Sapiens International (NASDAQ:SPNS) Downgraded to Buy at StockNews.com

StockNews.com cut shares of Sapiens International (NASDAQ:SPNS) from a strong-buy rating to a buy rating in a report issued on Thursday.

Several other research firms also recently issued reports on SPNS. Barclays upped their price target on Sapiens International from $30.00 to $38.00 and gave the stock an underweight rating in a research note on Friday, August 2nd. Needham & Company LLC upped their target price on Sapiens International from $38.00 to $44.00 and gave the stock a buy rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group lifted their price target 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.

Sapiens International Price Performance

NASDAQ SPNS opened at $36.63 on Thursday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.02 billion, a PE ratio of 31.31 and a beta of 1.25. Sapiens International has a 12-month low of $24.39 and a 12-month high of $41.22. The company has a 50 day moving average price of $36.33 and a two-hundred day moving average price of $34.24.

Sapiens International (NASDAQ:SPNS) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $136.80 million for the quarter, compared to the consensus estimate of $137.78 million. Sapiens International had a net margin of 12.92% and a return on equity of 17.60%. Sapiens International’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 EPS. As a group, equities analysts predict that Sapiens International will post 1.42 earnings per share for the current fiscal year.

Sapiens International Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Thursday, September 12th. Stockholders of record on Wednesday, August 28th were paid a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This is a positive change from Sapiens International’s previous Semi-Annual dividend of $0.28. This represents a dividend yield of 1.6%. Sapiens International’s payout ratio is presently 49.57%.

Institutional Trading of Sapiens International

Hedge funds have recently added to or reduced their stakes in the business. Mackenzie Financial Corp acquired a new position in shares of Sapiens International during the second quarter worth approximately $607,000. The Manufacturers Life Insurance Company raised its stake in Sapiens International by 5.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,328 shares of the technology company’s stock valued at $384,000 after purchasing an additional 569 shares during the last quarter. AQR Capital Management LLC acquired a new position in Sapiens International during the 2nd quarter valued at $258,000. Magnetar Financial LLC bought a new stake in Sapiens International in the 2nd quarter valued at $236,000. Finally, Sei Investments Co. grew its position in Sapiens International by 1.2% in the 2nd quarter. Sei Investments Co. now owns 136,041 shares of the technology company’s stock worth $4,616,000 after purchasing an additional 1,555 shares during the last quarter. Institutional investors own 30.73% of the company’s stock.

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.