Needham & Company LLC Lowers Sapiens International (NASDAQ:SPNS) Price Target to $35.00

Sapiens International (NASDAQ:SPNS) had its price target decreased by equities researchers at Needham & Company LLC from $44.00 to $35.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target suggests a potential upside of 20.27% from the stock’s previous close.

A number of other analysts have also issued reports on SPNS. The Goldman Sachs Group lifted their price target on Sapiens International from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. StockNews.com raised shares of Sapiens International from a “buy” rating to a “strong-buy” rating in a report on Monday. Finally, Barclays raised their price target on shares of Sapiens International from $30.00 to $38.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd.

Sapiens International Trading Down 26.2 %

SPNS stock opened at $29.10 on Tuesday. Sapiens International has a 12-month low of $24.91 and a 12-month high of $41.22. The business’s 50-day moving average is $36.34 and its 200 day moving average is $35.45. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 23.85 and a beta of 1.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Morgan Dempsey Capital Management LLC boosted its holdings in shares of Sapiens International by 9.5% during the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 4,206 shares of the technology company’s stock worth $143,000 after purchasing an additional 365 shares during the last quarter. Foyston Gordon & Payne Inc boosted its holdings in shares of Sapiens International by 8.2% during the 2nd quarter. Foyston Gordon & Payne Inc now owns 7,317 shares of the technology company’s stock worth $248,000 after purchasing an additional 556 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Sapiens International by 5.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,328 shares of the technology company’s stock worth $384,000 after purchasing an additional 569 shares during the last quarter. Financial Management Professionals Inc. boosted its holdings in shares of Sapiens International by 57.9% during the 3rd quarter. Financial Management Professionals Inc. now owns 1,945 shares of the technology company’s stock worth $72,000 after purchasing an additional 713 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new position in Sapiens International in the second quarter valued at approximately $34,000. 30.73% of the stock is currently owned by institutional investors and hedge funds.

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.