Magic Software Enterprises Ltd. (NASDAQ:MGIC)‘s stock had its “buy” rating reaffirmed by investment analysts at Barclays PLC in a report issued on Thursday. They currently have a $10.50 price target on the software maker’s stock. Barclays PLC’s price target would suggest a potential upside of 21.39% from the stock’s current price.

Several other research firms have also recently weighed in on MGIC. Zacks Investment Research upgraded shares of Magic Software Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. BidaskClub cut shares of Magic Software Enterprises from a “sell” rating to a “strong sell” rating in a research report on Friday, August 4th. HC Wainwright set a $10.00 price objective on shares of Magic Software Enterprises and gave the stock a “buy” rating in a research report on Thursday, August 10th. Finally, ValuEngine upgraded shares of Magic Software Enterprises from a “hold” rating to a “buy” rating in a research report on Monday, September 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $9.81.

Shares of Magic Software Enterprises (NASDAQ MGIC) traded down $0.25 during trading on Thursday, hitting $8.65. 125,600 shares of the stock were exchanged, compared to its average volume of 32,579. Magic Software Enterprises has a 52-week low of $6.65 and a 52-week high of $9.50. The stock has a market capitalization of $395.93, a P/E ratio of 18.54 and a beta of 0.70. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.55 and a current ratio of 3.55.

Magic Software Enterprises (NASDAQ:MGIC) last announced its quarterly earnings results on Tuesday, November 14th. The software maker reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.03). Magic Software Enterprises had a return on equity of 10.42% and a net margin of 4.77%. The firm had revenue of $65.70 million during the quarter, compared to analysts’ expectations of $62.65 million. During the same period in the previous year, the company posted $0.12 earnings per share. The company’s quarterly revenue was up 20.6% compared to the same quarter last year. equities research analysts expect that Magic Software Enterprises will post 0.57 EPS for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of MGIC. Dimensional Fund Advisors LP grew its position in Magic Software Enterprises by 11.2% during the second quarter. Dimensional Fund Advisors LP now owns 19,858 shares of the software maker’s stock valued at $158,000 after acquiring an additional 2,000 shares during the last quarter. AXA bought a new position in Magic Software Enterprises during the second quarter valued at approximately $176,000. Macquarie Group Ltd. bought a new position in Magic Software Enterprises during the third quarter valued at approximately $518,000. Bank of New York Mellon Corp bought a new position in Magic Software Enterprises during the second quarter valued at approximately $544,000. Finally, Eagle Global Advisors LLC grew its position in Magic Software Enterprises by 12.7% during the second 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 last quarter. Institutional investors and hedge funds own 9.29% of the company’s stock.

Magic Software Enterprises Company Profile

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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