Magic Software Enterprises (NASDAQ:MGIC) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Magic Software Enterprises Ltd. (NASDAQ:MGIC)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.63 and traded as high as $12.85. Magic Software Enterprises shares last traded at $12.56, with a volume of 23,076 shares traded.

Analyst Upgrades and Downgrades

MGIC has been the subject of a number of research reports. StockNews.com raised Magic Software Enterprises from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 22nd. Barclays increased their target price on Magic Software Enterprises from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th.

Magic Software Enterprises Price Performance

The stock has a 50 day moving average of $12.44 and a 200-day moving average of $11.65. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $616.49 million, a P/E ratio of 17.94 and a beta of 1.11.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MGIC. IFP Advisors Inc raised its position in shares of Magic Software Enterprises by 100.0% in the 4th quarter. IFP Advisors Inc now owns 4,000 shares of the software maker’s stock valued at $48,000 after purchasing an additional 2,000 shares during the last quarter. Barclays PLC lifted its stake in shares of Magic Software Enterprises by 4,274.4% during the third quarter. Barclays PLC now owns 5,818 shares of the software maker’s stock worth $69,000 after buying an additional 5,685 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Magic Software Enterprises during the third quarter valued at $115,000. Altshuler Shaham Ltd acquired a new position in shares of Magic Software Enterprises in the 4th quarter valued at $138,000. Finally, Man Group plc purchased a new position in Magic Software Enterprises in the 4th quarter worth $145,000. Hedge funds and other institutional investors own 24.70% of the company’s stock.

Magic Software Enterprises Company Profile

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.