Magic Software Enterprises (NASDAQ:MGIC) Sees Strong Trading Volume – Time to Buy?

Magic Software Enterprises Ltd. (NASDAQ:MGIC) saw unusually-strong trading volume on Friday . Approximately 18,570 shares changed hands 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

A number of research analysts recently commented on the stock. StockNews.com raised shares of Magic Software Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 22nd. Barclays upped their price target on shares of Magic Software Enterprises from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th.

Magic Software Enterprises Stock Performance

The stock has a fifty day moving average price of $11.67 and a 200 day moving average price of $11.13. 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 firm has a market cap of $583.30 million, a price-to-earnings ratio of 16.97 and a beta of 1.10.

Magic Software Enterprises Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Monday, December 23rd will be given a $0.236 dividend. 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 is Monday, December 23rd. Magic Software Enterprises’s dividend payout ratio (DPR) is currently 67.14%.

Institutional Trading of Magic Software Enterprises

Several hedge funds have recently added to or reduced their stakes in the business. Copeland Capital Management LLC bought a new stake in shares of Magic Software Enterprises in the 3rd quarter worth approximately $47,000. Barclays PLC lifted its holdings in shares of Magic Software Enterprises by 4,274.4% during the 3rd quarter. Barclays PLC now owns 5,818 shares of the software maker’s stock worth $69,000 after acquiring an additional 5,685 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Magic Software Enterprises in the third quarter valued at about $115,000. Tidal Investments LLC raised its position in Magic Software Enterprises by 4.6% in 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 in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Magic Software Enterprises by 2,254.6% during the second 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 period. Institutional investors own 24.70% of the company’s stock.

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.