Magic Software Enterprises (NASDAQ:MGIC) Stock Rating Lowered by William Blair

Magic Software Enterprises (NASDAQ:MGIC - Get Free Report) was downgraded by equities research analysts at William Blair from an "outperform" rating to a "market perform" rating in a report issued on Wednesday,Briefing.com Automated Import reports.

Other research analysts also recently issued reports about the company. StockNews.com downgraded Magic Software Enterprises from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 26th. Barclays lifted their target price on Magic Software Enterprises from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Tuesday, November 19th.

Magic Software Enterprises Price Performance

Magic Software Enterprises stock opened at $13.39 on Wednesday. The stock's fifty day moving average price is $12.54 and its two-hundred day moving average price is $11.82. Magic Software Enterprises has a one year low of $9.51 and a one year high of $14.04. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.76. The firm has a market cap of $657.44 million, a PE ratio of 19.13 and a beta of 1.11.

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Magic Software Enterprises (NASDAQ:MGIC - Get Free Report) last issued its quarterly earnings results on Tuesday, March 11th. The software maker reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.01). The business had revenue of $142.58 million during the quarter, compared to the consensus estimate of $137.00 million. Magic Software Enterprises had a net margin of 6.49% and a return on equity of 15.42%. As a group, research analysts expect that Magic Software Enterprises will post 0.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Man Group plc acquired a new position in shares of Magic Software Enterprises in the 4th quarter valued at about $145,000. Millennium Management LLC raised its stake in Magic Software Enterprises by 66.7% during the 4th quarter. Millennium Management LLC now owns 28,599 shares of the software maker's stock worth $344,000 after buying an additional 11,442 shares during the period. Lazard Asset Management LLC raised its stake in Magic Software Enterprises by 45.5% during the 4th quarter. Lazard Asset Management LLC now owns 18,795 shares of the software maker's stock worth $226,000 after buying an additional 5,878 shares during the period. Dimensional Fund Advisors LP raised its stake in Magic Software Enterprises by 4.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 240,841 shares of the software maker's stock worth $2,896,000 after buying an additional 9,752 shares during the period. Finally, Altshuler Shaham Ltd acquired a new position in Magic Software Enterprises during the 4th quarter worth approximately $138,000. 24.70% of the stock is owned by institutional investors and hedge funds.

Magic Software Enterprises Company Profile

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.

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