Sapiens International (NASDAQ:SPNS) Given New $35.00 Price Target at Needham & Company LLC

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

SPNS has been the subject of a number of other research reports. The Goldman Sachs Group boosted their target price on shares of Sapiens International from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Barclays boosted their price objective on Sapiens International from $30.00 to $38.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. Finally, StockNews.com upgraded Sapiens International from a “buy” rating to a “strong-buy” rating in a research report on Monday.

Sapiens International Stock Performance

Shares of SPNS stock opened at $28.11 on Tuesday. The company has a market capitalization of $1.57 billion, a P/E ratio of 23.04 and a beta of 1.25. Sapiens International has a 12-month low of $24.91 and a 12-month high of $41.22. The business’s 50 day moving average is $36.20 and its two-hundred day moving average is $35.43. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.04.

Sapiens International (NASDAQ:SPNS) last announced its earnings results on Monday, November 11th. The technology company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The business had revenue of $137.00 million for the quarter, compared to analysts’ expectations of $140.10 million. Sapiens International had a net margin of 12.92% and a return on equity of 17.60%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the business earned $0.32 EPS. Analysts expect that Sapiens International will post 1.42 EPS for the current fiscal year.

Sapiens International Increases Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Thursday, September 12th. Investors of record on Wednesday, August 28th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This is a positive change from Sapiens International’s previous Semi-Annual dividend of $0.28. This represents a yield of 1.6%. Sapiens International’s payout ratio is presently 47.54%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SPNS. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Sapiens International in the second quarter valued at approximately $16,616,000. Janus Henderson Group PLC grew its holdings in Sapiens International by 155.4% in the 1st quarter. Janus Henderson Group PLC now owns 599,386 shares of the technology company’s stock valued at $19,276,000 after buying an additional 364,695 shares in the last quarter. Y.D. More Investments Ltd acquired a new stake in shares of Sapiens International in the 2nd quarter worth $6,915,000. Assenagon Asset Management S.A. purchased a new position in shares of Sapiens International during the 2nd quarter worth $3,339,000. Finally, Renaissance Technologies LLC boosted its position in shares of Sapiens International by 14.6% during the 2nd quarter. Renaissance Technologies LLC now owns 681,004 shares of the technology company’s stock valued at $23,106,000 after acquiring an additional 87,001 shares during the last quarter. 30.73% of the stock is owned by hedge funds and other institutional investors.

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.