Sapiens International (NASDAQ:SPNS) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a report released on Wednesday, Zacks.com reports. The firm currently has a $30.00 price objective on the technology company's stock. Zacks Investment Research's target price points to a potential upside of 8.46% from the stock's current price.
According to Zacks, "SAPIENS INTL NV is a leading global provider of proven IT solutions that modernize business processes and enable insurance organizations and other leading companies to adapt quickly to change. Serving as consultants and advisors, Sapiens works with companies to analyze their current systems and develop a blueprint for aligning technology with business goals. The company focuses on delivering innovative solutions that allow companies to build on existing IT assets. "
Several other equities research analysts have also recently weighed in on SPNS. ValuEngine upgraded Sapiens International from a "sell" rating to a "hold" rating in a research report on Tuesday, March 3rd. Needham & Company LLC restated a "buy" rating and issued a $28.00 price objective on shares of Sapiens International in a research report on Thursday, May 14th. Finally, BidaskClub cut shares of Sapiens International from a "buy" rating to a "hold" rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of "Hold" and a consensus price target of $22.94.
Shares of SPNS traded down $0.32 during midday trading on Wednesday, hitting $27.66. 11,114 shares of the company traded hands, compared to its average volume of 459,285. The stock has a 50-day moving average of $26.07 and a 200-day moving average of $23.52. Sapiens International has a one year low of $13.55 and a one year high of $29.73. The firm has a market cap of $1.33 billion, a P/E ratio of 50.29, a PEG ratio of 6.51 and a beta of 1.16. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.14 and a quick ratio of 1.14.
Sapiens International (NASDAQ:SPNS) last announced its quarterly earnings results on Thursday, May 14th. The technology company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.19 by $0.01. Sapiens International had a return on equity of 17.81% and a net margin of 8.22%. The firm had revenue of $90.53 million for the quarter, compared to analysts' expectations of $87.07 million. Sell-side analysts forecast that Sapiens International will post 0.81 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of SPNS. Norges Bank purchased a new stake in shares of Sapiens International during the fourth quarter valued at approximately $15,498,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Sapiens International by 33.2% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 709,805 shares of the technology company's stock valued at $13,500,000 after purchasing an additional 176,964 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Sapiens International during the first quarter valued at approximately $2,180,000. Renaissance Technologies LLC boosted its stake in shares of Sapiens International by 15.1% during the fourth quarter. Renaissance Technologies LLC now owns 736,900 shares of the technology company's stock valued at $16,949,000 after purchasing an additional 96,500 shares during the period. Finally, Royal Bank of Canada boosted its stake in shares of Sapiens International by 40.2% during the first quarter. Royal Bank of Canada now owns 327,534 shares of the technology company's stock valued at $6,230,000 after purchasing an additional 93,894 shares during the period. Institutional investors and hedge funds own 15.83% of the company's stock.
Sapiens International Company Profile
Sapiens International Corporation N.V. provides software solutions for the insurance and financial services industries in North America, Europe, the Asia Pacific, and South Africa. The company offers software platform and solutions for personal, commercial, and specialty lines, as well as reinsurance and workers' compensation, including Sapiens CoreSuite and Sapiens IDITSuite; and life, pension, and annuities, such as Sapiens CoreSuite, Sapiens UnderwritingPro, Sapiens ApplicationPro, Sapiens IllustrationPro, and Sapiens ConsolidationMaster.
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