Sapiens International (NASDAQ:SPNS) Lifted to Buy at Zacks Investment Research

Sapiens International (NASDAQ:SPNS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, Zacks.com reports. The brokerage presently has a $22.00 target price on the technology company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 9.45% from the company’s previous close.

According to Zacks, “SAPIENS INTL NV is a leading global provider of proven IT solutions that modernize business processes and enable insurance organizations and other leading companies to adapt quickly to change. Serving as consultants and advisors, Sapiens works with companies to analyze their current systems and develop a blueprint for aligning technology with business goals. The company focuses on delivering innovative solutions that allow companies to build on existing IT assets. “

A number of other equities analysts have also recently commented on SPNS. Roth Capital increased their target price on Sapiens International from $5.00 to $8.75 in a report on Monday, August 5th. Barclays reissued a “hold” rating on shares of Sapiens International in a report on Wednesday, August 7th. Finally, BidaskClub raised Sapiens International from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $15.08.

SPNS stock traded up $0.60 during mid-day trading on Thursday, reaching $20.10. 58,331 shares of the company’s stock were exchanged, compared to its average volume of 99,910. The company has a market cap of $992.49 million, a price-to-earnings ratio of 37.92, a price-to-earnings-growth ratio of 2.75 and a beta of 1.00. The stock’s 50 day moving average is $18.87 and its 200 day moving average is $16.91. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.49 and a quick ratio of 1.49. Sapiens International has a 12-month low of $10.11 and a 12-month high of $20.62.

Sapiens International (NASDAQ:SPNS) last issued its quarterly earnings results on Monday, August 5th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The company had revenue of $79.53 million for the quarter, compared to the consensus estimate of $78.62 million. Sapiens International had a return on equity of 15.34% and a net margin of 6.91%. Sapiens International’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.13 earnings per share. On average, research analysts forecast that Sapiens International will post 0.71 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the business. Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of Sapiens International by 14.0% during the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,174,341 shares of the technology company’s stock valued at $19,518,000 after acquiring an additional 144,100 shares during the last quarter. Invesco Ltd. acquired a new position in shares of Sapiens International during the second quarter valued at approximately $16,137,000. Renaissance Technologies LLC raised its holdings in shares of Sapiens International by 28.8% during the second quarter. Renaissance Technologies LLC now owns 599,500 shares of the technology company’s stock valued at $9,964,000 after acquiring an additional 134,030 shares during the last quarter. Altshuler Shaham Ltd raised its holdings in shares of Sapiens International by 14.7% during the second quarter. Altshuler Shaham Ltd now owns 332,108 shares of the technology company’s stock valued at $5,530,000 after acquiring an additional 42,553 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Sapiens International by 134.0% during the second quarter. Acadian Asset Management LLC now owns 198,486 shares of the technology company’s stock valued at $3,300,000 after acquiring an additional 113,674 shares during the last quarter. 14.64% of the stock is owned by institutional investors and hedge funds.

Sapiens International Company Profile

Sapiens International Corporation N.V. provides software solutions for the insurance and financial services industries in North America, Europe, the Asia Pacific, and South Africa. The company offers software platform and solutions for personal, commercial, and specialty lines, as well as reinsurance and workers' compensation, including Sapiens CoreSuite and Sapiens IDITSuite; and life, pension, and annuities, such as Sapiens CoreSuite, Sapiens UnderwritingPro, Sapiens ApplicationPro, Sapiens IllustrationPro, and Sapiens ConsolidationMaster.

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