Renaissance Technologies LLC buys 87,001 shares of Sapiens International Co. (NASDAQ:SPNS)

VaselineSeptember 21, 2024

0 3 minutes read

Renaissance Technologies LLC increased its stake in Sapiens International Co. (NASDAQ:SPNS – Free Report) by 14.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 681,004 shares of the technology company’s stock after purchasing an additional 87,001 shares during the quarter. Renaissance Technologies LLC’s holdings in Sapiens International were worth $23,106,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SPNS. Summit Securities Group LLC bought a new stake in shares of Sapiens International in the second quarter valued at approximately $34,000. Financial Management Professionals Inc. bought a new stake in Sapiens International in the 1st quarter valued at $40,000. Morgan Dempsey Capital Management LLC boosted its holdings in Sapiens International by 9.5% in the second quarter. Morgan Dempsey Capital Management LLC now owns 4,206 shares of the technology company’s stock valued at $143,000 after purchasing an additional 365 shares in the last quarter. Lazard Asset Management LLC bought a new position in Sapiens International in the first quarter worth $192,000. Finally, Foyston Gordon & Payne Inc purchased a new stake in shares of Sapiens International in the 1st quarter worth $217,000. Institutional investors and hedge funds own 30.73% of the company’s shares.

Analysts on Wall Street are forecasting an increase

Several equities analysts recently commented on SPNS shares. StockNews.com upgraded shares of Sapiens International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Needham & Company LLC boosted their price target on shares of Sapiens International from $38.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Barclays raised their target price on shares of Sapiens International from $30.00 to $38.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. Finally, Goldman Sachs Group boosted their price target on Sapiens International from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, August 2nd.

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Sapiens International Trading falls 1.5%

Shares of Sapiens International stock opened at $35.94 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.16, and a debt-to-equity ratio of 0.04. Sapiens International Co. has a 12-month low of $24.39 and a 12-month high of $41.22. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 30.72 and a beta of 1.25. The company’s 50-day moving average price is $36.61, and its two-hundred-day moving average price is $33.97.

Sapiens International (NASDAQ:SPNS – Get Your Free Report ) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. Sapiens International had a net margin of 12.92% and a return on equity of 17.60%. The business had revenue of $136.80 million for the quarter, compared to analyst estimates of $137.78 million. In the same quarter last year, the business posted EPS of $0.31. The company’s revenue for the quarter was up 6.6% year over year. On average, analysts estimate that Sapiens International Co. will post 1.42 earnings per share for the current fiscal year.

Sapiens International increases dividend

The firm also recently declared a semiannual dividend, which was paid on Thursday, September 12th. Stockholders of record on Wednesday, August 28th were issued a dividend of $0.29 per share. The ex-dividend date was Wednesday, August 28. This represents a dividend yield of 1.6%. This is an increase on Sapiens International’s previous semi-annual dividend of $0.28. Sapiens International’s payout ratio is 49.57%.

About Sapiens International

(Free Report)

Sapiens International Corporation NV provides software solutions for the insurance industry in North America, the United Kingdom, Europe, the Middle East, Africa, Asia Pacific and internationally. The company offers various solutions for commercial and personal lines, life and pensions and reinsurance.