Magic Software Enterprises Ltd. (NASDAQ:MGIC - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.66 and traded as high as $21.45. Magic Software Enterprises shares last traded at $21.34, with a volume of 43,699 shares changing hands.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen cut Magic Software Enterprises from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 24th.
Read Our Latest Analysis on Magic Software Enterprises
Magic Software Enterprises Trading Down 0.2%
The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 28.17 and a beta of 1.04. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.51 and a current ratio of 1.51. The firm has a fifty day moving average of $18.18 and a 200-day moving average of $14.88.
Magic Software Enterprises (NASDAQ:MGIC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The software maker reported $0.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.25. The business had revenue of $147.34 million during the quarter, compared to the consensus estimate of $143.80 million. Magic Software Enterprises had a return on equity of 15.62% and a net margin of 6.60%. As a group, equities analysts predict that Magic Software Enterprises Ltd. will post 0.95 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Altshuler Shaham Ltd acquired a new position in shares of Magic Software Enterprises in the 4th quarter valued at $138,000. Man Group plc acquired a new stake in shares of Magic Software Enterprises in the fourth quarter valued at approximately $145,000. Walleye Capital LLC bought a new position in Magic Software Enterprises in the first quarter valued at approximately $161,000. Lazard Asset Management LLC increased its stake in Magic Software Enterprises by 45.5% in the fourth quarter. Lazard Asset Management LLC now owns 18,795 shares of the software maker's stock valued at $226,000 after acquiring an additional 5,878 shares during the last quarter. Finally, Menora Mivtachim Holdings LTD. bought a new stake in shares of Magic Software Enterprises during the first quarter worth $273,000. Hedge funds and other institutional investors own 24.70% of the company's stock.
About Magic Software Enterprises
(
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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