Zacks Investment Research Lowers Sapiens International (SPNS) to Sell
Sapiens International (NASDAQ:SPNS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday.
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. “
SPNS has been the topic of several other research reports. Cowen reissued a “buy” rating and set a $14.00 price target on shares of Sapiens International in a research report on Thursday, October 12th. BidaskClub raised shares of Sapiens International from a “strong sell” rating to a “sell” rating in a research report on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $15.00.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Sapiens International in the second quarter valued at about $12,985,000. Sphera Funds Management LTD. lifted its position in Sapiens International by 140.9% in the third quarter. Sphera Funds Management LTD. now owns 354,866 shares of the technology company’s stock valued at $4,650,000 after buying an additional 207,560 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its position in Sapiens International by 1.2% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 341,873 shares of the technology company’s stock valued at $4,513,000 after buying an additional 3,996 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Sapiens International by 93.2% during the second quarter. Goldman Sachs Group Inc. now owns 320,428 shares of the technology company’s stock worth $3,586,000 after purchasing an additional 154,555 shares in the last quarter. Finally, Citigroup Inc. lifted its position in shares of Sapiens International by 345.1% during the second quarter. Citigroup Inc. now owns 40,037 shares of the technology company’s stock worth $448,000 after purchasing an additional 31,041 shares in the last quarter. 9.17% of the stock is currently owned by institutional investors.
Sapiens International Company Profile
Sapiens International Corporation N.V. (Sapiens) is a provider of software solutions for the insurance industry, with a focus on the financial services sector. The Company operates in provider of software solutions segment. Its software solutions portfolio consists of Life, Pension, Annuity and Retirement Solutions, including software solutions for the management of a range of products for life, pension, annuity and retirement; Property and Casualty/General Insurance Solutions, including a software suite of solutions, supporting a range of business lines, including personal, commercial and specialty lines, as well as a solution for the management of reinsurance contracts; Sapiens DECISION, which is a business decision management solution, and Technology-Based Solutions, such as Sapiens eMerge.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sapiens International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sapiens International and related companies with MarketBeat.com's FREE daily email newsletter.