Sapiens International Co. (NASDAQ:SPNS) Sees Large Growth in Short Interest

Sapiens International Co. (NASDAQ:SPNS) was the recipient of a significant growth in short interest in June. As of June 15th, there was short interest totalling 299,600 shares, a growth of 41.3% from the May 31st total of 212,100 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily volume of 142,300 shares, the days-to-cover ratio is currently 2.1 days.

Sapiens International Trading Up 0.6 %

NASDAQ SPNS traded up $0.22 on Monday, reaching $34.15. 133,223 shares of the company were exchanged, compared to its average volume of 126,203. Sapiens International has a fifty-two week low of $24.39 and a fifty-two week high of $35.33. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.04. The business’s fifty day moving average price is $33.15 and its 200 day moving average price is $30.72. The stock has a market capitalization of $1.88 billion, a P/E ratio of 29.19 and a beta of 1.22.

Sapiens International (NASDAQ:SPNS) last released its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. The firm had revenue of $134.25 million during the quarter, compared to analysts’ expectations of $133.63 million. Sapiens International had a net margin of 12.52% and a return on equity of 17.41%. Analysts forecast that Sapiens International will post 1.43 earnings per share for the current year.

Institutional Trading of Sapiens International

Institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new position in Sapiens International during the 4th quarter valued at about $25,000. Financial Management Professionals Inc. purchased a new stake in shares of Sapiens International during the first quarter worth $40,000. Psagot Value Holdings Ltd. Israel purchased a new position in Sapiens International in the fourth quarter valued at $41,000. Lazard Asset Management LLC purchased a new stake in Sapiens International during the 1st quarter worth about $192,000. Finally, Foyston Gordon & Payne Inc acquired a new stake in Sapiens International in the 1st quarter valued at about $217,000. Hedge funds and other institutional investors own 30.73% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 price objective on shares of Sapiens International in a research note on Wednesday, May 8th.

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.