Needham & Company LLC Reiterates Buy Rating for Sapiens International (NASDAQ:SPNS)

Needham & Company LLC reissued their buy rating on shares of Sapiens International (NASDAQ:SPNS) in a report published on Wednesday,Benzinga reports. Needham & Company LLC currently has a $35.00 price target on the technology company’s stock.

A number of other analysts have also commented on the stock. Jefferies Financial Group lowered shares of Sapiens International from a “buy” rating to a “hold” rating and reduced their price target for the stock from $36.00 to $28.00 in a research note on Monday, February 3rd. StockNews.com lowered shares of Sapiens International from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 19th. William Blair restated a “market perform” rating on shares of Sapiens International in a research note on Friday, December 6th. Finally, Barclays reduced their price objective on Sapiens International from $38.00 to $30.00 and set an “underweight” rating for the company in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.50.

Sapiens International Stock Performance

SPNS stock opened at $28.34 on Wednesday. The stock has a market capitalization of $1.58 billion, a PE ratio of 22.32 and a beta of 1.16. The stock’s 50 day simple moving average is $26.77 and its 200 day simple moving average is $31.57. Sapiens International has a 12-month low of $25.01 and a 12-month high of $41.22. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.04.

Sapiens International (NASDAQ:SPNS) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Sapiens International had a net margin of 13.23% and a return on equity of 17.61%. The business had revenue of $134.31 million for the quarter, compared to the consensus estimate of $135.89 million. As a group, research analysts forecast that Sapiens International will post 1.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sapiens International

Several hedge funds and other institutional investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Sapiens International by 8.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 37,851 shares of the technology company’s stock valued at $1,017,000 after purchasing an additional 3,016 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Sapiens International during the 4th quarter valued at about $310,000. Two Sigma Investments LP lifted its position in shares of Sapiens International by 34.8% during the 4th quarter. Two Sigma Investments LP now owns 10,046 shares of the technology company’s stock valued at $270,000 after buying an additional 2,594 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Sapiens International during the 4th quarter valued at approximately $296,000. Finally, ProShare Advisors LLC increased its holdings in Sapiens International by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 8,668 shares of the technology company’s stock worth $233,000 after acquiring an additional 2,851 shares in the last quarter. 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.