Sapiens International (SPNS) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Sapiens International (NASDAQ:SPNS) from a hold rating to a buy rating in a research note published on Saturday morning, Zacks.com reports. The brokerage currently has $17.00 price objective on the technology company’s stock.

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. “

A number of other analysts have also recently issued reports on the company. BidaskClub cut Sapiens International from a strong-buy rating to a buy rating in a research report on Monday, April 22nd. Barclays reissued a hold rating and issued a $14.50 target price on shares of Sapiens International in a research report on Wednesday, February 27th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $15.17.

NASDAQ:SPNS opened at $14.68 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.60 and a debt-to-equity ratio of 0.42. Sapiens International has a 1 year low of $8.77 and a 1 year high of $16.10.

Sapiens International (NASDAQ:SPNS) last announced its earnings results on Monday, May 6th. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The firm had revenue of $76.79 million during the quarter, compared to analysts’ expectations of $75.69 million. Sapiens International had a return on equity of 14.01% and a net margin of 5.45%. The business’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 EPS. As a group, equities research analysts expect that Sapiens International will post 0.65 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN acquired a new stake in shares of Sapiens International in the 1st quarter valued at about $30,000. State of Tennessee Treasury Department purchased a new stake in Sapiens International during the 1st quarter valued at approximately $36,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Sapiens International by 64.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,012 shares of the technology company’s stock valued at $44,000 after acquiring an additional 1,574 shares during the last quarter. BlackRock Inc. purchased a new stake in Sapiens International during the 4th quarter valued at approximately $52,000. Finally, 1492 Capital Management LLC purchased a new stake in Sapiens International during the 4th quarter valued at approximately $159,000. 0.03% of the stock is owned by hedge funds and other institutional investors.

About Sapiens International

Sapiens International Corporation N.V. provides software solutions for the insurance and financial services industries in North America, Europe, the Asia Pacific, and South Africa. The company offers software platform and solutions for personal, commercial, and specialty lines, as well as reinsurance and workers' compensation, including Sapiens CoreSuite and Sapiens IDITSuite; and life, pension, and annuities, such as Sapiens CoreSuite, Sapiens UnderwritingPro, Sapiens ApplicationPro, Sapiens IllustrationPro, and Sapiens ConsolidationMaster.

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