Sapiens International Co. (NASDAQ:SPNS) Sees Large Increase in Short Interest

Sapiens International Co. (NASDAQ:SPNS) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 299,600 shares, a growth of 41.3% from the May 31st total of 212,100 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 142,300 shares, the days-to-cover ratio is presently 2.1 days.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price target on shares of Sapiens International in a research report on Wednesday, May 8th.

Sapiens International Stock Performance

Shares of SPNS stock traded up $0.22 during trading hours on Monday, reaching $34.15. 133,223 shares of the company traded hands, compared to its average volume of 126,203. The firm has a 50-day moving average price of $33.15 and a 200 day moving average price of $30.72. The company has a market cap of $1.88 billion, a P/E ratio of 29.19 and a beta of 1.22. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.84 and a quick ratio of 1.84. Sapiens International has a 12-month low of $24.39 and a 12-month high of $35.33.

Sapiens International (NASDAQ:SPNS) last issued its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. The business had revenue of $134.25 million for the quarter, compared to the consensus estimate of $133.63 million. Sapiens International had a net margin of 12.52% and a return on equity of 17.41%. As a group, sell-side analysts predict that Sapiens International will post 1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Sapiens International by 229.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,491 shares of the technology company’s stock valued at $1,492,000 after acquiring an additional 36,558 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Sapiens International by 8.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,295,832 shares of the technology company’s stock worth $36,841,000 after purchasing an additional 106,358 shares in the last quarter. SG Americas Securities LLC boosted its stake in Sapiens International by 66.4% in the 4th quarter. SG Americas Securities LLC now owns 7,763 shares of the technology company’s stock worth $225,000 after purchasing an additional 3,098 shares during the period. Assenagon Asset Management S.A. grew its holdings in Sapiens International by 22.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 115,313 shares of the technology company’s stock valued at $3,337,000 after buying an additional 21,375 shares in the last quarter. Finally, Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management bought a new stake in shares of Sapiens International during the fourth quarter valued at approximately $1,861,000. Institutional investors own 30.73% of the company’s stock.

Sapiens International Company Profile

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.