Needham & Company LLC Lowers Sapiens International (NASDAQ:SPNS) Price Target to $35.00

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

Several other research firms have also recently commented on SPNS. StockNews.com upgraded shares of Sapiens International from a “buy” rating to a “strong-buy” rating in a report on Monday, November 11th. Barclays increased their target price on 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 Sapiens International from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, August 2nd.

Sapiens International Trading Down 2.0 %

Shares of NASDAQ SPNS opened at $28.00 on Tuesday. The stock has a fifty day simple moving average of $35.79 and a 200-day simple moving average of $35.31. Sapiens International has a twelve month low of $25.00 and a twelve month high of $41.22. The stock has a market capitalization of $1.56 billion, a PE ratio of 22.05 and a beta of 1.25. The company has a current ratio of 2.18, a quick ratio of 2.16 and a debt-to-equity ratio of 0.04.

Sapiens International (NASDAQ:SPNS) last issued its quarterly earnings results on Monday, November 11th. The technology company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). The business had revenue of $137.00 million during the quarter, compared to analysts’ expectations of $140.10 million. Sapiens International had a net margin of 13.23% and a return on equity of 17.61%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 EPS. On average, equities analysts forecast that Sapiens International will post 1.42 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. National Bank of Canada FI acquired a new stake in shares of Sapiens International in the third quarter valued at about $26,000. Summit Securities Group LLC purchased a new stake in shares of Sapiens International during the 2nd quarter worth approximately $34,000. Financial Management Professionals Inc. raised its holdings in Sapiens International by 57.9% during the third quarter. Financial Management Professionals Inc. now owns 1,945 shares of the technology company’s stock worth $72,000 after purchasing an additional 713 shares during the last quarter. Morgan Dempsey Capital Management LLC lifted its holdings in shares of Sapiens International by 9.5% in the second quarter. Morgan Dempsey Capital Management LLC now owns 4,206 shares of the technology company’s stock valued at $143,000 after purchasing an additional 365 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Sapiens International during the 1st quarter worth approximately $192,000. Institutional investors and hedge funds 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.