Magic Software Enterprises (NASDAQ:MGIC - Get Free Report) was upgraded by investment analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research note issued on Sunday.
Separately, Barclays increased 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.
Check Out Our Latest Analysis on Magic Software Enterprises
Magic Software Enterprises Trading Up 1.2 %
Shares of Magic Software Enterprises stock traded up $0.14 on Friday, hitting $12.04. 70,976 shares of the company's stock traded hands, compared to its average volume of 64,205. The company has a fifty day moving average of $11.55 and a two-hundred day moving average of $11.06. Magic Software Enterprises has a one year low of $9.38 and a one year high of $13.40. The company has a market capitalization of $591.15 million, a price-to-earnings ratio of 17.20 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.76.
Institutional Trading of Magic Software Enterprises
Several institutional investors have recently made changes to their positions in MGIC. Tidal Investments LLC increased its holdings in Magic Software Enterprises by 4.6% during the third quarter. Tidal Investments LLC now owns 28,917 shares of the software maker's stock worth $342,000 after buying an additional 1,278 shares during the last quarter. Barclays PLC lifted its stake in Magic Software Enterprises by 4,274.4% in the third quarter. Barclays PLC now owns 5,818 shares of the software maker's stock valued at $69,000 after purchasing an additional 5,685 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Magic Software Enterprises during the third quarter valued at $115,000. Assenagon Asset Management S.A. purchased a new stake in Magic Software Enterprises in the third quarter worth $1,675,000. Finally, Copeland Capital Management LLC bought a new stake in shares of Magic Software Enterprises in the third quarter valued at $47,000. 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.
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