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Last $8.16 USD
Change Today -0.01 / -0.12%
Volume 31.4K
SPNS On Other Exchanges
Tel Aviv
As of 8:10 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

sapiens international corp (SPNS) Snapshot

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03/20/15 - $8.45
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01/30/15 - $6.30
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sapiens international corp (SPNS) Details

Sapiens International Corporation N.V. provides software solutions for the insurance industry in North America, the United Kingdom and rest of Europe, Israel, and the Asia Pacific. It offers software solutions for the property and casualty/general insurance (P&C) providers; and for life, annuities, and pensions (L&P) providers. Its products include Sapiens ALIS, a L&P software solution for individual and group insurance products; Sapiens Closed Books, a solution for life and pension insurance companies that enables them to administer policies and claims relating to closed books of business, where products are no longer open to new business; Sapiens TOPAZ that enable L&P carriers in Israel to handle a range of L&P activities and regulations that are unique to the Israeli market; Sapiens IDIT, a component based software solution, addressing the specific needs of general insurance carriers for traditional insurance, direct insurance, bancassurance, and brokers markets; and Sapiens Reinsurance, a software solution designed to enable general insurance/P&C insurance carriers and brokers to handle their P&C/general reinsurance activities on a single platform. The company also provides Sapiens DECISION, a business decision software solution that allows business professionals to design, simulate, implement, change, analyze, and visualize business logic that drives financial operations and compliance; and Sapiens eMerge, a rules-based model-driven architecture that enables the creation of enterprise applications with little or no coding using agile methodologies. In addition, it offers implementation and integration services; and support and maintenance for the software. The company markets and sells its products and services through direct sales force, and channel partners and system integrators. Sapiens International Corporation N.V. was founded in 1982 and is headquartered in Holon, Israel.

1,000 Employees
Last Reported Date: 02/25/15
Founded in 1982

sapiens international corp (SPNS) Top Compensated Officers

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sapiens international corp (SPNS) Key Developments

A Global Bank Expands its Use of Sapiens DECISION After Significantly Reducing Operational Expenses

Sapiens International Corporation announced that a global financial institution has entered into an agreement with Sapiens to expand its use of Sapiens DECISION, a market-leading, enterprise-scale decision management platform. Sapiens DECISION is enabling the institution to centrally author, store and manage all organizational business logic (requirements). By authoring rules for systems that execute millions of banking transactions on a daily basis, the bank is significantly reducing both time to market and operational expenses. After experiencing success with the initial implementation in the core banking systems, the bank will expand its use of DECISION across multiple lines of business to achieve greater efficiency and deliver new products to market faster. The platform has also helped improve organizational delivery and performance, by enabling the bank to easily identify areas impacted by rule changes and implement those changes across all affected systems quickly and consistently. Sapiens DECISION enables rapid development of business logic in an intuitive, consistent and reusable form that is readily understood by business users and technology teams. An integrated solution designed to leverage and augment existing technology, Sapiens DECISION drives consistency and reusability of strategically managed business rules, or decision logic. This ensures that the operational decisions that impact organizational performance are accurately and reliably adhered to - minimizing risk, rework and resource requirements.

Wesleyan Goes Live with Sapiens Closed Books Solution

Sapiens International Corporation announced that Wesleyan is now in production with Sapiens Closed Books solution, a unique offering for life and pension insurers designed to provide a modern and cost-efficient platform for the administration of insurers' legacy estates. This successful project, which can be seen as part of an overall industry trend of increased interest in legacy portfolio management, is the first in a series to migrate Wesleyan's legacy portfolios to the Sapiens platform. With the completion of this phase, Wesleyan has decommissioned the first of four legacy systems. Once all phases are completed, Wesleyan will have decommissioned its less efficient and costly legacy platforms. In addition to the Sapiens Closed Books solution, Wesleyan is using Sapiens' ALIS platform for new financial products and administration of open books of business. Sapiens Closed Books is a proven system designed to answer legacy portfolio challenges, while significantly cutting the costs that are commonly associated with legacy platforms. Sapiens Closed Books provides an end-to-end, legacy portfolio system that is capable of handling missing data, old legislation and a wide range of product types. It can also process top-ups or incremental new business. The implementation of the Closed Books solution was spearheaded by Sapiens' Insurance Practice team and leveraged Sapiens' innovative "Old Co-New Co" services approach, designed to enable insurers to meet the challenges of their new business needs, while continuing to efficiently meet closed book obligations with high quality and cost-effective services.

Sapiens International Corporation N.V. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015

Sapiens International Corporation N.V. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported revenue of $41,773,000 against $36,192,000 a year ago. Operating income was $4,550,000 against $3,325,000 a year ago. Net income attributable to Sapiens' shareholders was $4,612,000 or $0.09 per diluted share against $3,421,000 or $0.08 per diluted share a year ago. Non-GAAP revenue was $41,773,000 against $36,192,000 a year ago. Non-GAAP operating income was $4,958,000 against $3,758,000 a year ago. Non-GAAP net income attributable to Sapiens' shareholders was $4,948,000 or $0.09 per diluted share against $3,386,000 or $0.08 per diluted share a year ago. Adjusted EBITDA this quarter totaled $5.4 million, an increase of 26.9% compared to $4.2 million in the fourth quarter of last year, and reflect 12.8% of total revenue for the quarter, up from 11.7% for the fourth quarter of last year. For the full year, the company reported revenue of $157,450,000 against $135,377,000 a year ago. Operating income was $14,906,000 against $11,883,000 a year ago. Net income attributable to Sapiens' shareholders was $14,463,000 or $0.30 per diluted share against $11,604,000 or $0.27 per diluted share a year ago. Non-GAAP revenue was $157,450,000 against $135,377,000 a year ago. Non-GAAP operating income was $17,014,000 against $14,049,000 a year ago. Non-GAAP net income attributable to Sapiens' shareholders was $16,008,000 or $0.33 per diluted share against $14,022,000 or $0.33 per diluted share a year ago. Net cash provided by operating activities was $21,561,000 against $17,266,000 a year ago. Purchase of property and equipment was $1,468,000 against $4,129,000 a year ago. Adjusted EBITDA for 2014 totaled $18.6 million, an increase of 21.5% compared to $15.3 million last year and reflect 11.8% of total 2014 revenue. The company expects 2015 revenues to grow approximately 17% on a constant currency basis. Based on current exchange rates, and accounting for the foreign currency exchange rate impact, this represents full year 2015 revenue of approximately $174 to $178 million. The company also expects full-year 2015 Non-GAAP operating margins in the range of 12% - 13%. The company expects consolidated blended tax rate for 2015 to be in the range of 15% to 17%.


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