Magic Software Enterprises (NASDAQ:MGIC) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Magic Software Enterprises Ltd. (NASDAQ:MGIC) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.35 and traded as high as $13.03. Magic Software Enterprises shares last traded at $12.99, with a volume of 36,695 shares.

Analysts Set New Price Targets

MGIC has been the topic of a number of analyst reports. Barclays lifted their price objective on shares of Magic Software Enterprises from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. StockNews.com raised shares of Magic Software Enterprises from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 22nd.

Magic Software Enterprises Stock Up 2.0 %

The stock has a market capitalization of $637.81 million, a PE ratio of 18.56 and a beta of 1.10. 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 stock’s fifty day simple moving average is $11.97 and its 200-day simple moving average is $11.35.

Magic Software Enterprises Increases Dividend

The firm 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. This represents a dividend yield of 3.7%. This is a boost from Magic Software Enterprises’s previous semi-annual dividend of $0.20. The ex-dividend date of this dividend was Monday, December 23rd. Magic Software Enterprises’s payout ratio is presently 67.14%.

Institutional Investors Weigh In On Magic Software Enterprises

A number of hedge funds have recently made changes to their positions in the business. Copeland Capital Management LLC bought a new stake in Magic Software Enterprises in the 3rd quarter valued at about $47,000. Barclays PLC raised its stake in Magic Software Enterprises by 4,274.4% in the 3rd quarter. Barclays PLC now owns 5,818 shares of the software maker’s stock valued at $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 3rd quarter valued at about $115,000. Tidal Investments LLC raised its stake in Magic Software Enterprises by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 28,917 shares of the software maker’s stock valued at $342,000 after acquiring an additional 1,278 shares during the period. Finally, Inspire Investing LLC bought a new stake in Magic Software Enterprises in the 3rd quarter valued at about $880,000. 24.70% of the stock is currently owned by institutional investors.

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.