Trading Report: Today, Sapiens International Corp. (SPNS) Given New $16.00 Price Target at Needham & Company LLC

Today, Sapiens International Corp. (SPNS) Given New $16.00 Price Target at Needham & Company LLC

Sapiens International Corp. (NASDAQ:SPNS) had its price target lifted by stock analysts at Needham & Company LLC from $15.00 to $16.00 in a research report issued on Tuesday. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 7.24% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Zacks Investment Research raised Sapiens International Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, August 18th. Credit Suisse Group AG assumed coverage on Sapiens International Corp. in a research report on Wednesday, October 19th. They set an “outperform” rating for the company. Finally, Barclays PLC increased their price target on Sapiens International Corp. from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, August 5th. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $13.75.

Sapiens International Corp. (NASDAQ:SPNS) traded up 0.13% during mid-day trading on Tuesday, hitting $14.92. 39,848 shares of the stock were exchanged. The company has a market cap of $731.09 million, a P/E ratio of 34.14 and a beta of 0.60. Sapiens International Corp. has a one year low of $8.93 and a one year high of $15.05. The company has a 50-day moving average price of $13.76 and a 200-day moving average price of $12.93.

Sapiens International Corp. (NASDAQ:SPNS) last posted its quarterly earnings data on Monday, November 7th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.12. Sapiens International Corp. had a return on equity of 12.29% and a net margin of 10.30%. The business earned $565 million during the quarter, compared to the consensus estimate of $55.16 million. During the same period last year, the company earned $0.12 earnings per share. Sapiens International Corp.’s quarterly revenue was up 20.1% on a year-over-year basis. On average, analysts predict that Sapiens International Corp. will post $0.49 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of SPNS. Bank of New York Mellon Corp boosted its position in shares of Sapiens International Corp. by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 50,155 shares of the company’s stock valued at $587,000 after buying an additional 370 shares during the period. Acadian Asset Management LLC boosted its position in shares of Sapiens International Corp. by 0.3% in the second quarter. Acadian Asset Management LLC now owns 125,206 shares of the company’s stock valued at $1,466,000 after buying an additional 428 shares during the period. Rhumbline Advisers boosted its position in shares of Sapiens International Corp. by 2.0% in the third quarter. Rhumbline Advisers now owns 23,720 shares of the company’s stock valued at $303,000 after buying an additional 460 shares during the period. California State Teachers Retirement System boosted its position in shares of Sapiens International Corp. by 1.0% in the third quarter. California State Teachers Retirement System now owns 51,426 shares of the company’s stock valued at $657,000 after buying an additional 500 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Sapiens International Corp. by 0.4% in the third quarter. Northern Trust Corp now owns 275,133 shares of the company’s stock valued at $3,513,000 after buying an additional 1,143 shares during the period. 12.59% of the stock is owned by hedge funds and other institutional investors.

Sapiens International Corp. Company Profile

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