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

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Magic Software Enterprises Ltd. (NASDAQ:MGIC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 108,642 shares of the software maker’s stock, valued at approximately $1,532,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.22% of Magic Software Enterprises as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of MGIC. Jane Street Group LLC lifted its position in Magic Software Enterprises by 126.5% during the first quarter. Jane Street Group LLC now owns 32,028 shares of the software maker’s stock worth $416,000 after purchasing an additional 17,887 shares during the period. Legal & General Group Plc increased its holdings in Magic Software Enterprises by 34.6% in the 2nd quarter. Legal & General Group Plc now owns 32,220 shares of the software maker’s stock valued at $616,000 after buying an additional 8,289 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Magic Software Enterprises by 133.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 126,278 shares of the software maker’s stock valued at $2,415,000 after buying an additional 72,117 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Magic Software Enterprises in the 2nd quarter valued at approximately $33,000. Finally, Ameriprise Financial Inc. bought a new stake in shares of Magic Software Enterprises during the 2nd quarter worth approximately $260,000. 24.70% of the stock is owned by institutional investors and hedge funds.

Magic Software Enterprises Stock Performance

NASDAQ MGIC opened at $17.38 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $853.36 million, a price-to-earnings ratio of 21.46 and a beta of 0.73. The firm’s 50 day simple moving average is $17.38 and its 200 day simple moving average is $17.76. Magic Software Enterprises Ltd. has a 1 year low of $11.65 and a 1 year high of $28.00.

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.