Needham & Company LLC Increases Sapiens International (NASDAQ:SPNS) Price Target to $44.00

Sapiens International (NASDAQ:SPNS) had its price target raised by Needham & Company LLC from $38.00 to $44.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Separately, StockNews.com lowered shares of Sapiens International from a strong-buy rating to a buy rating in a research report on Saturday, July 27th.

Sapiens International Stock Down 4.0 %

Sapiens International stock opened at $34.30 on Friday. The company has a 50-day simple moving average of $35.54 and a 200-day simple moving average of $32.35. The firm has a market capitalization of $1.89 billion, a P/E ratio of 29.32 and a beta of 1.22. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.84 and a current ratio of 1.84. Sapiens International has a one year low of $24.39 and a one year high of $41.22.

Sapiens International (NASDAQ:SPNS) last announced its earnings results on Thursday, August 1st. The technology company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $136.80 million during the quarter, compared to analyst estimates of $137.78 million. Sapiens International had a net margin of 12.92% and a return on equity of 17.82%. Sapiens International’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 EPS. As a group, equities analysts expect that Sapiens International will post 1.43 earnings per share for the current year.

Hedge Funds Weigh In On Sapiens International

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Sapiens International by 8.9% during the third quarter. Vanguard Group Inc. now owns 1,295,832 shares of the technology company’s stock valued at $36,841,000 after purchasing an additional 106,358 shares during the last quarter. SG Americas Securities LLC grew its holdings in Sapiens International by 66.4% during the fourth quarter. SG Americas Securities LLC now owns 7,763 shares of the technology company’s stock valued at $225,000 after purchasing an additional 3,098 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Sapiens International during the fourth quarter valued at approximately $25,000. Schwartz Investment Counsel Inc. grew its holdings in Sapiens International by 43.1% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 59,052 shares of the technology company’s stock valued at $1,709,000 after purchasing an additional 17,800 shares during the last quarter. Finally, GHP Investment Advisors Inc. grew its holdings in Sapiens International by 21.2% during the fourth quarter. GHP Investment Advisors Inc. now owns 20,828 shares of the technology company’s stock valued at $603,000 after purchasing an additional 3,638 shares during the last quarter. Institutional investors and hedge funds own 30.73% of the company’s stock.

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.