Sapiens International Co. (NASDAQ:SPNS) Sees Significant Drop in Short Interest

Sapiens International Co. (NASDAQ:SPNS) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 68,100 shares, a drop of 37.4% from the July 31st total of 108,800 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 113,900 shares, the short-interest ratio is currently 0.6 days.

A number of research firms have weighed in on SPNS. BidaskClub downgraded Sapiens International from a “strong-buy” rating to a “buy” rating in a research report on Friday. Roth Capital upped their price objective on Sapiens International from $5.00 to $8.75 in a research note on Monday, August 5th. Barclays restated a “hold” rating on shares of Sapiens International in a research note on Wednesday, August 7th. Finally, Zacks Investment Research upgraded Sapiens International from a “hold” rating to a “strong-buy” rating and set a $20.00 price objective for the company in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Sapiens International presently has an average rating of “Buy” and an average target price of $14.42.

Large investors have recently bought and sold shares of the business. ClariVest Asset Management LLC increased its stake in Sapiens International by 98.5% during the 2nd quarter. ClariVest Asset Management LLC now owns 97,676 shares of the technology company’s stock worth $1,624,000 after buying an additional 48,476 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in shares of Sapiens International during the 2nd quarter worth about $263,000. Invesco Ltd. acquired a new stake in shares of Sapiens International during the 2nd quarter worth about $16,137,000. AMP Capital Investors Ltd acquired a new stake in shares of Sapiens International during the 2nd quarter worth about $259,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Sapiens International by 14.0% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,174,341 shares of the technology company’s stock worth $19,518,000 after purchasing an additional 144,100 shares during the last quarter.

Sapiens International stock traded down $0.28 during mid-day trading on Friday, hitting $17.17. The stock had a trading volume of 3,813 shares. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.49. The firm’s 50 day moving average is $17.75 and its 200 day moving average is $15.96. Sapiens International has a one year low of $10.11 and a one year high of $19.59.

Sapiens International (NASDAQ:SPNS) last released its earnings results on Monday, August 5th. The technology company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $79.53 million during the quarter, compared to analysts’ expectations of $78.62 million. Sapiens International had a net margin of 6.91% and a return on equity of 15.34%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.13 earnings per share. On average, sell-side analysts anticipate that Sapiens International will post 0.71 earnings per share for the current fiscal year.

The company also recently announced a dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a $0.22 dividend. This is a positive change from Sapiens International’s previous dividend of $0.20. The ex-dividend date of this dividend was Monday, August 19th.

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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