Magic Software Enterprises Ltd. (NASDAQ:MGIC - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.63 and traded as high as $12.85. Magic Software Enterprises shares last traded at $12.56, with a volume of 23,076 shares.
Analysts Set New Price Targets
MGIC has been the subject of a number of research analyst reports. Barclays lifted their target price on Magic Software Enterprises from $14.00 to $15.00 and gave the company an "overweight" rating in a research report on Tuesday, November 19th. StockNews.com upgraded Magic Software Enterprises from a "buy" rating to a "strong-buy" rating in a report on Sunday, December 22nd.
View Our Latest Stock Analysis on MGIC
Magic Software Enterprises Trading Down 2.1 %
The stock has a market capitalization of $614.72 million, a P/E ratio of 17.89 and a beta of 1.11. The stock's 50 day moving average price is $12.45 and its 200-day moving average price is $11.67. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.13.
Institutional Trading of Magic Software Enterprises
Several hedge funds and other institutional investors have recently bought and sold shares of MGIC. Assenagon Asset Management S.A. purchased a new stake in shares of Magic Software Enterprises during the 3rd quarter worth $1,675,000. Public Employees Retirement System of Ohio bought a new position in Magic Software Enterprises in the third quarter worth about $115,000. Barclays PLC lifted its position in shares of Magic Software Enterprises by 4,274.4% during the third 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 during the last quarter. Tidal Investments LLC lifted its position in shares of Magic Software Enterprises by 4.6% during the third quarter. Tidal Investments LLC now owns 28,917 shares of the software maker's stock valued at $342,000 after buying an additional 1,278 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Magic Software Enterprises by 77.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 93,166 shares of the software maker's stock valued at $1,101,000 after buying an additional 40,642 shares in the last quarter. Institutional investors own 24.70% of the company's stock.
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.
Further Reading
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
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
