Separately, Barclays upped their target price on shares of Magic Software Enterprises from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Tuesday, November 19th.
View Our Latest Stock Report on Magic Software Enterprises
Shares of NASDAQ MGIC opened at $12.04 on Friday. Magic Software Enterprises has a 12 month low of $9.38 and a 12 month high of $13.40. The company has a market cap of $591.15 million, a P/E ratio of 17.20 and a beta of 1.09. The business's 50 day moving average is $11.55 and its two-hundred day moving average is $11.06. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.13.
Several institutional investors have recently modified their holdings of the company. Copeland Capital Management LLC acquired a new position in shares of Magic Software Enterprises in the third quarter valued at $47,000. Barclays PLC raised its stake in shares of Magic Software Enterprises by 4,274.4% in the 3rd 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 in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Magic Software Enterprises during the 3rd quarter worth about $115,000. Tidal Investments LLC boosted its position in shares of Magic Software Enterprises by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 28,917 shares of the software maker's stock valued at $342,000 after acquiring an additional 1,278 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in Magic Software Enterprises by 2,254.6% in the second quarter. Acadian Asset Management LLC now owns 68,447 shares of the software maker's stock worth $653,000 after purchasing an additional 65,540 shares in the last quarter. Institutional investors and hedge funds own 24.70% of the company's stock.
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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