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

Sapiens International (NASDAQ:SPNS) had its price objective lowered by Needham & Company LLC from $44.00 to $35.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other brokerages also recently commented on SPNS. The Goldman Sachs Group raised their price objective on shares of Sapiens International from $38.00 to $43.00 and gave the company a “buy” rating in a research report 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 increased their target price on shares of Sapiens International from $30.00 to $38.00 and gave the company an “underweight” rating in a report on Friday, August 2nd.

Sapiens International Price Performance

Shares of NASDAQ:SPNS opened at $28.56 on Tuesday. The company has a quick ratio of 2.16, a current ratio of 2.18 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.59 billion, a P/E ratio of 22.49 and a beta of 1.25. Sapiens International has a 52 week low of $25.00 and a 52 week high of $41.22. The company has a 50-day moving average price of $35.93 and a 200 day moving average price of $35.33.

Sapiens International (NASDAQ:SPNS) last announced its quarterly earnings data on Monday, November 11th. The technology company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The firm had revenue of $137.00 million during the quarter, compared to analyst estimates of $140.10 million. Sapiens International had a net margin of 13.23% and a return on equity of 17.61%. Sapiens International’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 EPS. Research analysts predict that Sapiens International will post 1.42 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Sapiens International by 74.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,463 shares of the technology company’s stock worth $614,000 after purchasing an additional 7,022 shares in the last quarter. FMR LLC increased its stake in shares of Sapiens International by 80.8% during the 3rd quarter. FMR LLC now owns 17,646 shares of the technology company’s stock worth $658,000 after purchasing an additional 7,887 shares in the last quarter. Zions Bancorporation N.A. increased its stake in shares of Sapiens International by 16.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 58,002 shares of the technology company’s stock worth $2,162,000 after purchasing an additional 8,404 shares in the last quarter. MQS Management LLC purchased a new position in shares of Sapiens International during the 3rd quarter worth approximately $230,000. Finally, Aptus Capital Advisors LLC increased its stake in shares of Sapiens International by 15.6% during the 3rd quarter. Aptus Capital Advisors LLC now owns 160,540 shares of the technology company’s stock worth $5,983,000 after purchasing an additional 21,696 shares in the last quarter. 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.