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Magic Software Enterprises Ltd. (NASDAQ:MGIC) has been downgraded to Hold in a statement by Zacks Investment Research earlier today.

Zacks Investment Research has downgraded Magic Software Enterprises Ltd. (NASDAQ:MGIC) to Hold in a statement released on 10/12/2016.

Boasting a price of $7.14, Magic Software Enterprises Ltd. (NASDAQ:MGIC) traded 0.00% even on the day. With the last stock price close up 1.42% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the date range. Magic Software Enterprises Ltd. has recorded a 50-day average of $7.28 and a two hundred day average of $7.02. Volume of trade was up over the average, with 44,198 shares of MGIC changing hands over the typical 30,152

Performance Chart

Magic Software Enterprises Ltd. (NASDAQ:MGIC)

With a total market value of $0, Magic Software Enterprises Ltd. has price-earnings ratio of 20.94 with a one year low of $5.13 and a one year high of $7.89 .

Brief Synopsis About Magic Software Enterprises Ltd. (NASDAQ:MGIC)

Magic Software Enterprises Ltd. is a provider of application development, business process integration platforms, vertical software solutions and related professional services. The Company is a vendor of information technology (IT) outsourcing services. Its software technology is used by customers to develop, deploy and integrate on premise, mobile and cloud-based business. It operates through two segments: software solutions and IT professional services. The software services segment includes software technology and complementary services. The IT professional services segment offers IT services in the areas of infrastructure design and delivery, application development, technology planning and implementation services, and communications services and solutions. Its product portfolio includes Magic xpa Application Platform, AppBuilder Application Platform and Magic xpi Integration Platform. Its vertical software packages include Leap, Hermes Solution, HR Pulse and MBS Solution.

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