Magic Software Enterprises Ltd. (NASDAQ:MGIC - Get Free Report)'s share price was up 4% on Tuesday . The stock traded as high as $20.42 and last traded at $20.34. Approximately 7,521 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 60,889 shares. The stock had previously closed at $19.55.
Wall Street Analyst Weigh In
Several research firms have commented on MGIC. Wall Street Zen lowered Magic Software Enterprises from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Zacks Research upgraded Magic Software Enterprises from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Finally, Barclays upped their price target on Magic Software Enterprises from $16.00 to $18.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Magic Software Enterprises has an average rating of "Buy" and an average target price of $18.00.
Get Our Latest Analysis on Magic Software Enterprises
Magic Software Enterprises Stock Up 3.8%
The business has a fifty day moving average of $20.17 and a 200 day moving average of $17.29. The stock has a market capitalization of $996.22 million, a price-to-earnings ratio of 26.01 and a beta of 0.95. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.61 and a quick ratio of 1.61.
Magic Software Enterprises (NASDAQ:MGIC - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. The business had revenue of $151.60 million during the quarter, compared to analyst estimates of $143.06 million. Magic Software Enterprises had a return on equity of 15.85% and a net margin of 6.58%. Magic Software Enterprises has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Magic Software Enterprises Ltd. will post 0.95 earnings per share for the current year.
Magic Software Enterprises Cuts Dividend
The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Monday, October 6th will be paid a $0.296 dividend. This represents a dividend yield of 290.0%. The ex-dividend date is Monday, October 6th. Magic Software Enterprises's dividend payout ratio (DPR) is presently 75.64%.
Institutional Trading of Magic Software Enterprises
A number of hedge funds and other institutional investors have recently bought and sold shares of MGIC. Raymond James Financial Inc. acquired a new stake in Magic Software Enterprises in the second quarter valued at $33,000. State of Tennessee Department of Treasury purchased a new position in shares of Magic Software Enterprises during the second quarter worth about $46,000. Walleye Capital LLC purchased a new position in shares of Magic Software Enterprises during the first quarter worth about $161,000. Ameriprise Financial Inc. purchased a new position in shares of Magic Software Enterprises during the second quarter worth about $260,000. Finally, Menora Mivtachim Holdings LTD. purchased a new position in shares of Magic Software Enterprises during the first quarter worth about $273,000. 24.70% of the stock is currently owned by institutional investors and hedge funds.
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.
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