Sapiens International (NASDAQ:SPNS) Shares Gap Down on Disappointing Earnings

Posted by MarketBeat News on Aug 5th, 2022

Shares of Sapiens International Co. (NASDAQ:SPNS – Get Rating) gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $24.56, but opened at $23.16. Sapiens International shares last traded at $22.82, with a volume of 839 shares traded.

The technology company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The firm had revenue of $118.58 million during the quarter, compared to analyst estimates of $123.25 million. Sapiens International had a net margin of 10.93% and a return on equity of 16.14%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the business posted $0.27 EPS.

Sapiens International Dividend Announcement

The business also recently announced a Semi-Annual dividend, which will be paid on Tuesday, August 30th. Investors of record on Wednesday, August 17th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, August 16th. This represents a dividend yield of 3.2%. Sapiens International’s payout ratio is 151.61%.

Analyst Ratings Changes

SPNS has been the topic of several analyst reports. StockNews.com cut Sapiens International from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 21st. William Blair reissued a “market perform” rating on shares of Sapiens International in a research report on Tuesday, May 3rd. Finally, Needham & Company LLC decreased their target price on Sapiens International from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $31.67.

Institutional Investors Weigh In On Sapiens International

A number of hedge funds have recently made changes to their positions in the business. Royce & Associates LP bought a new stake in shares of Sapiens International during the 2nd quarter worth $1,839,000. Aviva PLC purchased a new stake in Sapiens International in the 2nd quarter worth about $678,000. Meitav Dash Investments Ltd. increased its holdings in Sapiens International by 1.4% in the 2nd quarter. Meitav Dash Investments Ltd. now owns 211,413 shares of the technology company’s stock worth $5,114,000 after acquiring an additional 3,000 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Sapiens International in the 2nd quarter worth about $102,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Sapiens International by 7.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,531 shares of the technology company’s stock worth $3,448,000 after acquiring an additional 10,095 shares during the last quarter. 30.28% of the stock is currently owned by institutional investors.

Sapiens International Trading Down 2.3 %

The firm has a fifty day moving average of $24.36 and a two-hundred day moving average of $25.86. The company has a market cap of $1.22 billion, a PE ratio of 23.86 and a beta of 1.29. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.14.

About Sapiens International

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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.