Formula Systems (1985) (NASDAQ:FORTY) Trading 7% Higher – Time to Buy?

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price was up 7% on Thursday . The stock traded as high as $168.90 and last traded at $171.1690. Approximately 187 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 845 shares. The stock had previously closed at $160.00.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Monday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Formula Systems (1985) Trading Up 4.6%

The business’s 50 day simple moving average is $147.84 and its 200 day simple moving average is $130.82. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.60 and a quick ratio of 1.58. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 36.86 and a beta of 1.07.

Formula Systems (1985) (NASDAQ:FORTY) last released its quarterly earnings results on Thursday, November 20th. The technology company reported $0.73 earnings per share (EPS) for the quarter. The firm had revenue of $696.64 million for the quarter. Formula Systems (1985) had a return on equity of 4.55% and a net margin of 2.49%.

Formula Systems (1985) Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Tuesday, December 30th will be paid a $0.5021 dividend. This represents a $2.01 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, December 30th. Formula Systems (1985)’s dividend payout ratio (DPR) is 31.28%.

Institutional Investors Weigh In On Formula Systems (1985)

Several hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in Formula Systems (1985) in the 2nd quarter valued at $73,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Formula Systems (1985) in the 2nd quarter worth $222,000. CX Institutional purchased a new stake in shares of Formula Systems (1985) in the third quarter valued at about $398,000. Finally, GHP Investment Advisors Inc. increased its stake in shares of Formula Systems (1985) by 10.8% during the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock worth $1,082,000 after acquiring an additional 755 shares during the period. 34.76% of the stock is owned by institutional investors and hedge funds.

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.