Sapiens International Co. (NASDAQ:SPNS) Sees Significant Drop in Short Interest

Sapiens International Co. (NASDAQ:SPNS) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 467,500 shares, a decrease of 20.3% from the September 15th total of 586,300 shares. Approximately 1.9% of the company’s stock are sold short. Based on an average daily trading volume, of 198,000 shares, the days-to-cover ratio is presently 2.4 days.

SPNS stock opened at $29.05 on Friday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 49.24, a P/E/G ratio of 6.89 and a beta of 1.32. Sapiens International has a 12 month low of $13.55 and a 12 month high of $35.23. The firm has a 50 day moving average of $31.19 and a two-hundred day moving average of $27.65.

Sapiens International (NASDAQ:SPNS) last posted its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.05. The business had revenue of $93.10 million during the quarter, compared to the consensus estimate of $91.21 million. Sapiens International had a net margin of 8.60% and a return on equity of 18.94%. Sapiens International’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 EPS. On average, research analysts expect that Sapiens International will post 0.87 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of SPNS. Assenagon Asset Management S.A. boosted its holdings in shares of Sapiens International by 557.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 159,599 shares of the technology company’s stock worth $4,881,000 after buying an additional 135,315 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Sapiens International by 16.5% during the 2nd quarter. Vanguard Group Inc. now owns 767,793 shares of the technology company’s stock worth $21,483,000 after buying an additional 108,676 shares during the period. Royal Bank of Canada boosted its holdings in shares of Sapiens International by 40.2% during the 1st quarter. Royal Bank of Canada now owns 327,534 shares of the technology company’s stock worth $6,230,000 after buying an additional 93,894 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Sapiens International during the 2nd quarter worth $1,885,000. Finally, AXA bought a new stake in shares of Sapiens International during the 1st quarter worth $1,217,000. 21.65% of the stock is owned by institutional investors and hedge funds.

Several research analysts have weighed in on SPNS shares. Barclays reiterated a “hold” rating on shares of Sapiens International in a research note on Wednesday, August 5th. Zacks Investment Research raised shares of Sapiens International from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Wednesday, September 23rd. Needham & Company LLC boosted their target price on shares of Sapiens International from $28.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Finally, BidaskClub downgraded shares of Sapiens International from a “hold” rating to a “sell” rating in a research report on Thursday, September 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $32.00.

Sapiens International Company Profile

Sapiens International Corporation N.V. provides software solutions for the insurance and financial services industries in North America, Europe, the Asia Pacific, and South Africa. The company offers software platform and solutions for personal, commercial, and specialty lines, as well as reinsurance and workers' compensation, including Sapiens CoreSuite and Sapiens IDITSuite; and life, pension, and annuities, such as Sapiens CoreSuite, Sapiens UnderwritingPro, Sapiens ApplicationPro, Sapiens IllustrationPro, and Sapiens ConsolidationMaster.

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