HC Wainwright reaffirmed their buy rating on shares of Magic Software Enterprises Ltd. (NASDAQ:MGIC) in a research note released on Monday. The firm currently has a $10.00 price objective on the software maker’s stock.

Other analysts have also recently issued reports about the company. Zacks Investment Research cut Magic Software Enterprises from a buy rating to a hold rating in a report on Wednesday, October 11th. ValuEngine raised Magic Software Enterprises from a hold rating to a buy rating in a report on Monday, September 11th. Barclays PLC reissued a buy rating and set a $10.50 price objective on shares of Magic Software Enterprises in a report on Thursday, November 16th. Finally, BidaskClub cut Magic Software Enterprises from a sell rating to a strong sell rating in a report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating and five have given a buy rating to the stock. Magic Software Enterprises presently has a consensus rating of Hold and a consensus price target of $9.81.

Magic Software Enterprises (MGIC) opened at $8.50 on Monday. The stock has a market cap of $382.58, a PE ratio of 17.92 and a beta of 0.70. The company has a current ratio of 3.45, a quick ratio of 3.45 and a debt-to-equity ratio of 0.16. Magic Software Enterprises has a 52-week low of $6.65 and a 52-week high of $9.50.

Magic Software Enterprises (NASDAQ:MGIC) last issued its quarterly earnings results on Tuesday, November 14th. The software maker reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.03). The company had revenue of $65.70 million for the quarter, compared to analyst estimates of $62.65 million. Magic Software Enterprises had a return on equity of 10.37% and a net margin of 4.77%. The firm’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter last year, the company earned $0.12 EPS. analysts forecast that Magic Software Enterprises will post 0.55 earnings per share for the current year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Magic Software Enterprises by 11.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 19,858 shares of the software maker’s stock valued at $158,000 after buying an additional 2,000 shares during the last quarter. AXA acquired a new stake in shares of Magic Software Enterprises in the 2nd quarter valued at approximately $176,000. Macquarie Group Ltd. bought a new stake in Magic Software Enterprises in the 3rd quarter valued at $518,000. Bank of New York Mellon Corp bought a new stake in Magic Software Enterprises in the 2nd quarter valued at $544,000. Finally, Eagle Global Advisors LLC raised its stake in Magic Software Enterprises by 12.7% in the 2nd quarter. Eagle Global Advisors LLC now owns 79,783 shares of the software maker’s stock valued at $634,000 after acquiring an additional 9,000 shares during the period. 9.42% of the stock is owned by institutional investors.

About Magic Software Enterprises

Magic Software Enterprises Ltd. is a provider of application development, business process integration platforms, vertical software solutions and related professional services. The Company is a vendor of information technology (IT) outsourcing services. Its software technology is used by customers to develop, deploy and integrate on premise, mobile and cloud-based business.

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