Needham & Company LLC Lowers Sapiens International (NASDAQ:SPNS) Price Target to $35.00

Sapiens International (NASDAQ:SPNS) had its price objective decreased by equities researchers at Needham & Company LLC from $44.00 to $35.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s target price indicates a potential upside of 20.27% from the stock’s current price.

SPNS has been the topic of a number of other research reports. The Goldman Sachs Group boosted their price target on Sapiens International from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. StockNews.com upgraded Sapiens International from a “buy” rating to a “strong-buy” rating in a research note on Monday. Finally, Barclays boosted their price target on Sapiens International from $30.00 to $38.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd.

Sapiens International Price Performance

SPNS opened at $29.10 on Tuesday. The business’s 50-day moving average is $36.34 and its two-hundred day moving average is $35.45. Sapiens International has a 1 year low of $24.91 and a 1 year high of $41.22. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a market capitalization of $1.62 billion, a PE ratio of 23.85 and a beta of 1.25.

Institutional Investors Weigh In On Sapiens International

Institutional investors and hedge funds have recently modified their holdings of the company. Sei Investments Co. boosted its holdings in Sapiens International by 8.5% during the first quarter. Sei Investments Co. now owns 134,486 shares of the technology company’s stock worth $4,325,000 after buying an additional 10,523 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Sapiens International by 1.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 74,258 shares of the technology company’s stock valued at $2,388,000 after acquiring an additional 1,361 shares during the period. Foundry Partners LLC increased its stake in shares of Sapiens International by 11.2% in the 1st quarter. Foundry Partners LLC now owns 130,210 shares of the technology company’s stock valued at $4,188,000 after purchasing an additional 13,166 shares in the last quarter. Acadian Asset Management LLC boosted its position in Sapiens International by 9.1% during the first quarter. Acadian Asset Management LLC now owns 954,791 shares of the technology company’s stock worth $30,687,000 after purchasing an additional 79,302 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its holdings in Sapiens International by 8.5% in the first quarter. Hillsdale Investment Management Inc. now owns 153,400 shares of the technology company’s stock valued at $4,933,000 after purchasing an additional 12,000 shares during the period. Institutional investors and hedge funds own 30.73% of the company’s stock.

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.