Corebridge Financial Inc. Has $411,000 Stock Holdings in Sapiens International Co. (NASDAQ:SPNS)

Corebridge Financial Inc. lowered its stake in shares of Sapiens International Co. (NASDAQ:SPNS) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,303 shares of the technology company’s stock after selling 1,156 shares during the period. Corebridge Financial Inc.’s holdings in Sapiens International were worth $411,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SPNS. National Bank of Canada FI acquired a new position in shares of Sapiens International in the third quarter valued at $26,000. Blue Trust Inc. increased its position in shares of Sapiens International by 171.2% in the fourth quarter. Blue Trust Inc. now owns 1,356 shares of the technology company’s stock worth $36,000 after purchasing an additional 856 shares during the period. Morgan Dempsey Capital Management LLC increased its holdings in Sapiens International by 8.8% in the 4th quarter. Morgan Dempsey Capital Management LLC now owns 6,635 shares of the technology company’s stock valued at $178,000 after buying an additional 539 shares during the period. HighTower Advisors LLC increased its stake in Sapiens International by 28.6% in the fourth quarter. HighTower Advisors LLC now owns 8,108 shares of the technology company’s stock valued at $218,000 after acquiring an additional 1,801 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Sapiens International during the 4th quarter worth $262,000. Institutional investors own 30.73% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on SPNS shares. Needham & Company LLC reissued a “buy” rating and issued a $35.00 price objective on shares of Sapiens International in a research note on Wednesday, February 19th. Jefferies Financial Group downgraded Sapiens International from a “buy” rating to a “hold” rating and dropped their price objective for the company from $36.00 to $28.00 in a research note on Monday, February 3rd. Finally, Barclays cut their price target on Sapiens International from $30.00 to $28.00 and set an “underweight” rating on the stock in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $33.50.

Sapiens International Stock Performance

Shares of Sapiens International stock opened at $26.20 on Thursday. Sapiens International Co. has a 12 month low of $23.69 and a 12 month high of $41.22. The business’s fifty day simple moving average is $27.08 and its 200 day simple moving average is $29.43. The company has a current ratio of 2.24, a quick ratio of 2.18 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $1.46 billion, a P/E ratio of 20.31 and a beta of 1.10.

Sapiens International (NASDAQ:SPNS) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). Sapiens International had a net margin of 13.31% and a return on equity of 17.42%. The firm had revenue of $134.31 million during the quarter, compared to the consensus estimate of $135.89 million. As a group, analysts anticipate that Sapiens International Co. will post 1.42 EPS for the current year.

Sapiens International Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, April 16th. Investors of record on Monday, April 7th will be paid a $0.66 dividend. This represents a yield of 2.2%. This is a positive change from Sapiens International’s previous semi-annual dividend of $0.22. The ex-dividend date of this dividend is Monday, April 7th. Sapiens International’s payout ratio is currently 46.51%.

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.