Barclays PLC Has $69,000 Stake in Magic Software Enterprises Ltd. (NASDAQ:MGIC)

Barclays PLC boosted its stake in shares of Magic Software Enterprises Ltd. (NASDAQ:MGIC) by 4,274.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,818 shares of the software maker’s stock after purchasing 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.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Copeland Capital Management LLC acquired a new stake in shares of Magic Software Enterprises during the 3rd quarter worth about $47,000. Public Employees Retirement System of Ohio bought a new stake in Magic Software Enterprises during the third quarter worth about $115,000. Acadian Asset Management LLC increased its holdings in shares of 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 buying an additional 65,540 shares in the last quarter. Inspire Investing LLC acquired a new stake in shares of Magic Software Enterprises during the third quarter worth approximately $880,000. Finally, Y.D. More Investments Ltd bought a new position in shares of Magic Software Enterprises in the second quarter valued at approximately $1,451,000. 24.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Magic Software Enterprises Price Performance

Shares of MGIC stock opened at $11.71 on Friday. 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 capitalization of $574.95 million, a price-to-earnings ratio of 16.73 and a beta of 1.10. The firm’s 50 day moving average is $11.72 and its 200-day moving average is $11.19. Magic Software Enterprises Ltd. has a 1 year low of $9.38 and a 1 year high of $13.40.

Magic Software Enterprises Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Monday, December 23rd were paid a $0.236 dividend. This is a boost from Magic Software Enterprises’s previous semi-annual dividend of $0.20. This represents a dividend yield of 3.7%. The ex-dividend date was Monday, December 23rd. Magic Software Enterprises’s dividend payout ratio (DPR) is 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.