StockNews.com downgraded shares of Sapiens International (NASDAQ:SPNS – Free Report) from a strong-buy rating to a buy rating in a research note published on Saturday morning.
Separately, Needham & Company LLC reissued a buy rating and set a $38.00 target price on shares of Sapiens International in a research report on Wednesday, May 8th.
Check Out Our Latest Stock Analysis on Sapiens International
Sapiens International Stock Performance
Sapiens International (NASDAQ:SPNS – Get Free Report) last released its earnings results on Wednesday, May 8th. The technology company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $134.25 million for the quarter, compared to the consensus estimate of $133.63 million. Sapiens International had a return on equity of 17.41% and a net margin of 12.52%. Sell-side analysts predict that Sapiens International will post 1.43 earnings per share for the current year.
Hedge Funds Weigh In On Sapiens International
Several hedge funds have recently bought and sold shares of the business. Summit Securities Group LLC bought a new position in Sapiens International in the 2nd quarter valued at $34,000. Bank of New York Mellon Corp grew its position in Sapiens International by 17.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 101,356 shares of the technology company’s stock valued at $3,439,000 after acquiring an additional 15,098 shares during the last quarter. Schwartz Investment Counsel Inc. grew its position in Sapiens International by 3.6% in the 2nd quarter. Schwartz Investment Counsel Inc. now owns 74,052 shares of the technology company’s stock valued at $2,513,000 after acquiring an additional 2,600 shares during the last quarter. 1620 Investment Advisors Inc. lifted its holdings in shares of Sapiens International by 16.6% in the 2nd quarter. 1620 Investment Advisors Inc. now owns 11,551 shares of the technology company’s stock worth $392,000 after buying an additional 1,643 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Sapiens International in the 2nd quarter worth $16,616,000. Institutional investors own 30.73% of the company’s stock.
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.
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