Sapiens International (NASDAQ:SPNS) Cut to "Hold" at Needham & Company LLC

Key Points

• Needham & Company LLC restated a hold rating for Sapiens International (NASDAQ:SPNS), setting a price target of $35.00, which implies a potential downside of 17.89% from the previous close.
• Sapiens International's stock recently surged by 44.5%, trading at $42.63 with a significant increase in trading volume, reaching 17,909,204 shares on that day.
• The company reported quarterly earnings of $0.33 EPS, slightly above the consensus estimate of $0.32, and has a consensus rating of "Hold" from multiple analysts.

Sapiens International (NASDAQ:SPNS - Get Free Report) was downgraded by stock analysts at Needham & Company LLC from a "buy" rating to a "hold" rating in a research report issued on Wednesday, Marketbeat reports. They presently have a $35.00 price objective on the technology company's stock. Needham & Company LLC's price objective would indicate a potential downside of 17.93% from the company's current price.

SPNS has been the topic of a number of other research reports. Wall Street Zen cut Sapiens International from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Barclays boosted their price objective on shares of Sapiens International from $28.00 to $31.00 and gave the company an "underweight" rating in a research note on Friday, May 9th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $31.33.

Sapiens International Price Performance

Shares of NASDAQ SPNS traded down $0.0350 during trading on Wednesday, reaching $42.6450. 844,899 shares of the stock traded hands, compared to its average volume of 376,912. Sapiens International has a 52-week low of $23.69 and a 52-week high of $42.76. The company has a 50-day moving average of $30.03 and a 200-day moving average of $28.33. The stock has a market capitalization of $2.38 billion, a P/E ratio of 34.95 and a beta of 0.93.

Institutional Investors Weigh In On Sapiens International

Large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Sapiens International by 2,507.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,876 shares of the technology company's stock worth $132,000 after buying an additional 4,689 shares during the last quarter. GAMMA Investing LLC boosted its position in Sapiens International by 3,873.8% during the 1st quarter. GAMMA Investing LLC now owns 14,385 shares of the technology company's stock valued at $390,000 after acquiring an additional 14,023 shares in the last quarter. MetLife Investment Management LLC boosted its position in Sapiens International by 7.3% during the 4th quarter. MetLife Investment Management LLC now owns 18,535 shares of the technology company's stock valued at $498,000 after acquiring an additional 1,263 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Sapiens International by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 8,668 shares of the technology company's stock valued at $233,000 after purchasing an additional 2,851 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Sapiens International by 3.6% during the fourth quarter. Barclays PLC now owns 56,586 shares of the technology company's stock valued at $1,520,000 after purchasing an additional 1,946 shares in the last quarter. 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.