Sapiens International (NASDAQ:SPNS) Reaches New 52-Week High – Time to Buy?

Sapiens International Corporation N.V. (NASDAQ:SPNS)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $43.21 and last traded at $43.1950, with a volume of 431294 shares. The stock had previously closed at $43.16.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SPNS shares. Needham & Company LLC lowered shares of Sapiens International from a “buy” rating to a “hold” rating and set a $35.00 price target on the stock. in a research report on Wednesday, August 13th. Weiss Ratings restated a “hold (c)” rating on shares of Sapiens International in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded Sapiens International from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $31.33.

Sapiens International Price Performance

The company has a market capitalization of $2.42 billion, a PE ratio of 35.41 and a beta of 0.89. The stock’s 50 day simple moving average is $43.04 and its 200-day simple moving average is $35.24.

Institutional Investors Weigh In On Sapiens International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPNS. GAMMA Investing LLC increased its holdings in shares of Sapiens International by 73.1% in the 2nd quarter. GAMMA Investing LLC now owns 919 shares of the technology company’s stock valued at $27,000 after purchasing an additional 388 shares in the last quarter. Voya Investment Management LLC grew its position in Sapiens International by 6.9% during the first quarter. Voya Investment Management LLC now owns 96,665 shares of the technology company’s stock worth $2,619,000 after buying an additional 6,224 shares during the period. Invesco Ltd. increased its holdings in Sapiens International by 20.8% in the first quarter. Invesco Ltd. now owns 26,635 shares of the technology company’s stock valued at $722,000 after buying an additional 4,595 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Sapiens International during the 1st quarter valued at approximately $7,044,000. Finally, Acadian Asset Management LLC boosted its stake in shares of Sapiens International by 1.1% during the 2nd quarter. Acadian Asset Management LLC now owns 747,046 shares of the technology company’s stock worth $21,829,000 after acquiring an additional 8,117 shares in the last quarter. Hedge funds and other 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.