Until I read the entire cc talk by Roni A I hadn't recognized the true significance of something, and that something is Guidewre.
Here is just one of the statements he made referring to them GWRE:
"So right now we see positive momentum, almost every deal we are competing with Guidewire. But we already announced the deal and we hope to see a few more deals in this year. So, we don’t see any more new competitors but Guidewire is a market leader today but we in terms of the product, we position ourselves"
Take a look at GWRE it is selling at a 200 pe to this year and a 76 pe to next year. And they made 7 cents in the last Q against a loss from last year. SPNS made 9 cents last Q and will probably do 40 cents for the year A 50 pe on 40 is $20 pps price and who knows where next year.
Knowing GB I can't possibly think that $10 will be the top and I don't see with the potential here any sale unless the price is much higher and then perhaps GWRE wants in and why shouldn't they?