Magic Software Enterprises (NASDAQ:MGIC) Sees Large Volume Increase - Should You Buy?

Magic Software Enterprises Ltd. (NASDAQ:MGIC - Get Free Report) saw an uptick in trading volume on Friday . 18,570 shares were traded during trading, a decline of 0% from the previous session's volume of 18,579 shares.The stock last traded at $11.98 and had previously closed at $11.89.

Wall Street Analysts Forecast Growth

Several research firms have commented on MGIC. Barclays increased their price objective on shares of Magic Software Enterprises from $14.00 to $15.00 and gave the company an "overweight" rating in a research report on Tuesday, November 19th. StockNews.com upgraded Magic Software Enterprises from a "buy" rating to a "strong-buy" rating in a research report on Sunday, December 22nd.

Magic Software Enterprises Price Performance

The firm has a market cap of $588.21 million, a P/E ratio of 17.11 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.76. The stock's 50-day simple moving average is $11.69 and its two-hundred day simple moving average is $11.14.

Magic Software Enterprises Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Monday, December 23rd will be paid a dividend of $0.236 per share. This is a positive change from Magic Software Enterprises's previous semi-annual dividend of $0.20. This represents a dividend yield of 3.7%. The ex-dividend date is Monday, December 23rd. Magic Software Enterprises's payout ratio is currently 67.14%.

Institutional Trading of Magic Software Enterprises

Several institutional investors and hedge funds have recently made changes to their positions in MGIC. Inspire Investing LLC acquired a new stake in Magic Software Enterprises in the third quarter valued at approximately $880,000. Y.D. More Investments Ltd purchased a new position in shares of Magic Software Enterprises in the 2nd quarter valued at approximately $1,451,000. Assenagon Asset Management S.A. acquired a new stake in Magic Software Enterprises in the 3rd quarter worth approximately $1,675,000. Acadian Asset Management LLC grew its position in Magic Software Enterprises by 2,254.6% during 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 last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Magic Software Enterprises by 14.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 228,551 shares of the software maker's stock worth $2,201,000 after acquiring an additional 29,635 shares during the last quarter. 24.70% of the stock is currently owned by institutional investors.

Magic Software Enterprises Company 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.