Sapiens International (NASDAQ:SPNS) Given New $30.00 Price Target at Barclays

Sapiens International (NASDAQ:SPNS) had its price objective lowered by research analysts at Barclays from $38.00 to $30.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the technology company’s stock. Barclays‘s target price points to a potential upside of 2.28% from the company’s previous close.

A number of other equities research analysts have also commented on the company. StockNews.com raised Sapiens International from a “buy” rating to a “strong-buy” rating in a research report on Monday. Needham & Company LLC dropped their target price on shares of Sapiens International from $44.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, The Goldman Sachs Group upped their price target on shares of Sapiens International from $38.00 to $43.00 and gave the company a “buy” rating in a report on Friday, August 2nd.

Sapiens International Trading Up 0.8 %

NASDAQ SPNS traded up $0.23 during trading on Tuesday, reaching $29.33. 105,847 shares of the stock traded hands, compared to its average volume of 127,071. The stock’s 50-day moving average price is $36.34 and its 200 day moving average price is $35.45. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 23.99 and a beta of 1.25. Sapiens International has a fifty-two week low of $24.91 and a fifty-two week high of $41.22.

Institutional Trading of Sapiens International

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Summit Securities Group LLC acquired a new stake in Sapiens International in the 2nd quarter valued at $34,000. Financial Management Professionals Inc. raised its position in Sapiens International by 57.9% during the third quarter. Financial Management Professionals Inc. now owns 1,945 shares of the technology company’s stock worth $72,000 after acquiring an additional 713 shares in the last quarter. Morgan Dempsey Capital Management LLC lifted its stake in Sapiens International by 9.5% in the second quarter. Morgan Dempsey Capital Management LLC now owns 4,206 shares of the technology company’s stock valued at $143,000 after acquiring an additional 365 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of Sapiens International in the 1st quarter valued at about $192,000. Finally, MQS Management LLC acquired a new position in shares of Sapiens International during the 3rd quarter worth about $230,000. 30.73% of the stock is currently owned by institutional investors and hedge funds.

About Sapiens International

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.