Needham & Company LLC Lowers Sapiens International (NASDAQ:SPNS) Price Target to $35.00

Sapiens International (NASDAQ:SPNS - Get Free Report) had its price target reduced by investment analysts at Needham & Company LLC from $44.00 to $35.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. Needham & Company LLC's price target would indicate a potential upside of 24.51% from the company's previous close.

SPNS has been the subject of several other reports. The Goldman Sachs Group increased their price objective on Sapiens International from $38.00 to $43.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. StockNews.com upgraded shares of Sapiens International from a "buy" rating to a "strong-buy" rating in a research report on Monday. Finally, Barclays upped their target price on shares of Sapiens International from $30.00 to $38.00 and gave the stock an "underweight" rating in a report on Friday, August 2nd.

Sapiens International Stock Performance

NASDAQ SPNS traded down $0.99 on Tuesday, hitting $28.11. 446,596 shares of the stock traded hands, compared to its average volume of 128,626. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.16 and a current ratio of 2.16. Sapiens International has a 12 month low of $24.91 and a 12 month high of $41.22. The business's fifty day moving average is $36.34 and its two-hundred day moving average is $35.45. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 23.99 and a beta of 1.25.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Zions Bancorporation N.A. increased its stake in Sapiens International by 16.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 58,002 shares of the technology company's stock worth $2,162,000 after purchasing an additional 8,404 shares in the last quarter. MQS Management LLC purchased a new stake in Sapiens International during the 3rd quarter worth approximately $230,000. Aptus Capital Advisors LLC raised its holdings in Sapiens International by 15.6% in the 3rd quarter. Aptus Capital Advisors LLC now owns 160,540 shares of the technology company's stock valued at $5,983,000 after acquiring an additional 21,696 shares during the last quarter. Financial Management Professionals Inc. grew its stake in shares of Sapiens International by 57.9% during the 3rd quarter. Financial Management Professionals Inc. now owns 1,945 shares of the technology company's stock valued at $72,000 after buying an additional 713 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Sapiens International by 12.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 112,020 shares of the technology company's stock valued at $4,162,000 after buying an additional 12,031 shares during the last quarter. 30.73% 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 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.