Magic Software Enterprises (NASDAQ:MGIC) Raised to “Strong-Buy” at StockNews.com

Magic Software Enterprises (NASDAQ:MGIC) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Sunday.

Separately, Barclays increased their target price on shares of Magic Software Enterprises from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th.

Magic Software Enterprises Stock Down 1.7 %

NASDAQ:MGIC opened at $11.84 on Friday. The business’s fifty day moving average price is $11.57 and its 200 day moving average price is $11.07. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $581.33 million, a price-to-earnings ratio of 16.91 and a beta of 1.09. Magic Software Enterprises has a 1-year low of $9.38 and a 1-year high of $13.40.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MGIC. Tidal Investments LLC grew its position in shares of Magic Software Enterprises by 4.6% in the third quarter. Tidal Investments LLC now owns 28,917 shares of the software maker’s stock valued at $342,000 after purchasing an additional 1,278 shares during the last quarter. Copeland Capital Management LLC acquired a new position in Magic Software Enterprises during the 3rd quarter valued at $47,000. Barclays PLC boosted its holdings in 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 purchasing an additional 5,685 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Magic Software Enterprises in the 3rd quarter worth $115,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Magic Software Enterprises by 14.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 228,551 shares of the software maker’s stock worth $2,201,000 after purchasing an additional 29,635 shares during the period. Institutional investors own 24.70% of the company’s stock.

About Magic Software Enterprises

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.