Sapiens Interntl - SPNS STOCK NEWS

Sapiens International Corporation (NASDAQ: SPNS) announced its participation in three virtual investor conferences in May 2021. The events include the Needham Virtual Technology and Media Conference on May 20, where management will hold one-on-one meetings. The Oppenheimer Annual Israeli Conference occurs on May 23 and 24, featuring one-on-one meetings and a group presentation at 7:45 am ET. Lastly, at the JP Morgan Global Technology, Media and Communications Conference from May 24-26, Sapiens will host a fireside chat on May 26 at 1:25 pm ET.

Sapiens International Corporation (NASDAQ: SPNS) has been selected by GCU, a US Life & Annuity carrier, to provide its cloud-based Sapiens IllustrationPro as part of GCU's digital transformation strategy. The solution is designed to enhance agent and customer experiences through intuitive point-of-sale capabilities. Sapiens aims to streamline implementation with its comprehensive life platform, reducing time-to-market. IllustrationPro has recently earned recognition, receiving two Xcelent Awards for Advanced Technology and Breadth of Functionality.

Sapiens International Corporation (NASDAQ: SPNS) reported strong Q1 2021 results with revenues of $109.6 million, up 21.1% from Q1 2020. Non-GAAP revenue reached a record $110.2 million, reflecting a 21.7% increase. Gross profit rose to $44.3 million, a 22.0% year-over-year growth, with an operating income of $12.4 million (20.3% growth). The company raised its 2021 revenue guidance to $459-$464 million, while adjusting its operating margin forecast to 17.0%-17.4% due to increased labor costs stemming from COVID-19 in India.

Sapiens Americas, a subsidiary of Sapiens International Corporation (NASDAQ: SPNS), announced the deployment of its ReinsurancePro solution by Clear Blue Insurance Group, enhancing their management of ceded reinsurance contracts. This cloud-based platform aims to improve operational efficiency, manage complex transactions, and provide flexibility with automated processes. Clear Blue's COO highlighted the solution's potential to better serve partners, while Sapiens' CEO noted the advantages of using Microsoft Azure and streamlined operations. Over 100 insurers currently utilize Sapiens' reinsurance solutions.

Sapiens International Corporation (NASDAQ: SPNS) has appointed Jamie Yoder as President and General Manager of North America, effective April 26, 2021. Yoder brings over 30 years of leadership experience in the insurance and technology sectors, previously holding positions at PwC and Snapsheet. His role will involve overseeing Sapiens' strategic initiatives and operations in North America, a region contributing nearly half of the company's 2020 revenues. This appointment aims to enhance Sapiens' market presence and drive growth amid increasing digital transformation in the insurance industry.

Sapiens International Corporation (NASDAQ: SPNS) will announce its Q1 2021 financial results on May 4, 2021. A conference call will take place at 9:30 a.m. ET to discuss the results. Interested participants can join via various phone lines or access the live webcast on Sapiens' investor relations page. With over 35 years in the insurance industry, Sapiens delivers digital software solutions to more than 600 organizations worldwide, focusing on enhancing core, data, and digital requirements.

Sapiens International Corporation (NASDAQ: SPNS) announced a partnership with Atidot to provide AI-driven solutions for life and annuity insurers. This collaboration aims to enhance revenue generation through analytics and actionable insights in North America and Europe. The integration offers tools for policyholder service improvement and profitability enhancement and is designed to engage insurers in digital transformation. With a focus on predictive analytics, this initiative positions Sapiens and Atidot at the forefront of innovation in the life insurance sector.

Sapiens International Corporation (NASDAQ: SPNS) announced that Co-operative Insurance Companies has chosen their ReinsurancePro and FinancialPro solutions to enhance its financial and compliance management. This partnership aims to address Co-op's challenges related to the speed and accuracy of reinsurance administration, which had been overly reliant on manual processes. The cloud-based solutions will provide automation and efficiency, enabling better financial reporting and management of complex transactions. Sapiens supports over 100 insurers globally with similar solutions.

Sapiens International Corporation (NASDAQ: SPNS) announced a cash dividend of $0.37 per share, totaling $20.2 million. This payout aligns with the company's policy to distribute up to 40% of annual non-GAAP net income. The dividend will be paid on May 11, 2021, to shareholders of record as of April 27, 2021, and is subject to a 25% withholding tax. CEO Roni Al-Dor highlighted that this record distribution reflects strong financial performance and confidence in the company's strategic execution.