Sapiens International (NASDAQ:SPNS) Cut to “Hold” at Zacks Investment Research

Sapiens International (NASDAQ:SPNS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

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. “

Several other analysts also recently weighed in on SPNS. Jefferies Financial Group assumed coverage on Sapiens International in a research note on Wednesday, January 20th. They issued a “buy” rating and a $39.00 price target on the stock. The Goldman Sachs Group began coverage on Sapiens International in a research note on Wednesday, January 13th. They set a “neutral” rating and a $35.00 target price on the stock. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $36.29.

Shares of SPNS stock opened at $32.27 on Tuesday. The stock has a market capitalization of $1.76 billion, a PE ratio of 52.05, a P/E/G ratio of 6.32 and a beta of 1.36. Sapiens International has a 1-year low of $21.01 and a 1-year high of $35.85. The business has a 50-day moving average of $32.31 and a 200 day moving average of $31.09. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.60 and a quick ratio of 1.60.

Sapiens International (NASDAQ:SPNS) last posted its quarterly earnings results on Thursday, February 25th. The technology company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $101.66 million for the quarter, compared to the consensus estimate of $100.60 million. Sapiens International had a return on equity of 19.32% and a net margin of 8.78%. Analysts anticipate that Sapiens International will post 0.92 EPS for the current year.

Several large investors have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Sapiens International by 2.4% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 622,938 shares of the technology company’s stock valued at $23,522,000 after buying an additional 14,789 shares during the period. Phoenix Holdings Ltd. boosted its position in shares of Sapiens International by 490.5% during the fourth quarter. Phoenix Holdings Ltd. now owns 511,891 shares of the technology company’s stock valued at $15,645,000 after buying an additional 425,203 shares during the period. Morgan Stanley boosted its position in shares of Sapiens International by 441.6% during the fourth quarter. Morgan Stanley now owns 284,292 shares of the technology company’s stock valued at $8,703,000 after buying an additional 231,805 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Sapiens International by 46.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 234,175 shares of the technology company’s stock valued at $7,168,000 after acquiring an additional 74,576 shares in the last quarter. Finally, Crawford Investment Counsel Inc. raised its stake in shares of Sapiens International by 48.2% during the fourth quarter. Crawford Investment Counsel Inc. now owns 147,198 shares of the technology company’s stock valued at $4,506,000 after acquiring an additional 47,880 shares in the last quarter. Institutional investors and hedge funds own 21.44% of the company’s stock.

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 Sapiens CoreSuite and Sapiens IDITSuite for personal, commercial, and specialty lines, as well as reinsurance and workers' compensation; and Sapiens CoreSuite, Sapiens UnderwritingPro, Sapiens ApplicationPro, Sapiens IllustrationPro, and Sapiens ConsolidationMaster for life, pension, and annuities.

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