Shares of Magic Software Enterprises Ltd. (NASDAQ:MGIC - Get Free Report) saw an uptick in trading volume on Thursday . 78,712 shares traded hands during trading, an increase of 107% from the previous session's volume of 38,094 shares.The stock last traded at $12.33 and had previously closed at $12.62.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on MGIC shares. StockNews.com upgraded shares of Magic Software Enterprises from a "buy" rating to a "strong-buy" rating in a report on Sunday, December 22nd. Barclays upped their price target on Magic Software Enterprises from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Tuesday, November 19th.
View Our Latest Analysis on MGIC
Magic Software Enterprises Trading Down 2.5 %
The firm has a market capitalization of $603.93 million, a P/E ratio of 17.57 and a beta of 1.10. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $11.82 and a 200-day simple moving average of $11.26.
Magic Software Enterprises Increases Dividend
The company also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Monday, December 23rd were given a dividend of $0.236 per share. This is an increase from Magic Software Enterprises's previous semi-annual dividend of $0.20. This represents a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, December 23rd. Magic Software Enterprises's dividend payout ratio is currently 67.14%.
Institutional Investors Weigh In On Magic Software Enterprises
Several large investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. bought a new position in Magic Software Enterprises during the third quarter valued at $1,675,000. Inspire Investing LLC purchased a new stake in shares of Magic Software Enterprises in the 3rd quarter worth approximately $880,000. Acadian Asset Management LLC boosted 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 valued at $653,000 after acquiring an additional 65,540 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Magic Software Enterprises by 77.4% during the third quarter. JPMorgan Chase & Co. now owns 93,166 shares of the software maker's stock valued at $1,101,000 after purchasing an additional 40,642 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of 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 buying an additional 29,635 shares during the last quarter. Institutional investors own 24.70% of the company's stock.
Magic Software Enterprises Company Profile
(
Get Free Report)
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.
Further Reading
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