Needham & Company LLC Increases Sapiens International (NASDAQ:SPNS) Price Target to $44.00

Sapiens International (NASDAQ:SPNS) had its target price boosted by Needham & Company LLC from $38.00 to $44.00 in a research report released on Friday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

Separately, StockNews.com cut Sapiens International from a strong-buy rating to a buy rating in a research report on Saturday, July 27th.

Sapiens International Price Performance

SPNS opened at $34.30 on Friday. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 29.32 and a beta of 1.22. Sapiens International has a 1 year low of $24.39 and a 1 year high of $41.22. 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 stock has a fifty day moving average price of $35.54 and a 200 day moving average price of $32.35.

Sapiens International (NASDAQ:SPNS) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $136.80 million during the quarter, compared to analysts’ expectations of $137.78 million. Sapiens International had a return on equity of 17.82% and a net margin of 12.92%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 earnings per share. Analysts forecast that Sapiens International will post 1.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Sapiens International

A number of institutional investors have recently made changes to their positions in the business. Foyston Gordon & Payne Inc increased its stake in shares of Sapiens International by 8.2% in the second 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 period. Torray Investment Partners LLC increased its stake in shares of Sapiens International by 1.3% in the fourth quarter. Torray Investment Partners LLC now owns 43,754 shares of the technology company’s stock worth $1,266,000 after purchasing an additional 581 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Sapiens International in the fourth quarter worth about $25,000. Summit Securities Group LLC bought a new position in shares of Sapiens International in the second quarter worth about $34,000. Finally, Financial Management Professionals Inc. bought a new position in shares of Sapiens International in the first quarter worth about $40,000. 30.73% of the stock is currently owned by institutional investors.

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.