Shares of Magic Software Enterprises Ltd. (NASDAQ:MGIC - Get Free Report) crossed 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 traded.
Analysts Set New Price Targets
Separately, Wall Street Zen downgraded Magic Software Enterprises from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 24th.
Get Our Latest Stock Analysis on MGIC
Magic Software Enterprises Stock Performance
The company has a 50-day moving average of $17.95 and a 200-day moving average of $14.75. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.11. The company has a market cap of $1.05 billion, a PE ratio of 28.22 and a beta of 1.04.
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 for the quarter, hitting analysts' consensus estimates of $0.25. Magic Software Enterprises had a return on equity of 15.62% and a net margin of 6.60%. The business had revenue of $147.34 million for the quarter, compared to analyst estimates of $143.80 million. As a group, analysts anticipate that Magic Software Enterprises Ltd. will post 0.95 earnings per share for the current year.
Institutional Investors Weigh In On Magic Software Enterprises
Institutional investors and hedge funds have recently bought and sold shares of the business. Altshuler Shaham Ltd bought a new position in shares of Magic Software Enterprises in the 4th quarter worth approximately $138,000. Man Group plc bought a new stake in Magic Software Enterprises during the fourth quarter valued at about $145,000. Walleye Capital LLC bought a new position in shares of Magic Software Enterprises in the first quarter worth about $161,000. Lazard Asset Management LLC lifted its position in shares of 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 worth $226,000 after buying an additional 5,878 shares in the last quarter. Finally, Menora Mivtachim Holdings LTD. purchased a new stake in Magic Software Enterprises during the first quarter valued at approximately $273,000. Hedge funds and other 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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