Sapiens International (NASDAQ:SPNS) Shares Gap Down - Here's What Happened

Sapiens International Co. (NASDAQ:SPNS - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $27.36, but opened at $25.47. Sapiens International shares last traded at $26.09, with a volume of 71,257 shares traded.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. StockNews.com lowered Sapiens International from a "strong-buy" rating to a "buy" rating in a report on Tuesday, November 19th. Needham & Company LLC cut their price objective on shares of Sapiens International from $44.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, November 12th. Barclays reduced their target price on shares of Sapiens International from $38.00 to $30.00 and set an "underweight" rating for the company in a research note on Tuesday, November 12th. William Blair reiterated a "market perform" rating on shares of Sapiens International in a research note on Friday, December 6th. Finally, Jefferies Financial Group downgraded shares of Sapiens International from a "buy" rating to a "hold" rating and reduced their price objective for the company from $36.00 to $28.00 in a research report on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Sapiens International has an average rating of "Hold" and a consensus price target of $34.00.

Sapiens International Stock Up 1.5 %

The firm's 50-day simple moving average is $26.97 and its 200 day simple moving average is $32.37. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.18 and a current ratio of 2.18. The company has a market capitalization of $1.53 billion, a PE ratio of 21.62 and a beta of 1.16.

Sapiens International (NASDAQ:SPNS - Get Free Report) last issued its earnings results on Monday, November 11th. The technology company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). Sapiens International had a return on equity of 17.61% and a net margin of 13.23%. The company had revenue of $137.00 million for the quarter, compared to analyst estimates of $140.10 million. The company's quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 earnings per share. As a group, equities research analysts forecast that Sapiens International Co. will post 1.42 earnings per share for the current year.

Hedge Funds Weigh In On Sapiens International

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lord Abbett & CO. LLC increased its position in shares of Sapiens International by 451.9% in the third quarter. Lord Abbett & CO. LLC now owns 1,131,426 shares of the technology company's stock valued at $42,168,000 after buying an additional 926,405 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Sapiens International by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 603,429 shares of the technology company's stock valued at $22,490,000 after acquiring an additional 1,679 shares in the last quarter. Wellington Management Group LLP raised its position in Sapiens International by 14.6% during the third quarter. Wellington Management Group LLP now owns 594,552 shares of the technology company's stock worth $22,159,000 after acquiring an additional 75,866 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of Sapiens International by 13.9% in the fourth quarter. Y.D. More Investments Ltd now owns 234,297 shares of the technology company's stock valued at $6,338,000 after purchasing an additional 28,512 shares in the last quarter. Finally, Seizert Capital Partners LLC grew its position in shares of Sapiens International by 47.8% in the fourth quarter. Seizert Capital Partners LLC now owns 189,365 shares of the technology company's stock valued at $5,088,000 after purchasing an additional 61,200 shares during the last quarter. 30.73% of the stock is 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.