Sapiens International (NASDAQ:SPNS) Receives “Buy” Rating from Needham & Company LLC

Sapiens International (NASDAQ:SPNS)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a report issued on Wednesday, Benzinga reports. They presently have a $38.00 price target on the technology company’s stock. Needham & Company LLC’s price target suggests a potential upside of 13.37% from the company’s previous close.

A number of other research analysts also recently commented on the company. Barclays boosted their price target on Sapiens International from $28.00 to $30.00 and gave the company an “underweight” rating in a research note on Wednesday, February 21st. The Goldman Sachs Group boosted their price target on Sapiens International from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $35.33.

Sapiens International Stock Up 6.8 %

NASDAQ SPNS traded up $2.14 on Wednesday, reaching $33.52. The company had a trading volume of 234,089 shares, compared to its average volume of 127,877. The company’s fifty day moving average is $30.94 and its 200-day moving average is $28.55. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.11 and a current ratio of 2.11. Sapiens International has a 1-year low of $22.41 and a 1-year high of $35.33. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 29.93 and a beta of 1.17.

Sapiens International (NASDAQ:SPNS) last announced its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. The business had revenue of $130.86 million during the quarter, compared to the consensus estimate of $130.85 million. Sapiens International had a return on equity of 16.92% and a net margin of 12.14%. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. On average, research analysts forecast that Sapiens International will post 1.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sapiens International

Institutional investors and hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. bought a new stake in Sapiens International in the 4th quarter valued at about $25,000. Financial Management Professionals Inc. bought a new position in shares of Sapiens International in the first quarter valued at approximately $40,000. Psagot Value Holdings Ltd. Israel purchased a new position in Sapiens International in the fourth quarter worth $41,000. SG Americas Securities LLC bought a new stake in shares of Sapiens International during the 3rd quarter worth $133,000. Finally, Foyston Gordon & Payne Inc purchased a new stake in Sapiens International during the first quarter worth about $217,000. 30.73% of the stock is currently owned by institutional investors.

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.