Sapiens International (NASDAQ:SPNS) Stock Price Crosses Above 200-Day Moving Average - Here's Why

Sapiens International Corporation N.V. (NASDAQ:SPNS - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $27.49 and traded as high as $29.76. Sapiens International shares last traded at $29.71, with a volume of 206,253 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently commented on SPNS. Barclays increased their price target on shares of Sapiens International from $28.00 to $31.00 and gave the company an "underweight" rating in a report on Friday, May 9th. Wall Street Zen raised shares of Sapiens International from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $34.25.

Sapiens International Price Performance

The company's fifty day simple moving average is $28.93 and its 200-day simple moving average is $27.56. The firm has a market capitalization of $1.67 billion, a PE ratio of 23.02 and a beta of 0.95.

Sapiens International (NASDAQ:SPNS - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. Sapiens International had a net margin of 13.37% and a return on equity of 17.30%. The business had revenue of $136.11 million for the quarter, compared to analyst estimates of $136.25 million. During the same period in the previous year, the company earned $0.36 earnings per share. The business's revenue for the quarter was up 1.4% on a year-over-year basis. As a group, equities research analysts anticipate that Sapiens International Corporation N.V. will post 1.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sapiens International

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its holdings in shares of Sapiens International by 73.1% during the second quarter. GAMMA Investing LLC now owns 919 shares of the technology company's stock valued at $27,000 after buying an additional 388 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Sapiens International by 2,216.7% during the first quarter. Larson Financial Group LLC now owns 973 shares of the technology company's stock valued at $26,000 after buying an additional 931 shares during the last quarter. Quarry LP purchased a new stake in Sapiens International in the fourth quarter valued at $37,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Sapiens International by 2,507.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,876 shares of the technology company's stock valued at $132,000 after purchasing an additional 4,689 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new stake in Sapiens International in the first quarter valued at $209,000. 30.73% of the stock is owned by hedge funds and other institutional investors.

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.