Magic Software Enterprises Ltd. (NASDAQ:MGIC – Get Free Report) saw a significant decrease in short interest in December. As of December 31st, there was short interest totalling 25,100 shares, a decrease of 38.9% from the December 15th total of 41,100 shares. Based on an average trading volume of 43,400 shares, the short-interest ratio is presently 0.6 days. Approximately 0.1% of the company’s shares are short sold.
Analysts Set New Price Targets
Several equities analysts recently commented on the company. StockNews.com raised Magic Software Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 22nd. Barclays raised their price target on shares of Magic Software Enterprises from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th.
Get Our Latest Stock Report on MGIC
Institutional Trading of Magic Software Enterprises
Magic Software Enterprises Stock Up 3.0 %
Shares of NASDAQ:MGIC traded up $0.35 during trading on Tuesday, hitting $12.20. The company’s stock had a trading volume of 38,828 shares, compared to its average volume of 33,703. Magic Software Enterprises has a fifty-two week low of $9.51 and a fifty-two week high of $13.40. The stock’s 50-day moving average price is $11.78 and its two-hundred day moving average price is $11.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.76 and a current ratio of 1.76. The company has a market capitalization of $599.01 million, a PE ratio of 17.43 and a beta of 1.10.
Magic Software Enterprises Increases Dividend
The business also recently declared 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. The ex-dividend date was Monday, December 23rd. This represents a dividend yield of 3.7%. This is an increase from Magic Software Enterprises’s previous semi-annual dividend of $0.20. Magic Software Enterprises’s dividend payout ratio (DPR) is presently 67.14%.
About Magic Software Enterprises
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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