Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 844,854 Magic Software Enterprises Ltd. $MGIC

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Magic Software Enterprises Ltd. (NASDAQ:MGIC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 844,854 shares of the software maker’s stock, valued at approximately $11,912,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.72% of Magic Software Enterprises as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of Magic Software Enterprises in the second quarter worth about $33,000. State of Tennessee Department of Treasury purchased a new position in Magic Software Enterprises during the 2nd quarter valued at approximately $46,000. BNP Paribas Financial Markets purchased a new position in Magic Software Enterprises during the 3rd quarter valued at approximately $62,000. Russell Investments Group Ltd. increased its stake in Magic Software Enterprises by 2,112.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 5,177 shares of the software maker’s stock worth $106,000 after acquiring an additional 4,943 shares during the last quarter. Finally, State of Wyoming bought a new stake in Magic Software Enterprises in the 2nd quarter worth approximately $179,000. 24.70% of the stock is owned by institutional investors.

Magic Software Enterprises Price Performance

MGIC stock opened at $17.38 on Wednesday. Magic Software Enterprises Ltd. has a 52 week low of $11.65 and a 52 week high of $28.00. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.11. The company has a fifty day simple moving average of $17.38 and a two-hundred day simple moving average of $17.60. The firm has a market capitalization of $853.36 million, a P/E ratio of 21.46 and a beta of 0.73.

Magic Software Enterprises Profile

Magic Software Enterprises Ltd. is a global provider of enterprise software solutions that enable organizations to develop, integrate and manage business applications across cloud and on-premises environments. Serving clients in industries such as financial services, healthcare, manufacturing and distribution, the company’s platforms are designed to accelerate digital transformation by streamlining the creation of web, desktop and mobile applications while ensuring seamless data flow between disparate systems.

The company’s flagship offering, the Magic xpa Application Platform, provides a low-code development environment that simplifies the design, deployment and maintenance of enterprise applications.