Sapiens International (NASDAQ:SPNS) Hits New 52-Week High – Still a Buy?

Sapiens International Corporation N.V. (NASDAQ:SPNS)’s stock price hit a new 52-week high on Monday . The stock traded as high as $43.18 and last traded at $43.10, with a volume of 741 shares changing hands. The stock had previously closed at $43.09.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Sapiens International in a research report on Wednesday, October 8th. Needham & Company LLC downgraded Sapiens International from a “buy” rating to a “hold” rating and set a $35.00 price objective for the company. in a research report on Wednesday, August 13th. Finally, Wall Street Zen downgraded Sapiens International from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $31.33.

Sapiens International Stock Performance

The firm has a market cap of $2.41 billion, a P/E ratio of 35.32 and a beta of 0.92. The company has a 50-day moving average of $42.94 and a 200 day moving average of $33.32.

Hedge Funds Weigh In On Sapiens International

Several institutional investors have recently bought and sold shares of SPNS. Goldman Sachs Group Inc. raised its position in Sapiens International by 227.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 550,343 shares of the technology company’s stock valued at $14,909,000 after purchasing an additional 382,138 shares during the last quarter. Nuveen LLC bought a new position in Sapiens International in the 1st quarter valued at $7,044,000. Millennium Management LLC raised its position in Sapiens International by 217.1% in the 1st quarter. Millennium Management LLC now owns 371,368 shares of the technology company’s stock valued at $10,060,000 after purchasing an additional 254,259 shares during the last quarter. Royce & Associates LP raised its position in Sapiens International by 25.9% in the 1st quarter. Royce & Associates LP now owns 1,174,043 shares of the technology company’s stock valued at $31,805,000 after purchasing an additional 241,340 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Sapiens International by 467.6% in the 1st quarter. Rhumbline Advisers now owns 264,065 shares of the technology company’s stock valued at $7,154,000 after purchasing an additional 217,540 shares during the last quarter. Institutional investors own 30.73% of the company’s stock.

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.