Sapiens International (NASDAQ:SPNS) Shares Gap Down on Disappointing Earnings

Shares of Sapiens International Co. (NASDAQ:SPNS) gapped down prior to trading on Monday following a dissappointing earnings announcement. The stock had previously closed at $39.45, but opened at $29.80. Sapiens International shares last traded at $29.79, with a volume of 217,851 shares.

The technology company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $137.00 million for the quarter, compared to analyst estimates of $140.10 million. Sapiens International had a net margin of 13.23% and a return on equity of 17.81%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the company posted $0.32 earnings per share.

Sapiens International Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Thursday, September 12th. Investors of record on Wednesday, August 28th were paid a $0.29 dividend. The ex-dividend date was Wednesday, August 28th. This is a boost from Sapiens International’s previous Semi-Annual dividend of $0.28. This represents a dividend yield of 1.6%. Sapiens International’s dividend payout ratio (DPR) is currently 45.67%.

Analyst Ratings Changes

A number of research firms recently commented on SPNS. Needham & Company LLC reduced their price target on Sapiens International from $44.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday. The Goldman Sachs Group lifted their target price on Sapiens International from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Barclays dropped their price target on Sapiens International from $38.00 to $30.00 and set an “underweight” rating on the stock in a research note on Tuesday. Finally, StockNews.com raised shares of Sapiens International from a “buy” rating to a “strong-buy” rating in a research report on Monday.

Hedge Funds Weigh In On Sapiens International

A number of hedge funds have recently bought and sold shares of the business. 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 acquiring an additional 8,404 shares during the period. MQS Management LLC acquired a new stake in shares of Sapiens International during the 3rd quarter worth $230,000. Aptus Capital Advisors LLC increased its position in shares of Sapiens International by 15.6% in the third quarter. Aptus Capital Advisors LLC now owns 160,540 shares of the technology company’s stock worth $5,983,000 after purchasing an additional 21,696 shares during the period. Financial Management Professionals Inc. raised its stake in Sapiens International by 57.9% in the third quarter. Financial Management Professionals Inc. now owns 1,945 shares of the technology company’s stock valued at $72,000 after purchasing an additional 713 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Sapiens International by 12.0% in the third quarter. Assenagon Asset Management S.A. now owns 112,020 shares of the technology company’s stock valued at $4,162,000 after purchasing an additional 12,031 shares in the last quarter. 30.73% of the stock is owned by institutional investors.

Sapiens International Price Performance

The company’s 50-day moving average is $36.20 and its two-hundred day moving average is $35.43. The firm has a market cap of $1.57 billion, a P/E ratio of 22.13 and a beta of 1.25. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.16 and a quick ratio of 2.16.

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.