Needham & Company LLC Reiterates “Buy” Rating for Sapiens International (NASDAQ:SPNS)

Sapiens International (NASDAQ:SPNS)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $38.00 target price on the technology company’s stock. Needham & Company LLC’s price target indicates a potential upside of 11.24% from the stock’s current price.

SPNS has been the topic of a number of other reports. Barclays increased their price target on shares of Sapiens International from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Wednesday, February 21st. The Goldman Sachs Group boosted their price target on shares of Sapiens International from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.33.

Sapiens International Price Performance

SPNS opened at $34.16 on Wednesday. The firm has a 50-day moving average price of $31.07 and a 200-day moving average price of $28.62. Sapiens International has a twelve month low of $22.70 and a twelve month high of $35.33. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 30.50 and a beta of 1.17.

Sapiens International (NASDAQ:SPNS) last posted its earnings results on Tuesday, February 20th. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. Sapiens International had a return on equity of 16.92% and a net margin of 12.14%. The firm had revenue of $130.86 million for the quarter, compared to the consensus estimate of $130.85 million. During the same quarter in the prior year, the business posted $0.31 earnings per share. The business’s quarterly revenue was up 9.5% on a year-over-year basis. Equities analysts expect that Sapiens International will post 1.37 EPS for the current year.

Institutional Trading of Sapiens International

Several institutional investors and hedge funds have recently made changes to their positions in SPNS. Meeder Asset Management Inc. purchased a new stake in Sapiens International during the fourth quarter valued at about $25,000. Financial Management Professionals Inc. bought a new stake in Sapiens International in the 1st quarter worth approximately $40,000. Psagot Value Holdings Ltd. Israel bought a new stake in Sapiens International in the 4th quarter worth approximately $41,000. SG Americas Securities LLC bought a new stake in Sapiens International in the 3rd quarter worth approximately $133,000. Finally, Foyston Gordon & Payne Inc bought a new stake in Sapiens International in the 1st quarter worth approximately $217,000. Hedge funds and other 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.