Deutsche Bank AG bought a new position in shares of Magic Software Enterprises Ltd. (NASDAQ:MGIC – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 134,699 shares of the software maker’s stock, valued at approximately $1,899,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in Magic Software Enterprises in the second quarter worth approximately $33,000. State of Tennessee Department of Treasury purchased a new position in Magic Software Enterprises during the 2nd quarter worth $46,000. BNP Paribas Financial Markets bought a new stake in Magic Software Enterprises during the 3rd quarter valued at $62,000. Russell Investments Group Ltd. raised its position in Magic Software Enterprises by 2,112.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 5,177 shares of the software maker’s stock valued at $106,000 after purchasing an additional 4,943 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Magic Software Enterprises in the 2nd quarter worth $179,000. Institutional investors own 24.70% of the company’s stock.
Magic Software Enterprises Price Performance
Shares of Magic Software Enterprises stock opened at $17.38 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.48 and a quick ratio of 1.48. Magic Software Enterprises Ltd. has a 1 year low of $11.65 and a 1 year high of $28.00. The firm’s 50-day moving average is $17.38 and its two-hundred day moving average is $17.54. The stock has a market cap of $853.36 million, a price-to-earnings 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.
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