Sapiens International (NASDAQ:SPNS) Trading 15.6% Higher

Sapiens International Co. (NASDAQ:SPNSGet Rating)’s share price traded up 15.6% during mid-day trading on Friday . The stock traded as high as $24.96 and last traded at $24.20. 9,013 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 250,166 shares. The stock had previously closed at $20.94.

SPNS has been the subject of several research reports. William Blair reaffirmed a “market perform” rating on shares of Sapiens International in a research report on Tuesday, May 3rd. StockNews.com upgraded shares of Sapiens International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 18th. Needham & Company LLC reduced their price objective on shares of Sapiens International from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, February 24th. Finally, Citigroup reduced their price objective on shares of Sapiens International from $38.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, February 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $33.67.

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 26.32 and a beta of 1.36. The stock’s 50 day simple moving average is $24.18 and its 200-day simple moving average is $28.31.

Sapiens International (NASDAQ:SPNSGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The technology company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. The firm had revenue of $117.70 million for the quarter, compared to analyst estimates of $117.21 million. Sapiens International had a net margin of 10.93% and a return on equity of 16.14%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 earnings per share. On average, analysts expect that Sapiens International Co. will post 1.17 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 25th. Stockholders of record on Tuesday, May 17th were paid a $0.352 dividend. The ex-dividend date of this dividend was Monday, May 16th. This represents a $1.41 dividend on an annualized basis and a dividend yield of 5.79%. Sapiens International’s payout ratio is currently 151.61%.

A number of hedge funds and other institutional investors have recently made changes to their positions in SPNS. Bank of America Corp DE raised its position in shares of Sapiens International by 38.3% in the first quarter. Bank of America Corp DE now owns 131,728 shares of the technology company’s stock valued at $3,345,000 after buying an additional 36,457 shares during the last quarter. Jane Street Group LLC raised its position in shares of Sapiens International by 240.1% in the first quarter. Jane Street Group LLC now owns 68,787 shares of the technology company’s stock valued at $1,747,000 after buying an additional 48,564 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Sapiens International by 9.7% in the first quarter. Goldman Sachs Group Inc. now owns 176,652 shares of the technology company’s stock valued at $4,485,000 after buying an additional 15,638 shares during the last quarter. State Street Corp raised its position in shares of Sapiens International by 6.8% in the first quarter. State Street Corp now owns 467,566 shares of the technology company’s stock valued at $11,872,000 after buying an additional 29,637 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in shares of Sapiens International in the first quarter valued at about $381,000. 30.28% of the stock is currently owned by hedge funds and other institutional investors.

About Sapiens International (NASDAQ:SPNS)

Sapiens International Corporation N.V. provides software solutions for the insurance and financial services industries in North America, the European Union, the United Kingdom, Israel, and internationally. The company offers Sapiens CoreSuite and Sapiens IDITSuite for personal, commercial, and specialty lines; and Sapiens CoreSuite, Sapiens UnderwritingPro, Sapiens ApplicationPro, Sapiens IllustrationPro, and Sapiens ConsolidationMaster for life, pension, and annuities.

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