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Sapiens (SPNS) Expanding Partner Base Strengthens Prospect
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Sapiens International (SPNS - Free Report) is benefiting from an expanding international clientele and strong partner base.
Sapien’s initiatives to expand its footprint in the global insurance technology domain are noteworthy.
SPNS expanded its operations across 22 countries, including key regions like North America, Europe (EMEA), South Africa and the Asia-Pacific (APAC) region.
In the European market, particularly in the Nordics, Sapiens demonstrated impressive growth in third-quarter 2023, boasting a significant 13.8% year-over-year increase in revenue.
Sapiens International Corporation N.V. Price and Consensus
The upside is further emphasized by Sapiens' recent collaboration with Gjensidige Pensjonsforsikring (GPF), expanding its network in the Nordic insurance landscape.
Through this partnership, GPF successfully implemented Sapiens CoreSuite for Life & Pensions and Sapiens Cloud Services for individual savings, becoming the first insurer in the region to leverage the innovative capabilities of CoreSuite.
The implementation of CoreSuite is poised to enhance GPF's digital capabilities, fostering increased automation and operational efficiency.
With a focus on individual savings, GPF's adoption of CoreSuite aims to provide real-time access to centrally managed data, ensuring a streamlined workflow, accelerated digital transformation and improved customer engagement through a streamlined, cloud-based IT infrastructure.
Sapiens Riding on Portfolio Strength & Expanding Partner Base
The latest move by Sapiens, with the successful implementation of CoreSuite for Life & Pensions at GPF, is in sync with the company’s consistent ability to attract new customers through the robust strength of its software solutions portfolio in the insurance sector.
Continuing to fortify its position in the insurance industry, Sapiens recently introduced enhanced versions of Sapiens IllustrationPro and Sapiens ApplicationPro, offering innovative features, improved usability and reinforced security measures for a seamless customer and agent experience.
Sapiens is also making strides in the realm of artificial intelligence, with the successful implementation of its AI-powered IDITSuite for a prominent European automotive brand. This development revolutionized self-guarantee and warranty insurance operations, boasting a remarkable 75% acceleration in speed to market.
Sapiens is benefiting from an expanding partner base that now includes Microsoft (MSFT - Free Report) .
In October, Sapiens joined forces with Microsoft to incorporate Azure OpenAI Service, introducing Sapiens Decision Model AI to transform business decision model creation, significantly reducing time by over 30% and paving the way for future innovations such as Decision Integrate AI for effortless machine learning model integration.
Sapiens Guidance Strong in 2023
Sapiens’ strong portfolio and expanding partner base are expected to boost its top-line growth.
For 2023, Sapiens expects revenues between $511 million and $516 million, indicating year-over-year growth of 8.1%.
The Zacks Consensus Estimate for 2023 and 2024 revenues are pegged at $514.43 million and $549.19 million, indicating year-over-year growth of 8.36% and 6.76%, respectively.
The consensus estimate for 2023 earnings is pegged at $1.33 per share, indicating a rise of 9.92% year over year.
Zacks Rank & Other Stocks to Consider
Currently, Sapiens carries a Zacks Rank #2 (Buy).
Sapiens’s shares have returned 4.9% in the past six months compared with the Zacks Computer & Technology sector’s rally of 8.7%.
Image: Bigstock
Sapiens (SPNS) Expanding Partner Base Strengthens Prospect
Sapiens International (SPNS - Free Report) is benefiting from an expanding international clientele and strong partner base.
Sapien’s initiatives to expand its footprint in the global insurance technology domain are noteworthy.
SPNS expanded its operations across 22 countries, including key regions like North America, Europe (EMEA), South Africa and the Asia-Pacific (APAC) region.
In the European market, particularly in the Nordics, Sapiens demonstrated impressive growth in third-quarter 2023, boasting a significant 13.8% year-over-year increase in revenue.
Sapiens International Corporation N.V. Price and Consensus
Sapiens International Corporation N.V. price-consensus-chart | Sapiens International Corporation N.V. Quote
The upside is further emphasized by Sapiens' recent collaboration with Gjensidige Pensjonsforsikring (GPF), expanding its network in the Nordic insurance landscape.
Through this partnership, GPF successfully implemented Sapiens CoreSuite for Life & Pensions and Sapiens Cloud Services for individual savings, becoming the first insurer in the region to leverage the innovative capabilities of CoreSuite.
The implementation of CoreSuite is poised to enhance GPF's digital capabilities, fostering increased automation and operational efficiency.
With a focus on individual savings, GPF's adoption of CoreSuite aims to provide real-time access to centrally managed data, ensuring a streamlined workflow, accelerated digital transformation and improved customer engagement through a streamlined, cloud-based IT infrastructure.
Sapiens Riding on Portfolio Strength & Expanding Partner Base
The latest move by Sapiens, with the successful implementation of CoreSuite for Life & Pensions at GPF, is in sync with the company’s consistent ability to attract new customers through the robust strength of its software solutions portfolio in the insurance sector.
Continuing to fortify its position in the insurance industry, Sapiens recently introduced enhanced versions of Sapiens IllustrationPro and Sapiens ApplicationPro, offering innovative features, improved usability and reinforced security measures for a seamless customer and agent experience.
Sapiens is also making strides in the realm of artificial intelligence, with the successful implementation of its AI-powered IDITSuite for a prominent European automotive brand. This development revolutionized self-guarantee and warranty insurance operations, boasting a remarkable 75% acceleration in speed to market.
Sapiens is benefiting from an expanding partner base that now includes Microsoft (MSFT - Free Report) .
In October, Sapiens joined forces with Microsoft to incorporate Azure OpenAI Service, introducing Sapiens Decision Model AI to transform business decision model creation, significantly reducing time by over 30% and paving the way for future innovations such as Decision Integrate AI for effortless machine learning model integration.
Sapiens Guidance Strong in 2023
Sapiens’ strong portfolio and expanding partner base are expected to boost its top-line growth.
For 2023, Sapiens expects revenues between $511 million and $516 million, indicating year-over-year growth of 8.1%.
The Zacks Consensus Estimate for 2023 and 2024 revenues are pegged at $514.43 million and $549.19 million, indicating year-over-year growth of 8.36% and 6.76%, respectively.
The consensus estimate for 2023 earnings is pegged at $1.33 per share, indicating a rise of 9.92% year over year.
Zacks Rank & Other Stocks to Consider
Currently, Sapiens carries a Zacks Rank #2 (Buy).
Sapiens’s shares have returned 4.9% in the past six months compared with the Zacks Computer & Technology sector’s rally of 8.7%.
Some other top-ranked stocks in the broader technology sector are BlackLine (BL - Free Report) and Camtek (CAMT - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
BL and CAMT shares have returned 106.2% and 4.6%, respectively, in the past six months.
Long-term earnings growth rates for BlackLine and Camtek are pegged at 50.56% and 12.26%, respectively.