Formula Systems (1985) (NASDAQ:FORTY) Sees Strong Trading Volume – Should You Buy?

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw unusually-strong trading volume on Wednesday . 531 shares were traded during mid-day trading, a decline of 13% from the previous session’s volume of 612 shares.The stock last traded at $110.72 and had previously closed at $108.53.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Friday, March 27th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Formula Systems (1985) presently has an average rating of “Hold”.

Formula Systems (1985) Price Performance

The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.66 and a current ratio of 1.68. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 2.82 and a beta of 1.21. The company has a 50-day moving average price of $127.11 and a 200-day moving average price of $137.22.

Formula Systems (1985) (NASDAQ:FORTY) last announced its quarterly earnings results on Thursday, May 28th. The technology company reported $2.25 earnings per share for the quarter. Formula Systems (1985) had a net margin of 21.58% and a return on equity of 4.01%. The business had revenue of $738.28 million for the quarter.

Formula Systems (1985) Dividend Announcement

The company also recently announced a special dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 22nd were issued a $13.045 dividend. The ex-dividend date was Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio (DPR) is 2.72%.

Hedge Funds Weigh In On Formula Systems (1985)

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Formula Systems (1985) by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock valued at $391,000 after buying an additional 86 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Formula Systems (1985) during the 2nd quarter worth $73,000. Altshuler Shaham Ltd lifted its holdings in Formula Systems (1985) by 10.4% during the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after acquiring an additional 727 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new position in Formula Systems (1985) during the first quarter worth about $206,000. Institutional investors and hedge funds own 34.76% of the company’s stock.

About Formula Systems (1985)

Formula Systems (1985) Ltd is an Israeli publicly traded holding company specializing in the software and information technology sectors. Founded in 1985 and listed on NASDAQ under the ticker FORTY, the company focuses on acquiring, investing in and developing independent software firms. Its core mission is to foster innovation in enterprise software, cybersecurity and digital transformation solutions.

The company’s principal activities center on holding controlling and significant equity stakes in several market-leading software enterprises.