From Nasdaq:

Sapiens International Corporation N.V. (SPNS) is expanding its footprint in the global insurance technology domain and has seen a significant 13.8% increase in revenue in the European market in the third quarter of 2023.

The company has collaborated with Gjensidige Pensjonsforsikring (GPF) to expand its reach in the Nordic insurance landscape. The implementation of CoreSuite for Life & Pensions at GPF aims to enhance digital capabilities and operational efficiency, and improve customer engagement.

Sapiens is reinforcing its position in the insurance industry with enhanced software solutions and AI-powered capabilities. It has also expanded its partner base, joining forces with Microsoft to incorporate Azure OpenAI Service.

Sapiens expects revenues between $511 million and $516 million, indicating year-over-year growth of 8.1% for 2023. The company has a Zacks Rank #2 (Buy) and has returned 4.9% in the past six months.

In other news, Zacks Investment Research provides insights into a “sleeper” stock at the heart of the rapidly growing AI sector. The AI industry is predicted to have an economic impact of $15.7 Trillion by 2030. Zacks also highlights other top-ranked stocks in the broader technology sector, including Microsoft Corporation (MSFT) and BlackLine (BL).



Read more: Sapiens (SPNS) Expanding Partner Base Strengthens Prospect