Sapiens International (NASDAQ:SPNS) Shares Gap Up - Time to Buy?

Key Points

• Sapiens International shares saw a significant gap up, opening at $31.60 after closing at $26.52, with the last traded price at $30.82.
• Wall Street analysts have mixed views on the stock, with Barclays raising the price target to $31.00 and an average rating of "Hold" across market opinions.
• The company reported earnings per share of $0.37 for the most recent quarter, beating estimates and showing a 1.4% revenue increase year-over-year.

Sapiens International Corporation N.V. (NASDAQ:SPNS - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $26.52, but opened at $31.60. Sapiens International shares last traded at $30.82, with a volume of 178,946 shares.

Wall Street Analyst Weigh In

Several analysts recently commented on SPNS shares. Barclays raised their price target on shares of Sapiens International from $28.00 to $31.00 and gave the company an "underweight" rating in a research report on Friday, May 9th. Wall Street Zen cut Sapiens International from a "buy" rating to a "hold" rating in a report on Friday, July 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, Sapiens International has an average rating of "Hold" and a consensus target price of $31.33.

Sapiens International Stock Up 8.9%

The firm's 50 day moving average is $28.97 and its 200-day moving average is $27.85. The firm has a market cap of $1.61 billion, a PE ratio of 22.15 and a beta of 0.93.

Sapiens International (NASDAQ:SPNS - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.02. The firm had revenue of $136.11 million for the quarter, compared to analysts' expectations of $136.25 million. Sapiens International had a net margin of 13.37% and a return on equity of 17.30%. Sapiens International's revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 earnings per share. On average, analysts forecast that Sapiens International Corporation N.V. will post 1.42 earnings per share for the current year.

Institutional Trading of Sapiens International

Several large investors have recently modified their holdings of SPNS. Topline Capital Management LLC acquired a new stake in Sapiens International in the fourth quarter valued at $24,147,000. Goldman Sachs Group Inc. boosted its holdings in Sapiens International by 227.2% in the first quarter. Goldman Sachs Group Inc. now owns 550,343 shares of the technology company's stock worth $14,909,000 after purchasing an additional 382,138 shares during the period. Nuveen LLC bought a new stake in Sapiens International during the first quarter valued at $7,044,000. Millennium Management LLC raised its holdings in shares of Sapiens International by 217.1% during the first quarter. Millennium Management LLC now owns 371,368 shares of the technology company's stock worth $10,060,000 after purchasing an additional 254,259 shares during the period. Finally, Royce & Associates LP boosted its holdings in shares of Sapiens International by 25.9% in the 1st quarter. Royce & Associates LP now owns 1,174,043 shares of the technology company's stock valued at $31,805,000 after buying an additional 241,340 shares during the period. 30.73% of the stock is currently owned by institutional investors and hedge funds.

About Sapiens International

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.

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