Magic Software Enterprises Ltd. (NASDAQ:MGIC - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $11.52 and traded as high as $12.96. Magic Software Enterprises shares last traded at $12.85, with a volume of 20,049 shares trading hands.
Wall Street Analysts Forecast Growth
MGIC has been the topic of several research analyst reports. StockNews.com upgraded Magic Software Enterprises from a "buy" rating to a "strong-buy" rating in a research note on Sunday, December 22nd. Barclays upped their price objective on Magic Software Enterprises from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Tuesday, November 19th.
Read Our Latest Report on Magic Software Enterprises
Magic Software Enterprises Stock Down 0.2 %
The firm has a 50 day simple moving average of $12.40 and a 200-day simple moving average of $11.56. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.13. The stock has a market cap of $627.99 million, a P/E ratio of 18.27 and a beta of 1.11.
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 paid a dividend of $0.236 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a dividend yield of 3.7%. This is a positive change from Magic Software Enterprises's previous semi-annual dividend of $0.20. Magic Software Enterprises's dividend payout ratio (DPR) is 67.14%.
Hedge Funds Weigh In On Magic Software Enterprises
A number of large investors have recently made changes to their positions in the company. Tidal Investments LLC increased its stake in shares of Magic Software Enterprises by 4.6% during the third quarter. Tidal Investments LLC now owns 28,917 shares of the software maker's stock worth $342,000 after purchasing an additional 1,278 shares during the period. IFP Advisors Inc increased its stake in shares of Magic Software Enterprises by 100.0% during the fourth quarter. IFP Advisors Inc now owns 4,000 shares of the software maker's stock worth $48,000 after purchasing an additional 2,000 shares during the period. Geode Capital Management LLC increased its stake in shares of Magic Software Enterprises by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 58,105 shares of the software maker's stock worth $699,000 after purchasing an additional 2,587 shares during the period. Copeland Capital Management LLC bought a new position in shares of Magic Software Enterprises during the third quarter worth approximately $47,000. Finally, Barclays PLC increased its stake in shares of Magic Software Enterprises by 4,274.4% during the third quarter. Barclays PLC now owns 5,818 shares of the software maker's stock worth $69,000 after purchasing an additional 5,685 shares during the period. 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.
Featured Stories
Before you consider Magic Software Enterprises, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Magic Software Enterprises wasn't on the list.
While Magic Software Enterprises currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
