Mitsubishi UFJ Asset Management Co. Ltd. Buys Shares of 108,642 Magic Software Enterprises Ltd. $MGIC

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Magic Software Enterprises Ltd. (NASDAQ:MGIC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 108,642 shares of the software maker’s stock, valued at approximately $1,532,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MGIC. Raymond James Financial Inc. acquired a new stake in shares of Magic Software Enterprises in the 2nd quarter valued at approximately $33,000. State of Tennessee Department of Treasury acquired a new position in Magic Software Enterprises during the 2nd quarter worth approximately $46,000. BNP Paribas Financial Markets acquired a new position in Magic Software Enterprises during the 3rd quarter worth approximately $62,000. Russell Investments Group Ltd. increased 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 worth $106,000 after purchasing an additional 4,943 shares in the last quarter. Finally, State of Wyoming bought a new position in Magic Software Enterprises in the 2nd quarter valued at approximately $179,000. Institutional investors own 24.70% of the company’s stock.

Magic Software Enterprises Stock Performance

Shares of Magic Software Enterprises stock opened at $17.38 on Friday. Magic Software Enterprises Ltd. has a fifty-two week low of $11.65 and a fifty-two week high of $28.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market capitalization of $853.36 million, a P/E ratio of 21.46 and a beta of 0.73. The company’s 50 day moving average price is $17.38 and its two-hundred day moving average price is $17.76.

About Magic Software Enterprises

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.