Magic Software Enterprises (MGIC) Stock Assessment Updated by BidaskClub


Magic Software Enterprises (NASDAQ: MGIC) was updated by BidaskClub stock analysts of a "sell" rating for a "hold" rating on a research note issued to investors on Saturday, October 13.

Several other stock analysts also weighed heavily on the company. HC Wainwright set a price target of $ 10.00 at Magic Software Enterprises and gave the company a "buy" rating on a research note on Thursday, August 9. Zacks Investment Research has upgraded Magic Software Enterprises from a "hold" rating to a "buy" rating and set a price target of $ 9.50 on the stock in a research note on Tuesday, August 14. One research analyst ranked the stock with a sales rating, three issued a maintenance rating and two assigned a stock purchase rating. Magic Software Enterprises currently has an average Hold rating and an average price of $ 10.00.

Shares of MGIC traded $ 0.04 during trading on Friday, reaching $ 8.47. The stock had a trading volume of 33,725 shares, compared to its average volume of 35,548. Magic Software Enterprises has a 12-month low of $ 7.75 and a 12-month high of $ 9.25. The company has a fast ratio of 3.12, a current ratio of 3.12 and a debt-equity ratio of 0.12. The stock has a market value of $ 412.97 million, a P / E ratio of 15.98 and a beta of 0.82.

Magic Software Enterprises (NASDAQ: MGIC) last issued its earnings results on Wednesday, August 8. The software maker reported a profit of $ 0.16 per share (EPS) for the quarter, beating analysts' estimates of $ 0.11 to $ 0.01. Magic Software Enterprises had a return on shareholders' equity of 10.92% and a net margin of 6.59%. The company had revenue of $ 70.22 million in the quarter, compared with analysts' expectations of $ 72.45 million. On average, analysts expect Magic Software Enterprises to release 0.6 EPS for the current year.

Institutional investors and hedge funds recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new equity position of Magic Software Enterprises during the third quarter, valued at approximately $ 136,000. Jane Street Group LLC bought a new stake in Magic Software Enterprises in the second quarter, worth $ 259,000. Ramsey Quantitative Systems increased its stake in Magic Software Enterprises by 54.4% in the third quarter. Ramsey Quantitative Systems now owns 60,989 shares of the software maker, worth $ 518,000, after buying another 21,479 shares during the period. Naples Global Advisors LLC increased its stake in Magic Software Enterprises by 21.9% in the second quarter. Naples Global Advisors LLC now owns 99,991 shares of the software maker's stock in the amount of $ 830,000 after buying 17,934 additional shares during the period. Finally, Segall Bryant & Hamill LLC bought a new stake in Magic Software Enterprises for the second quarter of $ 2,288,000. 10.24% of the shares are currently owned by hedge funds and other institutional investors.

Magic Company Enterprises Company Profile

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 proprietary application platform, software applications and business integration solutions, and related processes and services.

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