shares during the period. Finally, Swiss National Bank increased its stake in shares of Sapiens International Corp. by 29.3% in the second quarter. Swiss National Bank now owns 41,075 shares of the company’s stock valued at $474,000 after buying an additional 9,315 shares during the period. 13.10% of the stock is owned by institutional investors.

Sapiens International Corp. (NASDAQ:SPNS) traded up 0.15% during mid-day trading on Friday, hitting $13.09. 11,291 shares of the stock were exchanged. The company has a 50-day moving average price of $13.30 and a 200-day moving average price of $12.56. Sapiens International Corp. has a one year low of $8.93 and a one year high of $14.13. The company has a market cap of $640.73 million, a P/E ratio of 30.66 and a beta of 0.82.

Sapiens International Corp. (NASDAQ:SPNS) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.13. The business earned $53 million during the quarter, compared to analyst estimates of $50.78 million. Sapiens International Corp. had a return on equity of 12.48% and a net margin of 10.48%. The firm’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.11 EPS. On average, analysts predict that Sapiens International Corp. will post $0.49 earnings per share for the current fiscal year.

SPNS has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Sapiens International Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, September 13th. Barclays PLC raised their price target on shares of Sapiens International Corp. from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. Finally, Roth Capital reissued a “sell” rating on shares of Sapiens International Corp. in a research report on Sunday, July 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $13.50.

About Sapiens International Corp.

Sapiens International Corporation N.V. (Sapiens) is a provider of software solutions for the insurance industry, with a focus on the financial services sector. The Company operates in provider of software solutions segment. Its software solutions portfolio consists of Life, Pension, Annuity and Retirement Solutions, including software solutions for the management of a range of products for life, pension, annuity and retirement; Property and Casualty/General Insurance Solutions, including a software suite of solutions, supporting a range of business lines, including personal, commercial and specialty lines, as well as a solution for the management of reinsurance contracts; Sapiens DECISION, which is a business decision management solution, and Technology-Based Solutions, such as Sapiens eMerge.

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