Magic Software Enterprises Ltd. (NASDAQ:MGIC - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $14.25 and last traded at $14.23, with a volume of 36550 shares changing hands. The stock had previously closed at $13.87.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on MGIC. Barclays increased their target price on shares of Magic Software Enterprises from $15.00 to $16.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th. StockNews.com upgraded shares of Magic Software Enterprises from a "buy" rating to a "strong-buy" rating in a research note on Thursday, March 13th. Finally, William Blair lowered Magic Software Enterprises from an "outperform" rating to a "market perform" rating in a report on Wednesday, March 12th.
View Our Latest Research Report on MGIC
Magic Software Enterprises Stock Performance
The stock has a market capitalization of $698.68 million, a P/E ratio of 20.33 and a beta of 1.01. 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 company has a 50-day moving average price of $13.18 and a two-hundred day moving average price of $12.42.
Magic Software Enterprises (NASDAQ:MGIC - Get Free Report) last posted its earnings results on Tuesday, March 11th. The software maker reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.01). The firm had revenue of $142.58 million during the quarter, compared to analysts' expectations of $137.00 million. Magic Software Enterprises had a return on equity of 15.42% and a net margin of 6.49%. Equities analysts expect that Magic Software Enterprises Ltd. will post 0.95 earnings per share for the current year.
Magic Software Enterprises Increases Dividend
The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.327 per share. This represents a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, April 22nd. This is an increase from Magic Software Enterprises's previous semi-annual dividend of $0.24. Magic Software Enterprises's dividend payout ratio (DPR) is 86.67%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. IFP Advisors Inc raised its position in shares of Magic Software Enterprises by 100.0% during the 4th quarter. IFP Advisors Inc now owns 4,000 shares of the software maker's stock valued at $48,000 after buying an additional 2,000 shares in the last quarter. Barclays PLC raised its position in Magic Software Enterprises by 4,274.4% during the third quarter. Barclays PLC now owns 5,818 shares of the software maker's stock valued at $69,000 after purchasing an additional 5,685 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in shares of Magic Software Enterprises in the 4th quarter worth about $138,000. Man Group plc purchased a new position in shares of Magic Software Enterprises in the 4th quarter worth about $145,000. Finally, Heron Bay Capital Management bought a new position in shares of Magic Software Enterprises during the 4th quarter valued at about $183,000. 24.70% of the stock is currently owned by institutional investors.
About Magic Software Enterprises
(
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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.
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