Assenagon Asset Management S.A. acquired a new position in shares of Magic Software Enterprises Ltd. (NASDAQ:MGIC - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 140,591 shares of the software maker's stock, valued at approximately $1,675,000. Assenagon Asset Management S.A. owned 0.29% of Magic Software Enterprises as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Copeland Capital Management LLC bought a new stake in Magic Software Enterprises during the third quarter worth about $47,000. CANADA LIFE ASSURANCE Co raised its stake in Magic Software Enterprises by 722.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 15,334 shares of the software maker's stock worth $177,000 after acquiring an additional 13,469 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Magic Software Enterprises by 14.9% during the second quarter. Dimensional Fund Advisors LP now owns 228,551 shares of the software maker's stock worth $2,201,000 after acquiring an additional 29,635 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Magic Software Enterprises during the first quarter worth about $593,000. Finally, Acadian Asset Management LLC raised its stake in Magic Software Enterprises by 2,254.6% during the second quarter. Acadian Asset Management LLC now owns 68,447 shares of the software maker's stock worth $653,000 after acquiring an additional 65,540 shares in the last quarter. Institutional investors own 24.70% of the company's stock.
Shares of NASDAQ MGIC opened at $11.17 on Friday. The stock has a 50-day moving average price of $11.19 and a two-hundred day moving average price of $11.03. Magic Software Enterprises Ltd. has a 12 month low of $8.15 and a 12 month high of $12.99. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.13. The company has a market cap of $548.45 million, a price-to-earnings ratio of 16.43 and a beta of 1.08.
Magic Software Enterprises (NASDAQ:MGIC - Get Free Report) last released its quarterly earnings data on Wednesday, August 14th. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. Magic Software Enterprises had a return on equity of 15.63% and a net margin of 6.41%. The company had revenue of $136.25 million during the quarter, compared to the consensus estimate of $132.10 million. During the same quarter in the prior year, the firm posted $0.28 earnings per share. As a group, analysts forecast that Magic Software Enterprises Ltd. will post 0.95 earnings per share for the current fiscal year.
Separately, StockNews.com raised Magic Software Enterprises from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, August 21st.
Get Our Latest Stock Report on 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.
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