Do You Believe in the Growth Potential of Sapiens International Corporation N.V. (SPNS)?
Oakmark Funds, advised by Harris Associates, released its “Oakmark International Small Cap Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. The fund returned 3.8% in the second quarter outperforming the MSCI World ex U.S. Small Cap Index which returned 0.5% in the same period. The fund returned 8.5% per year annualized return since its inception in November 1995. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Oakmark International Small Cap Fund highlighted stocks like Sapiens International Corporation N.V. (NASDAQ:SPNS) in the second quarter 2023 investor letter. Headquartered in Holon, Israel, Sapiens International Corporation N.V. (NASDAQ:SPNS) is a software solutions provider for the insurance and financial services industries. On July 11, 2023, Sapiens International Corporation N.V. (NASDAQ:SPNS) stock closed at $25.99 per share. One-month return of Sapiens International Corporation N.V. (NASDAQ:SPNS) was -4.17%, and its shares gained 6.30% of their value over the last 52 weeks. Sapiens International Corporation N.V. (NASDAQ:SPNS) has a market capitalization of $ 1.434 billion.
Oakmark International Small Cap Fund made the following comment about Sapiens International Corporation N.V. (NASDAQ:SPNS) in its second quarter 2023 investor letter:
"Sapiens International Corporation N.V. (NASDAQ:SPNS) (Israel) is a global leader in core software solutions in the insurance industry. Because insurance core software is the most mission-critical function in an insurance company and replacing a system is both expensive and disruptive, Sapiens’s customer base is extremely sticky. Given that half of all insurers still use mainframes and will need to modernize to stay competitive, we believe that Sapiens also has significant growth potential. Even after a company selects Sapiens, there are further long-tailed opportunities for growth. Finally, the company has multiple opportunities for margin expansion, including offshoring service talent, re-leveraging its North America business investments and transitioning to the cloud."
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Sapiens International Corporation N.V. (NASDAQ:SPNS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 12 hedge fund portfolios held Sapiens International Corporation N.V. (NASDAQ:SPNS) at the end of first quarter which was 10 in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
