Synovus Financial Corp Lowers Position in Sapiens International Co. (NASDAQ:SPNS)

Synovus Financial Corp lowered its stake in shares of Sapiens International Co. (NASDAQ:SPNS) by 2.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,253 shares of the technology company’s stock after selling 1,258 shares during the period. Synovus Financial Corp owned approximately 0.11% of Sapiens International worth $2,246,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. National Bank of Canada FI acquired a new stake in shares of Sapiens International during the 3rd quarter worth $26,000. Summit Securities Group LLC acquired a new stake in Sapiens International during the second quarter worth about $34,000. Financial Management Professionals Inc. increased its stake 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 during the last quarter. Morgan Dempsey Capital Management LLC raised its holdings in shares of Sapiens International by 9.5% in the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 4,206 shares of the technology company’s stock worth $143,000 after purchasing an additional 365 shares during the period. Finally, MQS Management LLC acquired a new position in shares of Sapiens International in the 3rd quarter valued at about $230,000. Institutional investors and hedge funds own 30.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SPNS. StockNews.com downgraded shares of Sapiens International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 19th. Needham & Company LLC dropped 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 on the stock in a report on Tuesday, November 12th. Finally, William Blair reiterated a “market perform” rating on shares of Sapiens International in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $36.00.

Sapiens International Trading Up 0.2 %

NASDAQ SPNS opened at $28.48 on Monday. The stock has a market cap of $1.59 billion, a P/E ratio of 22.43 and a beta of 1.15. The company’s fifty day simple moving average is $32.47 and its 200-day simple moving average is $34.56. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.04. Sapiens International Co. has a 52 week low of $26.34 and a 52 week high of $41.22.

Sapiens International (NASDAQ:SPNS) last issued its quarterly earnings data on Monday, November 11th. The technology company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The firm had revenue of $137.00 million during the quarter, compared to analyst estimates of $140.10 million. Sapiens International had a return on equity of 17.61% and a net margin of 13.23%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 EPS. Equities research analysts predict that Sapiens International Co. will post 1.42 EPS for the current fiscal year.

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.