Several analysts have recently updated their ratings and price targets for Magic Software Enterprises (NASDAQ: MGIC):

  • 5/8/2019 – Magic Software Enterprises was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Magic Software Enterprises, a member of the Formula Group, develops, markets and supports software development and deployment technology that enables enterprises to accelerate the process of building and deploying applications that can be rapidly customized and integrated with existing systems. Magic technology, applications and professional services are available through a global network of subsidiaries, distributors and Magic solutions partners. (PRESS RELEASE) “
  • 5/1/2019 – Magic Software Enterprises was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 4/30/2019 – Magic Software Enterprises was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Magic Software Enterprises, a member of the Formula Group, develops, markets and supports software development and deployment technology that enables enterprises to accelerate the process of building and deploying applications that can be rapidly customized and integrated with existing systems. Magic technology, applications and professional services are available through a global network of subsidiaries, distributors and Magic solutions partners. (PRESS RELEASE) “
  • 4/30/2019 – Magic Software Enterprises was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 4/19/2019 – Magic Software Enterprises was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Magic Software Enterprises, a member of the Formula Group, develops, markets and supports software development and deployment technology that enables enterprises to accelerate the process of building and deploying applications that can be rapidly customized and integrated with existing systems. Magic technology, applications and professional services are available through a global network of subsidiaries, distributors and Magic solutions partners. (PRESS RELEASE) “
  • 4/13/2019 – Magic Software Enterprises was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Magic Software Enterprises, a member of the Formula Group, develops, markets and supports software development and deployment technology that enables enterprises to accelerate the process of building and deploying applications that can be rapidly customized and integrated with existing systems. Magic technology, applications and professional services are available through a global network of subsidiaries, distributors and Magic solutions partners. (PRESS RELEASE) “
  • 4/9/2019 – Magic Software Enterprises was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 4/2/2019 – Magic Software Enterprises was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Magic Software Enterprises, a member of the Formula Group, develops, markets and supports software development and deployment technology that enables enterprises to accelerate the process of building and deploying applications that can be rapidly customized and integrated with existing systems. Magic technology, applications and professional services are available through a global network of subsidiaries, distributors and Magic solutions partners. (PRESS RELEASE) “
  • 3/26/2019 – Magic Software Enterprises was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Magic Software Enterprises, a member of the Formula Group, develops, markets and supports software development and deployment technology that enables enterprises to accelerate the process of building and deploying applications that can be rapidly customized and integrated with existing systems. Magic technology, applications and professional services are available through a global network of subsidiaries, distributors and Magic solutions partners. (PRESS RELEASE) “
  • 3/20/2019 – Magic Software Enterprises was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Magic Software Enterprises, a member of the Formula Group, develops, markets and supports software development and deployment technology that enables enterprises to accelerate the process of building and deploying applications that can be rapidly customized and integrated with existing systems. Magic technology, applications and professional services are available through a global network of subsidiaries, distributors and Magic solutions partners. (PRESS RELEASE) “

Shares of NASDAQ MGIC opened at $8.91 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.99 and a quick ratio of 3.99. The stock has a market capitalization of $435.51 million, a price-to-earnings ratio of 16.20 and a beta of 0.91. Magic Software Enterprises Ltd has a fifty-two week low of $7.29 and a fifty-two week high of $10.20.

Magic Software Enterprises (NASDAQ:MGIC) last issued its quarterly earnings results on Monday, March 4th. The software maker reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). The business had revenue of $72.29 million during the quarter, compared to analyst estimates of $73.75 million. Magic Software Enterprises had a return on equity of 11.06% and a net margin of 6.99%. On average, equities analysts anticipate that Magic Software Enterprises Ltd will post 0.6 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp boosted its holdings in Magic Software Enterprises by 20.2% in the fourth quarter. Van ECK Associates Corp now owns 9,359 shares of the software maker’s stock worth $71,000 after acquiring an additional 1,571 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of Magic Software Enterprises in the 4th quarter valued at about $124,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of 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 valued at $153,000 after purchasing an additional 3,715 shares during the period. Seizert Capital Partners LLC acquired a new stake in shares of Magic Software Enterprises in the 1st quarter valued at about $228,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of 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 valued at $279,000 after purchasing an additional 2,700 shares during the period. 15.68% of the stock is owned by institutional investors and hedge funds.

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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