Magic Software Enterprises (NASDAQ:MGIC - Get Free Report) was downgraded by research analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research note issued on Wednesday.
Separately, Barclays boosted their price objective on Magic Software Enterprises from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 19th.
Read Our Latest Stock Analysis on Magic Software Enterprises
Magic Software Enterprises Price Performance
Shares of Magic Software Enterprises stock traded up $0.05 on Wednesday, hitting $12.30. The company's stock had a trading volume of 14,998 shares, compared to its average volume of 40,344. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.76 and a current ratio of 1.76. Magic Software Enterprises has a 1 year low of $9.51 and a 1 year high of $13.46. The firm has a fifty day moving average price of $12.47 and a 200-day moving average price of $11.72. The company has a market capitalization of $603.92 million, a price-to-earnings ratio of 17.57 and a beta of 1.11.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. IFP Advisors Inc increased its holdings in shares of Magic Software Enterprises by 100.0% in the fourth quarter. IFP Advisors Inc now owns 4,000 shares of the software maker's stock valued at $48,000 after purchasing an additional 2,000 shares during the last quarter. Barclays PLC grew its holdings in Magic Software Enterprises by 4,274.4% in the 3rd quarter. Barclays PLC now owns 5,818 shares of the software maker's stock valued at $69,000 after buying an additional 5,685 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Magic Software Enterprises in the 3rd quarter worth $115,000. Altshuler Shaham Ltd purchased a new position in shares of Magic Software Enterprises during the 4th quarter worth $138,000. Finally, Man Group plc acquired a new position in shares of Magic Software Enterprises during the 4th quarter valued at about $145,000. 24.70% of the stock is owned by hedge funds and other institutional investors.
Magic Software Enterprises Company Profile
(
Get Free Report)
Magic Software Enterprises Ltd. provides proprietary application development, vertical software solutions, business process integration, information technologies (IT) outsourcing software services, and cloud-based services in Israel and internationally. Its Software Services segment develops, markets, sells, and supports application platform, software applications, and business and process integration solutions and related services.
Featured Articles
Before you consider Magic Software Enterprises, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Magic Software Enterprises wasn't on the list.
While Magic Software Enterprises currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
