Formula Systems (1985) (NASDAQ:FORTY) Sets New 12-Month High – Time to Buy?

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) reached a new 52-week high during trading on Wednesday . The company traded as high as $87.50 and last traded at $87.50, with a volume of 992 shares. The stock had previously closed at $83.93.

Formula Systems (1985) Price Performance

The firm’s fifty day moving average is $77.82 and its 200 day moving average is $76.91. The company has a market capitalization of $1.29 billion, a P/E ratio of 19.42 and a beta of 1.11. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.37 and a current ratio of 1.40.

Formula Systems (1985) (NASDAQ:FORTY) last issued its earnings results on Tuesday, August 20th. The technology company reported $1.20 earnings per share (EPS) for the quarter. The company had revenue of $667.68 million for the quarter. Formula Systems (1985) had a net margin of 2.53% and a return on equity of 5.21%.

Formula Systems (1985) Increases Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were paid a $0.63 dividend. The ex-dividend date was Thursday, September 12th. This is a boost from Formula Systems (1985)’s previous Semi-Annual dividend of $0.45. This represents a yield of 1.2%. Formula Systems (1985)’s dividend payout ratio (DPR) is 20.65%.

Hedge Funds Weigh In On Formula Systems (1985)

A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd raised its holdings in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 52.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,711 shares of the technology company’s stock after acquiring an additional 2,303 shares during the period. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $478,000 at the end of the most recent quarter. 34.76% of the stock is owned by institutional investors.

Formula Systems (1985) Company Profile

Formula Systems (1985) Ltd., through its subsidiaries, provides proprietary and non-proprietary software solutions, IT professional services, software product marketing and support, computer infrastructure and integration solutions, and learning and integration worldwide. The company offers computer and telecommunication infrastructure solutions; and sells and markets computers and peripheral equipment, and cloud based solutions and services relating to databases and big data.