Dimensional Fund Advisors LP Purchases 9,752 Shares of Magic Software Enterprises Ltd. (NASDAQ:MGIC)

Dimensional Fund Advisors LP grew its position in shares of Magic Software Enterprises Ltd. (NASDAQ:MGIC) by 4.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 240,841 shares of the software maker’s stock after purchasing an additional 9,752 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Magic Software Enterprises were worth $2,896,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Altshuler Shaham Ltd bought a new position in shares of Magic Software Enterprises during the 4th quarter valued at about $138,000. Geode Capital Management LLC grew its position in Magic Software Enterprises by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 58,105 shares of the software maker’s stock worth $699,000 after acquiring an additional 2,587 shares during the last quarter. JPMorgan Chase & Co. grew its position in Magic Software Enterprises by 21.1% during the 4th quarter. JPMorgan Chase & Co. now owns 112,782 shares of the software maker’s stock worth $1,357,000 after acquiring an additional 19,616 shares during the last quarter. Heron Bay Capital Management bought a new position in Magic Software Enterprises during the 4th quarter worth approximately $183,000. Finally, Truffle Hound Capital LLC bought a new position in Magic Software Enterprises during the 4th quarter worth approximately $5,173,000. 24.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MGIC. William Blair lowered Magic Software Enterprises from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 12th. Barclays raised their price target on Magic Software Enterprises from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Thursday, March 13th. Finally, StockNews.com upgraded Magic Software Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 13th.

Magic Software Enterprises Trading Up 5.3%

MGIC opened at $15.20 on Wednesday. The stock has a market cap of $746.30 million, a PE ratio of 21.71 and a beta of 0.99. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $13.40 and a 200-day moving average of $12.55. Magic Software Enterprises Ltd. has a 52 week low of $9.51 and a 52 week high of $15.32.

Magic Software Enterprises (NASDAQ:MGIC) last released its earnings results on Tuesday, March 11th. The software maker reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). The firm had revenue of $142.58 million during the quarter, compared to analysts’ expectations of $137.00 million. Magic Software Enterprises had a net margin of 6.49% and a return on equity of 15.42%. Equities research analysts predict that Magic Software Enterprises Ltd. will post 0.95 earnings per share for the current fiscal year.

Magic Software Enterprises Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, May 7th. Shareholders of record on Tuesday, April 22nd were paid a dividend of $0.327 per share. This is a boost from Magic Software Enterprises’s previous semi-annual dividend of $0.24. The ex-dividend date was Tuesday, April 22nd. This represents a yield of 4.6%. Magic Software Enterprises’s payout ratio is presently 86.67%.

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.