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Sapiens International (SPNS) Aids Insurers With New Launches
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Sapiens International (SPNS - Free Report) is keeping no stone unturned to expand its footprint among insurers.
The latest versions of Sapiens IllustrationPro and Sapiens ApplicationPro will provide insurers with innovation, greater member service, and improved safety features, ensuring smooth exchange of data and reduced chances of errors.
Sapiens IllustrationPro is an innovative sales platform for Life & Annuities that generates quotations and conforming graphics rapidly and precisely. It works on several devices, which accelerates the sales process.
Sapiens ApplicationPro facilitates data input for experienced and inexperienced agents with wizard-based, self-directed navigation, aiming to improve user experiences.
Sapiens International Corporation N.V. Price and Consensus
Sapiens included Multi-Factor Authentication in the latest login processes like text messaging, email, and application authentication, thereby strengthening security. It also added features like status updates and other vital data alerts.
Sapiens International’s Growth Prospects Bright
In the past year, Sapiens’ shares are up 38.8% year to date compared with the Zacks Computer and Technology Sector’s rise of 37.1%.
Sapiens benefited from an expanding international clientele and strong partner base. It continues to remain a trustworthy partner to military and other government organizations. The company’s strong portfolio is helping it win market share in the Insurtech domain.
Recently, Sapiens collaborated with Microsoft to integrate the Azure OpenAI Service, which will allow it to provide generative AI solutions to insurance businesses. This will improve the customer experience by providing immediate answers in a variety of languages across several domains of consumer engagement.
Sapiens' diverse portfolio is helping it gain customers in the Americas, Europe and Africa. Sapiens expanded its network in North America by partnering with CGI, ForMotiv, Hi Marley, ODG by MCG and Opterrix.
Earlier in 2023, Sapiens made considerable investments in the DACH (Germany, Austria and Switzerland) region, with a focus on increasing its Property and Casualty (P&C) and digital product offerings and boosting its sales and support workforce. It also intends to expand beyond P&C, digital and Reinsurance solutions in the future to include life and annuities.
Recently, Sapiens partnered with South Africa's Hollard Group Risk, a branch of Hollard Life Insurance Company Limited, to develop its cloud-first Life core platform CoreSuite for Life & Pensions.
Outlook Strong
The company reported revenues of $130.8 million in third-quarter 2023, up 9.9% year over year. Higher revenues from software products and re-occurring post-production and pre-production implementation services aided growth. Software products and re-occurring post-production services were $87.4 million, up 16.5% year over year.
The trend is expected to continue in the current quarter, thereby benefiting the top line and earnings.
For the fourth quarter of 2023, the Zacks Consensus Estimate for Sapiens’ revenue is pegged at $130.4 million, indicating an increase of 9.2% year over year.
The consensus mark for fourth-quarter 2023 earnings is pegged at 34 cents per share, indicating growth of 6.2% from the year-ago quarter.
For the fiscal 2023, Sapiens expects revenues between $511 million and $516 million. The projection indicates 7.6% to 8.7% year-over-year growth. The Zacks Consensus Estimates for the same is pegged at $514.2 million, indicating a 6.55% year-over-year rise.
The consensus estimates for fiscal 2024 earnings is pegged at $1.33 per share, indicating growth of 9.9% year over year.
Image: Bigstock
Sapiens International (SPNS) Aids Insurers With New Launches
Sapiens International (SPNS - Free Report) is keeping no stone unturned to expand its footprint among insurers.
The latest versions of Sapiens IllustrationPro and Sapiens ApplicationPro will provide insurers with innovation, greater member service, and improved safety features, ensuring smooth exchange of data and reduced chances of errors.
Sapiens IllustrationPro is an innovative sales platform for Life & Annuities that generates quotations and conforming graphics rapidly and precisely. It works on several devices, which accelerates the sales process.
Sapiens ApplicationPro facilitates data input for experienced and inexperienced agents with wizard-based, self-directed navigation, aiming to improve user experiences.
Sapiens International Corporation N.V. Price and Consensus
Sapiens International Corporation N.V. price-consensus-chart | Sapiens International Corporation N.V. Quote
Sapiens included Multi-Factor Authentication in the latest login processes like text messaging, email, and application authentication, thereby strengthening security. It also added features like status updates and other vital data alerts.
Sapiens International’s Growth Prospects Bright
In the past year, Sapiens’ shares are up 38.8% year to date compared with the Zacks Computer and Technology Sector’s rise of 37.1%.
Sapiens benefited from an expanding international clientele and strong partner base. It continues to remain a trustworthy partner to military and other government organizations. The company’s strong portfolio is helping it win market share in the Insurtech domain.
Recently, Sapiens collaborated with Microsoft to integrate the Azure OpenAI Service, which will allow it to provide generative AI solutions to insurance businesses. This will improve the customer experience by providing immediate answers in a variety of languages across several domains of consumer engagement.
Sapiens' diverse portfolio is helping it gain customers in the Americas, Europe and Africa. Sapiens expanded its network in North America by partnering with CGI, ForMotiv, Hi Marley, ODG by MCG and Opterrix.
Earlier in 2023, Sapiens made considerable investments in the DACH (Germany, Austria and Switzerland) region, with a focus on increasing its Property and Casualty (P&C) and digital product offerings and boosting its sales and support workforce. It also intends to expand beyond P&C, digital and Reinsurance solutions in the future to include life and annuities.
Recently, Sapiens partnered with South Africa's Hollard Group Risk, a branch of Hollard Life Insurance Company Limited, to develop its cloud-first Life core platform CoreSuite for Life & Pensions.
Outlook Strong
The company reported revenues of $130.8 million in third-quarter 2023, up 9.9% year over year. Higher revenues from software products and re-occurring post-production and pre-production implementation services aided growth. Software products and re-occurring post-production services were $87.4 million, up 16.5% year over year.
The trend is expected to continue in the current quarter, thereby benefiting the top line and earnings.
For the fourth quarter of 2023, the Zacks Consensus Estimate for Sapiens’ revenue is pegged at $130.4 million, indicating an increase of 9.2% year over year.
The consensus mark for fourth-quarter 2023 earnings is pegged at 34 cents per share, indicating growth of 6.2% from the year-ago quarter.
For the fiscal 2023, Sapiens expects revenues between $511 million and $516 million. The projection indicates 7.6% to 8.7% year-over-year growth. The Zacks Consensus Estimates for the same is pegged at $514.2 million, indicating a 6.55% year-over-year rise.
The consensus estimates for fiscal 2024 earnings is pegged at $1.33 per share, indicating growth of 9.9% year over year.
Zacks Rank & Stocks to Consider
Sapiens currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Flex (FLEX - Free Report) , Badger Meter (BMI - Free Report) and NVIDIA (NVDA - Free Report) . While Flex and Badger Meter sport a Zacks Rank #1 (Strong Buy), Nvidia carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Flex’s shares have gained 17.7% year to date. Flex’s long-term earnings growth rate is currently projected at 12.4%.
Badger Meter’s shares have gained 37.8% in the year-to-date period. Badger Meter’s long-term earnings growth rate is currently projected at 35.8%.
NVIDIA’s shares have gained 210.6% in the year-to-date period. NVIDIA's long-term earnings growth rate is currently projected at 13.5%.