Needham & Company LLC Has Lowered Expectations for Sapiens International (NASDAQ:SPNS) Stock Price

Sapiens International (NASDAQ:SPNS) had its target price decreased by Needham & Company LLC from $44.00 to $35.00 in a research report sent to investors on Tuesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

A number of other brokerages have also weighed in on SPNS. StockNews.com upgraded shares of Sapiens International from a “buy” rating to a “strong-buy” rating in a report on Monday. Barclays lifted their price target on shares of Sapiens International from $30.00 to $38.00 and gave the company an “underweight” rating in a 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 report on Friday, August 2nd.

Sapiens International Stock Up 0.1 %

Shares of NASDAQ SPNS opened at $28.56 on Tuesday. Sapiens International has a 1 year low of $25.00 and a 1 year high of $41.22. The firm’s 50 day moving average price is $35.93 and its 200 day moving average price is $35.33. The firm has a market cap of $1.59 billion, a P/E ratio of 22.49 and a beta of 1.25. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.16 and a current ratio of 2.18.

Sapiens International (NASDAQ:SPNS) last announced its quarterly earnings results on Monday, November 11th. The technology company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The company had revenue of $137.00 million during the quarter, compared to analyst estimates of $140.10 million. Sapiens International had a net margin of 13.23% and a return on equity of 17.61%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 EPS. As a group, sell-side analysts anticipate that Sapiens International will post 1.42 earnings per share for the current year.

Hedge Funds Weigh In On Sapiens International

Several hedge funds and other institutional investors have recently made changes to their positions in SPNS. Sei Investments Co. lifted its holdings in shares of Sapiens International by 8.5% during the 1st quarter. Sei Investments Co. now owns 134,486 shares of the technology company’s stock valued at $4,325,000 after acquiring an additional 10,523 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in Sapiens International by 1.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 74,258 shares of the technology company’s stock worth $2,388,000 after buying an additional 1,361 shares during the period. Foundry Partners LLC increased its stake in Sapiens International by 11.2% during the 1st quarter. Foundry Partners LLC now owns 130,210 shares of the technology company’s stock worth $4,188,000 after buying an additional 13,166 shares during the period. Acadian Asset Management LLC increased its stake in Sapiens International by 9.1% during the 1st quarter. Acadian Asset Management LLC now owns 954,791 shares of the technology company’s stock worth $30,687,000 after buying an additional 79,302 shares during the period. Finally, Hillsdale Investment Management Inc. increased its stake in Sapiens International by 8.5% during the 1st quarter. Hillsdale Investment Management Inc. now owns 153,400 shares of the technology company’s stock worth $4,933,000 after buying an additional 12,000 shares during the period. Institutional investors and hedge funds 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.