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

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

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

Sapiens International Stock Up 6.8 %

Shares of Sapiens International stock traded up $2.14 during trading hours on Wednesday, reaching $33.52. 234,089 shares of the company were exchanged, compared to its average volume of 127,877. Sapiens International has a 1 year low of $22.41 and a 1 year high of $35.33. The firm has a market cap of $1.85 billion, a PE ratio of 29.93 and a beta of 1.17. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.11 and a current ratio of 2.11. The stock’s fifty day moving average is $30.94 and its 200 day moving average is $28.55.

Sapiens International (NASDAQ:SPNS) last released its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. Sapiens International had a net margin of 12.14% and a return on equity of 16.92%. The company had revenue of $130.86 million for the quarter, compared to analysts’ expectations of $130.85 million. During the same quarter last year, the company earned $0.31 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities research analysts forecast that Sapiens International will post 1.37 earnings per share for the current year.

Institutional Investors Weigh In On Sapiens International

Several institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. purchased a new stake in shares of Sapiens International in the fourth quarter worth about $25,000. Financial Management Professionals Inc. acquired a new position in Sapiens International during the 1st quarter worth $40,000. Psagot Value Holdings Ltd. Israel acquired a new position in Sapiens International in the fourth quarter worth about $41,000. SG Americas Securities LLC acquired a new stake in shares of Sapiens International during the 3rd quarter valued at approximately $133,000. Finally, Foyston Gordon & Payne Inc bought a new position in shares of Sapiens International in the 1st quarter worth about $217,000. 30.73% of the stock is currently owned by hedge funds and other 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.