Cornerstone Investment Partners LLC Sells 4,037 Shares of Sapiens International Corporation N.V. $SPNS

Cornerstone Investment Partners LLC lessened its stake in Sapiens International Corporation N.V. (NASDAQ:SPNS) by 26.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,384 shares of the technology company’s stock after selling 4,037 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in Sapiens International were worth $333,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SPNS. Royce & Associates LP grew its holdings in Sapiens International by 25.9% during the first 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 period. Topline Capital Management LLC grew its stake in shares of Sapiens International by 5.2% during the 1st quarter. Topline Capital Management LLC now owns 945,377 shares of the technology company’s stock worth $25,610,000 after acquiring an additional 46,715 shares during the period. Wellington Management Group LLP grew its stake in shares of Sapiens International by 8.1% during the 1st quarter. Wellington Management Group LLP now owns 713,109 shares of the technology company’s stock worth $19,318,000 after acquiring an additional 53,585 shares during the period. Goldman Sachs Group Inc. increased its holdings 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 worth $14,909,000 after acquiring an additional 382,138 shares during the last quarter. Finally, Millennium Management LLC raised its stake 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 acquiring an additional 254,259 shares during the period. Hedge funds and other institutional investors own 30.73% of the company’s stock.

Wall Street Analyst Weigh In

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

Sapiens International Trading Up 0.0%

Sapiens International stock opened at $43.10 on Friday. Sapiens International Corporation N.V. has a 1-year low of $23.69 and a 1-year high of $43.21. The firm has a market capitalization of $2.41 billion, a PE ratio of 35.33 and a beta of 0.89. The firm’s 50 day simple moving average is $43.02 and its 200 day simple moving average is $34.78.

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.