Sapiens International (NASDAQ:SPNS) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Sapiens International (NASDAQ:SPNS) in a report issued on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a $38.00 target price on the technology company’s stock.

SPNS has been the topic of several other research reports. The Goldman Sachs Group raised their target price on shares of Sapiens International from $34.00 to $38.00 and gave the company a buy rating in a research note on Wednesday, February 21st. Barclays lifted their target price on shares of Sapiens International from $28.00 to $30.00 and gave the stock an underweight rating in a report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Sapiens International has an average rating of Moderate Buy and a consensus target price of $35.33.

Sapiens International Stock Performance

Shares of Sapiens International stock opened at $33.82 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.11 and a quick ratio of 2.11. The firm has a 50 day simple moving average of $31.01 and a 200 day simple moving average of $28.58. Sapiens International has a fifty-two week low of $22.70 and a fifty-two week high of $35.33. The firm has a market cap of $1.86 billion, a P/E ratio of 29.93 and a beta of 1.17.

Sapiens International (NASDAQ:SPNS) last released its earnings results on Tuesday, February 20th. The technology company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. The company had revenue of $130.86 million during the quarter, compared to analysts’ expectations of $130.85 million. Sapiens International had a return on equity of 16.92% and a net margin of 12.14%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the firm earned $0.31 EPS. Sell-side analysts predict that Sapiens International will post 1.37 earnings per share for the current fiscal year.

Sapiens International Increases Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Thursday, April 18th. Shareholders of record on Friday, April 5th were issued a dividend of $0.28 per share. The ex-dividend date was Thursday, April 4th. This is a positive change from Sapiens International’s previous Semi-Annual dividend of $0.26. This represents a yield of 1.7%. Sapiens International’s payout ratio is currently 50.00%.

Institutional Investors Weigh In On Sapiens International

Hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC raised its holdings in Sapiens International by 284.9% during the 3rd quarter. Acadian Asset Management LLC now owns 785,265 shares of the technology company’s stock worth $22,301,000 after buying an additional 581,272 shares during the period. Confluence Investment Management LLC acquired a new stake in shares of Sapiens International during the first quarter worth $3,807,000. Vanguard Group Inc. raised its holdings in shares of Sapiens International by 8.9% during the third quarter. Vanguard Group Inc. now owns 1,295,832 shares of the technology company’s stock worth $36,841,000 after acquiring an additional 106,358 shares during the period. Altshuler Shaham Ltd lifted its position in Sapiens International by 585.2% in the 4th quarter. Altshuler Shaham Ltd now owns 113,247 shares of the technology company’s stock valued at $3,288,000 after acquiring an additional 96,719 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Sapiens International by 71.6% in the 3rd quarter. Rhumbline Advisers now owns 186,904 shares of the technology company’s stock worth $5,314,000 after purchasing an additional 77,978 shares during the period. 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.