Magic Software Enterprises (NASDAQ:MGIC) Sees Large Volume Increase - What's Next?

Shares of Magic Software Enterprises Ltd. (NASDAQ:MGIC - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 67,150 shares traded hands during trading, an increase of 14% from the previous session's volume of 59,078 shares.The stock last traded at $21.56 and had previously closed at $20.40.

Wall Street Analyst Weigh In

A number of research analysts have commented on MGIC shares. William Blair cut shares of Magic Software Enterprises from an "outperform" rating to a "market perform" rating in a research note on Wednesday, March 12th. Wall Street Zen cut shares of Magic Software Enterprises from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 24th. Finally, Barclays raised their price target on shares of Magic Software Enterprises from $15.00 to $16.00 and gave the stock an "overweight" rating in a research note on Thursday, March 13th.

Magic Software Enterprises Stock Up 6.1%

The business's 50 day moving average price is $16.42 and its 200-day moving average price is $14.06. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.51 and a quick ratio of 1.51. The company has a market cap of $1.06 billion, a P/E ratio of 28.49 and a beta of 1.04.

Magic Software Enterprises (NASDAQ:MGIC - Get Free Report) last posted its earnings results on Wednesday, May 21st. The software maker reported $0.25 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.25. Magic Software Enterprises had a net margin of 6.60% and a return on equity of 15.62%. The company had revenue of $147.34 million during the quarter, compared to analysts' expectations of $143.80 million. On average, analysts anticipate that Magic Software Enterprises Ltd. will post 0.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Altshuler Shaham Ltd bought a new position in Magic Software Enterprises in the 4th quarter worth approximately $138,000. Man Group plc bought a new position in Magic Software Enterprises in the 4th quarter worth approximately $145,000. Walleye Capital LLC bought a new position in Magic Software Enterprises in the 1st quarter worth approximately $161,000. Heron Bay Capital Management bought a new position in Magic Software Enterprises in the 4th quarter worth approximately $183,000. Finally, Lazard Asset Management LLC lifted its stake in shares of Magic Software Enterprises by 45.5% in the 4th quarter. Lazard Asset Management LLC now owns 18,795 shares of the software maker's stock valued at $226,000 after purchasing an additional 5,878 shares during the period. Institutional investors own 24.70% of the company's stock.

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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