BlackRock Inc. bought a new position in Magic Software Enterprises Ltd. (NASDAQ:MGIC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,350,106 shares of the software maker's stock, valued at approximately $160,036,000. BlackRock Inc. owned about 23.12% of Magic Software Enterprises as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently bought and sold shares of the company. Truist Financial Corp increased its holdings in shares of Magic Software Enterprises by 1.4% during the 4th quarter. Truist Financial Corp now owns 30,112 shares of the software maker's stock worth $775,000 after buying an additional 426 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Magic Software Enterprises by 5.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 14,361 shares of the software maker's stock worth $293,000 after buying an additional 768 shares during the period. Lazard Asset Management LLC boosted its holdings in Magic Software Enterprises by 4.0% in the fourth quarter. Lazard Asset Management LLC now owns 24,734 shares of the software maker's stock valued at $637,000 after acquiring an additional 955 shares during the last quarter. Swiss National Bank grew its position in Magic Software Enterprises by 3.0% during the fourth quarter. Swiss National Bank now owns 53,457 shares of the software maker's stock valued at $1,393,000 after acquiring an additional 1,539 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Magic Software Enterprises during the second quarter valued at about $33,000. 24.70% of the stock is currently owned by hedge funds and other institutional investors.
Magic Software Enterprises Price Performance
MGIC opened at $17.38 on Friday. Magic Software Enterprises Ltd. has a 1 year low of $11.65 and a 1 year high of $28.00. The firm has a 50 day moving average price of $17.38 and a 200 day moving average price of $17.54. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.48 and a current ratio of 1.48. The company has a market cap of $853.36 million, a PE ratio of 21.46 and a beta of 0.73.
Magic Software Enterprises Company Profile
(
Free Report)
Magic Software Enterprises Ltd. is a global provider of enterprise software solutions that enable organizations to develop, integrate and manage business applications across cloud and on-premises environments. Serving clients in industries such as financial services, healthcare, manufacturing and distribution, the company's platforms are designed to accelerate digital transformation by streamlining the creation of web, desktop and mobile applications while ensuring seamless data flow between disparate systems.
The company's flagship offering, the Magic xpa Application Platform, provides a low-code development environment that simplifies the design, deployment and maintenance of enterprise applications.
See Also
Want to see what other hedge funds are holding MGIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Magic Software Enterprises Ltd. (NASDAQ:MGIC - Free Report).
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