Several other brokerages have also commented on MGIC. Zacks Investment Research upgraded DLH from a sell rating to a hold rating in a research report on Tuesday, July 9th. HC Wainwright set a $7.00 price objective on Armata Pharmaceuticals and gave the company a buy rating in a research report on Thursday, May 23rd. Finally, BidaskClub lowered Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, June 26th.
Shares of Magic Software Enterprises stock opened at $9.00 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.50 and a quick ratio of 3.50. The company has a market cap of $440.02 million, a price-to-earnings ratio of 16.07 and a beta of 0.97. The firm’s 50-day moving average price is $8.73. Magic Software Enterprises has a 12 month low of $7.29 and a 12 month high of $10.20.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its holdings in Magic Software Enterprises by 20.2% in the 4th quarter. Van ECK Associates Corp now owns 9,359 shares of the software maker’s stock worth $71,000 after buying an additional 1,571 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Magic Software Enterprises by 22.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,024 shares of the software maker’s stock worth $153,000 after buying an additional 3,715 shares during the period. Seizert Capital Partners LLC purchased a new stake in Magic Software Enterprises in the 1st quarter worth approximately $228,000. Advisors Asset Management Inc. lifted its holdings in Magic Software Enterprises by 81.2% in the 1st quarter. Advisors Asset Management Inc. now owns 29,392 shares of the software maker’s stock worth $246,000 after buying an additional 13,173 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Magic Software Enterprises by 8.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 36,557 shares of the software maker’s stock worth $279,000 after buying an additional 2,700 shares during the period. Institutional investors and hedge funds own 15.47% of the company’s stock.
About Magic Software Enterprises
Magic Software Enterprises Ltd. provides proprietary application development, business process integration, vertical software solutions, and IT outsourcing software services in Israel and internationally. The company's Software Services segment develops, markets, sells, and supports a proprietary and none proprietary application platform, software applications, and business and process integration solutions and related services.
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