Magic Software Enterprises Ltd. (NASDAQ:MGIC) Shares Bought by Barclays PLC

Barclays PLC lifted its stake in shares of Magic Software Enterprises Ltd. (NASDAQ:MGIC) by 4,274.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,818 shares of the software maker’s stock after acquiring an additional 5,685 shares during the quarter. Barclays PLC’s holdings in Magic Software Enterprises were worth $69,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Copeland Capital Management LLC acquired a new position in shares of Magic Software Enterprises during the 3rd quarter valued at $47,000. Public Employees Retirement System of Ohio bought a new position in Magic Software Enterprises during the third quarter valued at about $115,000. Acadian Asset Management LLC grew its holdings 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 acquiring an additional 65,540 shares during the period. Inspire Investing LLC bought a new stake in Magic Software Enterprises in the third quarter worth about $880,000. Finally, Y.D. More Investments Ltd acquired a new stake in Magic Software Enterprises in the 2nd quarter valued at about $1,451,000. Institutional investors own 24.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. 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 research note on Tuesday, November 19th. StockNews.com upgraded shares of Magic Software Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 22nd.

Magic Software Enterprises Trading Down 3.1 %

Shares of NASDAQ MGIC opened at $11.71 on Friday. 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 stock has a market cap of $574.95 million, a price-to-earnings ratio of 16.73 and a beta of 1.10. The business has a 50 day simple moving average of $11.72 and a 200 day simple moving average of $11.19. Magic Software Enterprises Ltd. has a 52 week low of $9.38 and a 52 week high of $13.40.

Magic Software Enterprises Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Monday, December 23rd were issued a dividend of $0.236 per share. 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 was Monday, December 23rd. Magic Software Enterprises’s dividend payout ratio is currently 67.14%.

Magic Software Enterprises 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.