Magic Software Enterprises Ltd. (NASDAQ:MGIC)’s share price hit a new 52-week high on Monday . The company traded as high as $7.50 and last traded at $7.47, with a volume of 15,199 shares changing hands. The stock had previously closed at $7.41.

Separately, Zacks Investment Research upgraded Magic Software Enterprises from a “sell” rating to a “hold” rating in a report on Friday, June 17th.

The stock has a market cap of $327.90 million and a PE ratio of 21.85. The company has a 50-day moving average price of $6.92 and a 200-day moving average price of $6.62.

Magic Software Enterprises (NASDAQ:MGIC) last announced its quarterly earnings data on Monday, May 9th. The company reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.03. During the same period last year, the firm posted $0.12 EPS. The company earned $44.70 million during the quarter, compared to analysts’ expectations of $43.97 million. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. Analysts expect that Magic Software Enterprises Ltd. will post $0.59 EPS for the current fiscal year.

Magic Software Enterprises Ltd. is a provider of application development, business process integration, and selected vertical software solutions and related professional services. The Company is also a vendor of information technology (IT) outsourcing services. The Company operates through two business segments: software services and IT professional services.

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