Sapiens (NASDAQ:SPNS) shares are trading lower on Friday after the company announced the pricing of its 3.389 million share offering at $29.50 per share.
Sapiens provides software solutions for the insurance industry, with an emerging focus on the financial services sector. The company offers software solutions for Life, Pension, Annuity, Property, and Casualty insurance providers, allowing them to manage policy administration, claims management and billing functions.
Sapiens shares traded down 4.29% to $29.48 on Friday. The stock has a 52-week high of $35.23 and a 52-week low of $13.55.