I don't see them getting bought, unless the parent company, Asseco, wants to increae their ownership percentage. They now own a little more than 51%. Asseco has grown via acqs to become the 5th largest software company and as long as SPNS continues like this I can't see any way possible Asseco would sell them. The bigger they get the better for Asseco.
I don't see how the Asseco connection would be a drag on price, bc if anything will drive this it's the earnings not the ownership. Interestingly, that, my broker Morgan Stanley, list GWRE and PEGA as competitors, both of which, sell at higher pe's. If we can get pe expansion, and I would expect that in a year if they keep increasing %'s as they have, than the price appreciation will be more rapid. I am looking for mid 30's in 3-5 years.