Copeland Capital Management LLC Purchases Shares of 3,997 Magic Software Enterprises Ltd. (NASDAQ:MGIC)

Copeland Capital Management LLC purchased a new stake in shares of Magic Software Enterprises Ltd. (NASDAQ:MGIC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 3,997 shares of the software maker’s stock, valued at approximately $47,000.

Several other institutional investors have also added to or reduced their stakes in MGIC. Wellington Management Group LLP boosted its position in Magic Software Enterprises by 1.6% during the 4th quarter. Wellington Management Group LLP now owns 683,357 shares of the software maker’s stock valued at $6,622,000 after buying an additional 11,010 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in shares of Magic Software Enterprises by 722.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 15,334 shares of the software maker’s stock worth $177,000 after purchasing an additional 13,469 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Magic Software Enterprises in the 1st quarter worth about $593,000. Acadian Asset Management LLC lifted its position in shares of Magic Software Enterprises by 2,254.6% in the 2nd quarter. Acadian Asset Management LLC now owns 68,447 shares of the software maker’s stock worth $653,000 after purchasing an additional 65,540 shares during the period. Finally, Y.D. More Investments Ltd purchased a new stake in shares of Magic Software Enterprises in the 2nd quarter worth about $1,451,000. Hedge funds and other institutional investors own 24.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Magic Software Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 21st.

Magic Software Enterprises Trading Down 1.5 %

Shares of NASDAQ MGIC opened at $11.32 on Wednesday. Magic Software Enterprises Ltd. has a 1 year low of $8.15 and a 1 year high of $12.99. The stock has a market cap of $555.80 million, a P/E ratio of 15.51 and a beta of 1.08. The firm has a 50-day moving average of $11.09 and a 200 day moving average of $11.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.66 and a quick ratio of 1.66.

Magic Software Enterprises (NASDAQ:MGIC) last issued its quarterly earnings results on Wednesday, August 14th. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The company had revenue of $136.25 million during the quarter, compared to analysts’ expectations of $132.10 million. Magic Software Enterprises had a net margin of 6.41% and a return on equity of 15.63%. During the same period last year, the company posted $0.28 EPS. As a group, sell-side analysts expect that Magic Software Enterprises Ltd. will post 0.95 EPS for the current fiscal year.

Magic Software Enterprises 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.