Magic Software Enterprises (NASDAQ:MGIC - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Saturday.
Several other equities analysts have also recently commented on MGIC. Barclays boosted their target price on shares of Magic Software Enterprises from $15.00 to $16.00 and gave the company an "overweight" rating in a research report on Thursday, March 13th. William Blair downgraded shares of Magic Software Enterprises from an "outperform" rating to a "market perform" rating in a report on Wednesday, March 12th.
View Our Latest Research Report on Magic Software Enterprises
Magic Software Enterprises Stock Performance
Shares of NASDAQ:MGIC traded down $0.41 on Friday, hitting $15.72. 117,747 shares of the company were exchanged, compared to its average volume of 56,136. The company's 50 day moving average price is $13.98 and its two-hundred day moving average price is $12.94. Magic Software Enterprises has a one year low of $9.51 and a one year high of $16.50. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.76 and a current ratio of 1.76. The firm has a market capitalization of $771.84 million, a price-to-earnings ratio of 22.46 and a beta of 0.99.
Magic Software Enterprises (NASDAQ:MGIC - Get Free Report) last announced its earnings results on Wednesday, May 21st. The software maker reported $0.25 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.25. Magic Software Enterprises had a net margin of 6.49% and a return on equity of 15.42%. The company had revenue of $147.34 million for the quarter, compared to analyst estimates of $143.80 million. Research analysts expect that Magic Software Enterprises will post 0.95 earnings per share for the current year.
Institutional Trading of Magic Software Enterprises
A number of large investors have recently made changes to their positions in the stock. Barclays PLC raised 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. JPMorgan Chase & Co. grew its holdings in Magic Software Enterprises by 77.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 93,166 shares of the software maker's stock worth $1,101,000 after acquiring an additional 40,642 shares in the last quarter. Truist Financial Corp bought a new stake in shares of Magic Software Enterprises in the 4th quarter valued at about $189,000. IFP Advisors Inc boosted its stake in Magic Software Enterprises by 100.0% in the 4th quarter. IFP Advisors Inc now owns 4,000 shares of the software maker's stock worth $48,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Magic Software Enterprises in the 4th quarter worth approximately $1,392,000. 24.70% of the stock is currently owned by institutional investors.
About Magic Software Enterprises
(
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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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